A trust may be created only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve. A trust and its terms must be for the benefit of its beneficiaries.
Minn. Stat. § 501C.0404
TRUST PURPOSES.
Known as the Minnesota Trust Code
The act spans §§ 501C.0101 to 501C.1304 (98 sections).
2015 c 5 art 4 s 4
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.