Sec. 7505.
The transferee or creditor of the beneficiary of a discretionary trust provision does not have a right to any amount of trust income or principal that may be distributed only in the exercise of the trustee's discretion, and trust property is not subject to the enforcement of a judgment until income or principal, or both, is distributed directly to the trust beneficiary.
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 700.7501 - Application; Purposes.
Section 700.7502 - Spendthrift Provision.
Section 700.7503 - Trust for Support.
Section 700.7504 - Spendthrift Provision or Support Provision; Exceptions; "Child" Defined.
Section 700.7505 - Discretionary Trust; Effect of Standard; Right of Transferee or Creditor.
Section 700.7506 - Creditor's Claim Against Settlor; "Settlor" Explained.
Section 700.7507 - Overdue Distribution; "Mandatory Distribution" Defined.
Section 700.7508 - Personal Obligations of Trustee.
Section 700.7509-700.7511 - Repealed. 2009, Act 46, Eff. Apr. 1, 2010.