MN SF571

Extends the rule against perpetuities from 90 years to 500 years for trusts created on or after August 1, 2025, unless the trust specifies a shorter period

Increases the threshold for terminating an "uneconomic trust" from $50,000 to $150,000, allowing trustees to terminate small trusts when administration costs exceed the trust's value

Clarifies and expands powers of trust advisors and protectors, including allowing distribution trust advisors to direct trust termination and removing the trust protector's standalone power to veto or direct distributions

Expands parental disinheritance provisions to bar parents from inheriting from adult children (over 18) if parental rights could have been terminated during minority and parent-child estrangement existed in the year before death

Modifies divorce revocation rules to automatically revoke dispositions and fiduciary nominations to a former spouse's family members (not just the former spouse) upon dissolution of marriage