What's the $3 million? Cash and their house?

Or a closely held business that will sell in a few years for $20 million?

Or something in between?

Are they being sold this by some seminar?

Unless large appreciation is expected after 2025, or they are losing mental competence, I question the need for a trust at all.

If set up while they are MN residents and funded with MN real property, I'm sure MN will want their cut anyway.

Oh @BobKamman  What say you?