Sec. 7407.
Except as required by a statute other than this article, a trust need not be evidenced by a trust instrument, but the creation of an oral trust and its terms may be established only by clear and convincing evidence.
History: 1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010 Popular Name: EPIC
Structure Michigan Compiled Laws
Chapter 700 - Estates and Protected Individuals Code
Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206)
Article VII - Michigan Trust Code (700.7101...700.7913)
Section 700.7401 - Creating Trust; Methods.
Section 700.7402 - Creating Trust; Requirements.
Section 700.7403 - Trusts Created in Other Jurisdictions.
Section 700.7404 - Trust Purposes.
Section 700.7405 - Charitable Trusts; Purposes; Enforcement.
Section 700.7406 - Creation of Trust Induced by Fraud, Duress, or Undue Influence.
Section 700.7407 - Evidence of Oral Trust.
Section 700.7408, 700.7409 - Repealed. 2009, Act 46, Eff. Apr. 1, 2010.
Section 700.7410 - Modification or Termination of Trust; Procedures for Approval or Disapproval.
Section 700.7415 - Reformation to Correct Mistakes.
Section 700.7416 - Modification to Achieve Settlor's Tax Objectives; Retroactive Effect.