Minerals in Irrevocable trust

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@Richard_Winblad

Namely, avoiding administrative costs of a professional trustee or trust department. That being said there are times when it is not wise to distribute at the death of the last surviving grantor (the person who set up the trust). These may include immature, young or disabled beneficiaries needing special needs trust protection.

There is also the desires of a the grantor. There may good reasons why there are restrictions placed on the assets held in the trust. It may be a sense of preserving the assets, preventing selling to third parties, or in worst cases the desire to rule from the grave.

Thank you Richard! Back in 1972, I don’t think trust planning was as advanced as it is now. I believe the banker, who was grandpa’s friend, said, you should have a trust! And he said OKAY! And they wrote it up. Lots has probably changed since then. I’m going to look into finding a MN trust attorney to see if s/he can answer some questions. Thanks for taking the time to respond!