Ask a question on the site
Questions
Lawyers
Blogs
Legislation
Contacts
Become a lawyer
Login Registration
Section 700.7407 - Evidence of Oral Trust. - Sec. 7407. Except as required by a statute other than...
Section 700.7408, 700.7409 - Repealed. 2009, Act 46, Eff. Apr. 1, 2010. - History: The repealed sections pertained to trustee authority regarding tax...
Section 700.7410 - Modification or Termination of Trust; Procedures for Approval or Disapproval. - Sec. 7410. (1) In addition to the methods of termination...
Section 700.7411 - Modification or Termination of Noncharitable Trust; Consent; "Settlor's Representative" Defined. - Sec. 7411. (1) Subject to subsection (2), a noncharitable irrevocable...
Section 700.7412 - Modification or Termination of Trust; Unanticipated Circumstances or Inability to Administer Effectively. - Sec. 7412. (1) The court may modify the administrative terms...
Section 700.7413 - Cy Pres. - Sec. 7413. (1) Except as otherwise provided in subsections (2)...
Section 700.7414 - Termination or Modification of Noncharitable Trust; Section Inapplicable to Easement for Conservation or Preservation. - Sec. 7414. (1) After 63 days after notice to the...
Section 700.7415 - Reformation to Correct Mistakes. - Sec. 7415. The court may reform the terms of a...
Section 700.7416 - Modification to Achieve Settlor's Tax Objectives; Retroactive Effect. - Sec. 7416. To achieve the settlor's tax objectives, the court...
Section 700.7417 - Division or Consolidation of Trusts. - Sec. 7417. (1) After notice to the qualified trust beneficiaries...
386-1998-VII-5 - Part 5 Creditor's Claims; Spendthrift, Support, and Discretionary Trusts (700.7501...700.7511)
Section 700.7501 - Application; Purposes. - Sec. 7501. This part applies to a creditor's or transferee's...
Section 700.7502 - Spendthrift Provision. - Sec. 7502. (1) A spendthrift provision is valid and enforceable....
Section 700.7503 - Trust for Support. - Sec. 7503. (1) The interest of a trust beneficiary that...
Section 700.7504 - Spendthrift Provision or Support Provision; Exceptions; "Child" Defined. - Sec. 7504. (1) The interest of a trust beneficiary that...
Section 700.7505 - Discretionary Trust; Effect of Standard; Right of Transferee or Creditor. - Sec. 7505. The transferee or creditor of the beneficiary of...
Section 700.7506 - Creditor's Claim Against Settlor; "Settlor" Explained. - Sec. 7506. (1) Whether or not the terms of a...
Section 700.7507 - Overdue Distribution; "Mandatory Distribution" Defined. - Sec. 7507. (1) Whether or not a trust contains a...
Section 700.7508 - Personal Obligations of Trustee. - Sec. 7508. Trust property is not subject to personal obligations...
Section 700.7509-700.7511 - Repealed. 2009, Act 46, Eff. Apr. 1, 2010. - Compiler's Notes: The repealed sections pertained to secured claims, claims...
386-1998-VII-6 - Part 6 Revocable Trusts (700.7601...700.7615)
Section 700.7601 - Capacity of Settlor of Revocable Trust. - Sec. 7601. The capacity required to create, amend, revoke, or...
Section 700.7602 - Revocation or Amendment of Revocable Trust. - Sec. 7602. (1) Unless the terms of a trust expressly...
Section 700.7603 - Powers of Settlor; Exceptions; Settlor as Incapacitated Individual; Powers of Withdrawal; Actions by Predecessor Trustee. - Sec. 7603. (1) Subject to subsection (2), while a trust...
Section 700.7604 - Proceeding to Contest Validity of Revocable Trust; Limitation; Distribution of Property; Liability. - Sec. 7604. (1) A person may commence a judicial proceeding...
Section 700.7605 - Liability of Trust for Expenses, Claims, and Allowances. - Sec. 7605. (1) The property of a trust over which...
Section 700.7606 - Payment of Expenses and Obligations of Settlor's Estate; Duty of Trustee. - Sec. 7606. (1) A trustee of a trust described in...
Section 700.7607 - Rules Regarding Payment of Expenses and Obligations; Priority; Decedent as Settlor of More Than 1 Trust. - Sec. 7607. (1) The following rules apply to section 7606(2):...
Section 700.7608 - Duty of Trustee to Give Notice. - Sec. 7608. If there is no personal representative of the...
Section 700.7609 - Presentation of Claims Against Trust. - Sec. 7609. (1) Subject to section 7611, if notice to...
Section 700.7610 - Presentation of Claims to Assert Liability; Time Limitation; Exceptions. - Sec. 7610. (1) Subject to section 7611, if not barred...
Section 700.7611 - Allowance or Disallowance of Claims Against Revocable Trust. - Sec. 7611. If there is no personal representative appointed for...
Section 700.7612 - Payment of Claims by Trustee. - Sec. 7612. (1) Upon the expiration of 4 months after...
Section 700.7613 - Secured Claims; Payment; Basis. - Sec. 7613. Payment of a secured claim shall be upon...
Section 700.7614 - Claims Due at Future Time, Contingent Claim, or Unliquidated Claim. - Sec. 7614. A claim that will become due at a...
Section 700.7615 - Counterclaims of Trustee. - Sec. 7615. In allowing a claim, the trustee may deduct...
386-1998-VII-7 - Part 7 Office of Trustee (700.7701...700.7709)
Section 700.7701 - Acceptance or Rejection of Trusteeship. - Sec. 7701. (1) Except as otherwise provided in subsection (3),...
Section 700.7702 - Trustee's Bond. - Sec. 7702. (1) A trustee shall give bond to secure...
Section 700.7703 - Cotrustees; Powers and Duties; Relief of Liability. - Sec. 7703. (1) Except as otherwise provided in this section,...
Section 700.7703a - Rules of Construction; Nonfiduciary Powers Under a Trust; Power of Direction to Trust Director; Duties and Limitations of Trust Director and Trustee; Liability; Applicability of Rules to Trusteeship; Definitions. - Sec. 7703a. (1) Excepting the rules of construction in subsection...
Section 700.7703b - Separate Trustees Provision; Trust Instrument; Duties and Powers; Liability; Definitions. - Sec. 7703b. (1) A trust instrument may include a separate...
Section 700.7704 - Vacancy in Trusteeship; Manner of Filling; Priority; Appointment by Court of Additional Trustee or Fiduciary; Definitions. - Sec. 7704. (1) A vacancy in a trusteeship occurs if...
Section 700.7705 - Resignation of Trustee; Circumstances; Issuance of Orders and Conditions; Liability. - Sec. 7705. (1) A trustee may resign in either of...
Section 700.7706 - Removal of Trustee. - Sec. 7706. (1) The settlor, a cotrustee, or a qualified...
Section 700.7707 - Delivery of Property by Former Trustee. - Sec. 7707. (1) Unless a cotrustee remains in office or...
Section 700.7708 - Compensation of Trustee. - Sec. 7708. (1) If the terms of a trust do...
Section 700.7709 - Reimbursement of Expenses; Advance of Money as Lien; Advances and Reimbursement Not as Self-Dealing or Breach of Fiduciary Duty. - Sec. 7709. (1) A trustee is entitled to be reimbursed...
386-1998-VII-8 - Part 8 Duties and Powers of Trustee (700.7801...700.7821)
Section 700.7801 - Administration of Trust; Duties of Trustee. - Sec. 7801. Upon acceptance of a trusteeship, the trustee shall...
Section 700.7802 - Duty of Loyalty. - Sec. 7802. (1) A trustee shall administer the trust solely...
Section 700.7803 - Impartiality; Use of Standards of Michigan Prudent Investor Rule. - Sec. 7803. The trustee shall act as would a prudent...
Section 700.7808 - Settlor's Power to Direct Contrary to Trust Terms. - Sec. 7808. While a trust is revocable, the trustee may...
Section 700.7809 - Repealed. 2018, Act 664, Eff. Mar. 29, 2019. - Compiler's Notes: The repealed section pertained to the exercise of...
Section 700.7810 - Control and Protection of Trust Property. - Sec. 7810. A trustee shall take reasonable steps to take...
Section 700.7811 - Recordkeeping and Identification of Trust Property. - Sec. 7811. (1) A trustee shall keep adequate records of...
Section 700.7812 - Enforcement and Defense of Claims. - Sec. 7812. A trustee shall take reasonable steps to enforce...
Section 700.7813 - Duty to Locate Trust Property and Compel Delivery; Retention of Reserve for Payment of Expenses; Improper Distribution or Payment From Trust; Wrongful Conversion. - Sec. 7813. (1) A trustee shall take reasonable steps to...
Section 700.7814 - Duty to Inform and Report. - Sec. 7814. (1) A trustee shall keep the qualified trust...
Section 700.7815 - Discretionary Powers; Abuse; Liability to Beneficiary; Rules; Effect of Limited or Prohibited Powers; Exceptions. - Sec. 7815. (1) A beneficiary of a discretionary trust provision...
Section 700.7816 - General Powers of Trustee. - Sec. 7816. (1) A trustee, without authorization by the court,...
Section 700.7817 - Specific Powers of Trustee. - Sec. 7817. Without limiting the authority conferred by section 7816,...
Section 700.7818 - Environmental Concerns or Hazards; Powers of Trustee. - Sec. 7818. (1) In connection with an environmental concern or...
Section 700.7819 - Tax Matters; Powers of Trustee. - Sec. 7819. (1) A trustee may do any of the...
Section 700.7820 - Payment Provisions; Facility. - Sec. 7820. (1) A trustee may act under section 7817(ff)...
Section 700.7820a - Irrevocable Trust Including Discretionary Trust Provision; Distribution; Definitions. - Sec. 7820a. (1) If an irrevocable trust includes a discretionary...
Section 700.7821 - Distribution Upon Termination. - Sec. 7821. (1) Upon termination or partial termination of a...
386-1998-VII-9 - Part 9 Liability of Trustees and Rights of Persons Dealing With Trustee (700.7901...700.7913)
Section 700.7901 - Remedies for Breach of Trust. - Sec. 7901. (1) A violation by a trustee of a...
Section 700.7902 - Breach of Trust; Liability; Damages. - Sec. 7902. A trustee who commits a breach of trust...
Section 700.7903 - Damages in Absence of Breach. - Sec. 7903. (1) A trustee is accountable to an affected...
Section 700.7904 - Attorney Fees and Costs; Receipt of Expenses and Disbursements; Reduction or Denial of Claim With Respect to Breach of Trust. - Sec. 7904. (1) In a proceeding involving the administration of...
Section 700.7905 - Commencement of Proceedings; Limitations. - Sec. 7905. (1) The following limitations on commencing proceedings apply...
Section 700.7906 - Reliance on Trust Instrument. - Sec. 7906. A trustee who acts in reasonable reliance on...
Section 700.7907 - Event Affecting Administration or Distribution. - Sec. 7907. If the happening of an event, including, but...
Section 700.7908 - Exculpation of Trustee. - Sec. 7908. (1) A term of a trust relieving a...
Section 700.7909 - Beneficiary's Consent, Release, or Ratification of Transaction. - Sec. 7909. A trustee is not liable to a trust...
Section 700.7910 - Personal Liability of Trustee; Limitation. - Sec. 7910. (1) Unless otherwise provided in the contract, a...
Section 700.7911 - Interest as General Partner. - Sec. 7911. (1) Except as otherwise provided in subsection (3),...
Section 700.7912 - Protection of Person Dealing With Trustee. - Sec. 7912. (1) A person other than a trust beneficiary...
Section 700.7913 - Certificate of Trust. - Sec. 7913. (1) Instead of furnishing a copy of the...
Article VIII - Miscellaneous Provisions (700.8101...700.8206)
386-1998-VIII-1 - Part 1 Effective Date and Repealer (700.8101...700.8102)
Section 700.8101 - Effective Date; Applicable Provisions. - Sec. 8101. (1) This act takes effect April 1, 2000....
Section 700.8102 - Repeal of Certain Acts. - Sec. 8102. The following acts and parts of acts are...
386-1998-VIII-2 - Part 2 Michigan Trust Code Miscellaneous Provisions; Effective Date (700.8201...700.8206)
Section 700.8201 - Construction of Article Vii. - Sec. 8201. (1) Article VII shall be construed and applied...
Section 700.8202 - Electronic Records and Signatures. - Sec. 8202. The provisions of article VII governing the legal...
Section 700.8204 - Effective Date. - Sec. 8204. The amendments and additions to article VII enacted...
Section 700.8206 - Application to Existing Relationships. - Sec. 8206. (1) Except as otherwise provided in article VII,...