Harvard University Law School J.D., 1982
Houghton College B.A., 1979, Summa Cum Laude
Bar & Court Admissions
- U.S. District Court District of Minnesota
- U.S. Court of Appeals 8th Circuit
- U.S. Tax Court
- U.S. Supreme Court
- Justice C. Donald Peterson
Minnesota Supreme Court
Terry Slye is a member of the Estate Planning and Administration section and co-chair of the Nonprofit practice group. Terry practices principally in the areas of:
- Estate planning
- Trust law
- Nonprofit organizations law
Terry’s practice is divided between trusts and estates and nonprofit organizations. The former includes estate planning, drafting wills and trusts, estate administration, trust administration, and preparation of related federal income and estate tax returns. He advises clients of relevant income, estate, gift and generation-skipping transfer tax considerations, plus other excise taxes which may apply to a client’s plans for transferring assets to family or other beneficiaries.
He also does substantial work with tax-exempt charitable entities, most of which are organized for educational, religious and health care purposes.
Terry was elected a Fellow of the American College of Trust and Estate Counsel by its Board of Regents. Election involves a rigorous nomination and review process, and requires demonstrated excellence in trust and estate law, and significant contributions to the profession.
Terry is a frequent speaker on estate planning. Recent topics include “The Minnesota Estate Tax Dilemma and Drafting Solutions,” “The Hubert Regulations and the Estate Tax Marital Deduction”, “Drafting Charitable Remainder Trusts” and “Drafting Family Shares.” Terry is a member of the “Wax and Seal,” which publishes Drafting Wills and Trusts for the State of Minnesota. He has authored two chapters, “Taxation Issues” and “Closing the Estate and Final Accounting” for Minnesota Estate Administration, published by the Minnesota State Bar Association. He is co-author of “Succession and Estate Planning Issues for Franchisees, An Overview” ABA Forum on Franchising, (1993). Terry also has been an Associates Articles Editor for Probate and Property published by the Real Property, Probate and Trust Law Section of the American Bar Association. While in law school, Terry was Editor-in-Chief of the Harvard Journal of Law and Public Policy.
Honors & Awards
- 2014 Attorney of the Year (Trusts and Estates, Minneapolis), The Best Lawyers in America
- Top 100 Lawyer, Minnesota Super Lawyers
- Fellow, American College of Trust and Estate Counsel
- Top 40 Estate Planning & Probate Super Lawyer, Minnesota Super Lawyers
- Frequent consultant and speaker concerning the Minnesota estate tax and the Minnesota Gift Tax, including methods of planning to minimize these taxes, post death planning, and preparation of estate and gift tax returns.
- Extensive experience in multi-generational situations where estate and generation-skipping tax considerations must be balanced with specific family situations, including personalities and abilities of various individual beneficiaries and fiduciaries, and the need to balance inter-generational equities and interests. These situations frequently involve trust instruments written 50-100 years ago, which must be adapted to current laws and judicial practice, investment practices, and fiduciary standards.
- Frequently consulted after deaths with other attorneys or clients who are dealing with old wills and trusts for assistance in securing particular distribution results or more beneficial estate or generation-skipping tax results, particularly through the use of disclaimers, tax elections, or settlement agreements, either judicially approved or private non-judicial.
- Structures ownership of, and a plan of inter-generational transition for, non-publicly traded companies to insure continued family control, sound management and potential estate tax discounts for valuation purposes.
- Significant experience dealing with dispositions of large and valuable collections of personal property: automobiles, boats, jewelry, works of art, antiques, thematic collections (early American, Asian, European, African).
- Significant experience assisting nonprofit organizations with legal requirements for endowment, restricted and special purpose funds, including obtaining necessary approvals for changes in such requirements when they have become no longer feasible.
- Significant experience assisting private foundations with compliance with the private foundation excise taxes for self-dealing, taxable expenditures and expenditure responsibility compliance, and disposition of excess business holdings.
- Often serves as intermediary with demonstrated ability to listen empathetically to various interests and help participants achieve solutions acceptable and beneficial to all parties.
- In select cases, acts as a trustee for clients’ trusts when requested by clients, to insure their documents are administered in accordance with their intentions and applicable legal and tax considerations.
American Bar Association, Member
Minnesota State Bar Association, Probate and Trust Section
- Section Council, Member
- Committees on Uniform Principal and Income Act, and Probate Court Forms, Member
- Committee on Federal Tax, Co-Chair
- Section of Probate and Trust, Former Chair, 2001-2002
Ramsey County Bar Association, Member, Section of Probate and Trust, Former Chair
Briggs and Morgan Foundation, Director
Elmer L. and Eleanor J. Andersen Foundation, Secretary
Donald D. and Angela W. Wozniak Foundation, Director and Secretary
Christian Legal Society of Minnesota, Former Director
Houghton College, Trustee and Vice Chair
KTCA Channel 2, Advisory Committee on Planned Giving, Former Member
St. Anthony/New Brighton Education Foundation, 1990-1996, Former Director and Former Treasurer
Waite Park Wesleyan Church, Board Member
St. Paul Chamber Orchestra, Governing Member
- August 15, 2016
- July 5, 2016
- February 1, 2016
- August 22, 2014
- July 21, 2014
- May 7, 2014
- March 26, 2013
- July 18, 2011
- June 1, 2011
- May 12, 2011
- September 8, 2009
- December 5, 2008
- August 1, 2008
- January 1, 2008
- August 21, 2007
- “Summary of the New (2014) Minnesota Estate Tax and Farewell to the Minnesota Gift Tax”2014
- "Minnesota's New Gift Tax And Related Estate Tax Developments," Minnesota State Bar Association Continuing Legal EducationOctober 16, 2013
- "Summary of the 2013 Omnibus Tax Act Provisions Affecting Minnesota Estate Tax and The New Minnesota Gift Tax," Minnesota State Bar Association CLEJune 2013
- "How Prone to Doubt, How Cautious Are the Wise," An Estate Planning Odyssey: The Minnesota Estate Tax in 2013 (The Odyssey), Minnesota State Bar Association CLESeptember 2012
- "Minnesota Tax Update: Recent Legislation And The New Qualified Farm and Qualified Small Business Deduction," Minnesota State Bar Association Continuing Legal EducationDecember 20, 2011
- "Putting Humpty Together Again (continued!)" The Minnesota Estate Tax Going Forward 2010-2011, Minnesota State Bar Association Continuting Legal EducationJune 6, 2011
- "Planning for Declining Assets," Minnesota CLE Probate and Trust Conference2009
- "2008 Update On Preparing Federal Estate Tax Returns"2008
- "An Update on Minnesota/Federal Estate Tax Decoupling Issues," Minnesota State Bar Association Continuing Legal EducationJune 20, 2006
- "Further Adventures With Minnesota/Federal Estate Tax Decoupling Issues: 'Breaking Up Is (Still) Hard To Do,'" Minnesota State Bar Association Continuing Legal EducationJune 9, 2005
- "Minnesota/Federal Estate Tax Decoupling Issues: 'Breaking Up is Hard To Do,'" Minnesota State Bar Association Continuing Legal Education (CLE)June 16, 2004
- "The Minnesota Estate Tax Dilemma and Drafting Solutions," Presenter, 2003 Insider Briefings, Minnesota Community Foundation and The Saint Paul FoundationApril 29, 2003
- January 2016
- March 27, 2014
- May 29, 2013
- January 22, 2013
- August 9, 2012
- March 1, 2010
- October 30, 2009