A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, and distribution requirements of the trust and all relevant circumstances. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.
Minn. Stat. § 501C.0804
PRUDENT ADMINISTRATION.
Known as the Minnesota Trust Code
The act spans §§ 501C.0101 to 501C.1304 (98 sections).
2015 c 5 art 8 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.