MN HF4650

Amends Minnesota Statutes section 290.01 to modify how resident estates are determined, requiring that a decedent's domicile be established using specific provisions in subdivision 7, paragraphs (c) and (d).

Establishes that a resident trust must satisfy two or more conditions: majority of discretionary investment decisions made in Minnesota, majority of discretionary distribution decisions made in Minnesota, or original trust books and records located in Minnesota.

Excludes actions and decisions of delegated agents or custodians from Minnesota residency determinations if the delegation was permitted under the trust agreement, trustees retain revocation power, and trustees regularly monitor performance.

Prohibits consideration of the location of the trust's attorney, accountant, or financial adviser and the place of business of financial institutions where trustees apply for credit or maintain accounts when determining resident trust status.

Applies modifications to non-grantor trusts that became irrevocable after December 31, 1995, or were first administered in Minnesota after that date.