Minnesota Statutes

Minn. Stat. § 501B.151 (2026)

[Repealed]

✓ text as last checked Sept. 2026 (this copy records no edition or section history)
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MS 2014 [Repealed, 2015 c 5 art 16 s 2]

Notes of Decisions
Cited in 6 cases, 1999–2016 · leading case: In re the Trusteeship of Williams, 591 N.W.2d 743 (Minn. Ct. App. 1999).
In re the Trusteeship of Williams, 591 N.W.2d 743 (Minn. Ct. App. 1999). · cites it 16× “2(e) (1998) ("A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, has a duty to use those special skills or expertise.”
In re the Trusteeship of the Trust of Williams, 631 N.W.2d 398 (Minn. Ct. App. 2001). · cites it 4× “It was later repealed, effective January 1, 1997, and replaced by the Minnesota Prudent Investor Act, currently codified as Minn.Stat. § 501B.151 (2000). See 1996 Minn.”
Norwest Bank Minnesota North, N.A. v. Beckler, 663 N.W.2d 571 (Minn. Ct. App. 2003). · cites it 2× “A trustee has the duty to “exercise reasonable care, skill, and caution” in investing and managing trust assets “as a prudent investor would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust.”
In re Amendment & Restatement of Revocable Living Trust of Alfred J. Berget dated February 15, 2005., No. A13-2295 (Minn. Ct. App. Dec. 8, 2014). · cites it 10× “” Minn. Stat. § 501B.151, subd. 2(a) (2012).”
Est. of Bongard v. Comm'r, 124 T.C. 95 (Tax Ct. 2005). · cites it 2× “Ann. sec. 501B.151 , effective Jan. 1, 1997 (West 2002 & Supp.”
In re The Frank John Rodriguez Sr. Trust., No. A15-1353 (Minn. Ct. App. Mar. 28, 2016). “§ 501B.151, subd. 2(a) (2014). A “trustee shall exercise reasonable care, skill, and caution.”
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