Nonjudicial Settlement Agreements, Spendthrift Trusts, and the “Material Purpose” Dilemma

April 2, 2019
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In 2015, the Minnesota legislature significantly expanded the scope of the Minnesota Trust Code’s Nonjudicial Settlement Agreement (“NJSA”) provisions to permit a wider range of issues to be resolved by way of such agreements.  Under Minn. Stat. § 501C.0111(b)-(c), “interested persons” may enter into binding NJSAs “with respect to any matter involving a trust” so long […]