reglab/statecodes huggingface dataset:
2023 Michigan Compiled Laws › Chapter 700 - Estates and Protected Individuals Code › Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206) › Article VI - Nonprobate Transfers on Death (700.6101...700.6310) › 386-1998-VI-3 - Part 3 Uniform TOD Security Registration (700.6301...700.6310) › Section 700.6309 - Nontestamentary Transfer on Death.

700.6309 Nontestamentary transfer on death.
Sec. 6309.
(1) A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this part, and is not testamentary.
(2) This part does not limit the rights of creditors of security owners against beneficiaries and other transferees under other laws of this state.
History:
1998, Act 386, Eff. Apr. 1, 2000
Popular Name:
EPIC
2023 Michigan Compiled Laws › Chapter 700 - Estates and Protected Individuals Code › Act 386 of 1998 - Estates and Protected Individuals Code (700.1101 - 700.8206) › Article VI - Nonprobate Transfers on Death (700.6101...700.6310) › 386-1998-VI-3 - Part 3 Uniform TOD Security Registration (700.6301...700.6310) › Section 700.6310 - Terms, Conditions, and Forms for Registration.

700.6310 Terms, conditions, and forms for registration.
Sec. 6310.
(1) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests for registrations in beneficiary form or for implementation of registrations in beneficiary form, including requests for cancellation of previously registered TOD beneficiary designations and requests for reregistration to effect a change of beneficiary. The terms and conditions so established may provide for proving death, avoiding or resolving a problem concerning fractional shares, designating primary and contingent beneficiaries, and substituting a named beneficiary's descendants to take in the place of the named beneficiary in the event of the beneficiary's death.
(2) Substitution may be indicated by appending to the name of the primary beneficiary the letters LDPS, standing for "lineal descendants per stirpes". This designation substitutes a deceased beneficiary's descendants who survive the owner for a beneficiary who fails to survive, the descendants to be identified and to share in accordance with the law of the beneficiary's domicile at the owner's death governing inheritance by an intestate's descendants. Other forms of identifying beneficiaries who are to take on 1 or more contingencies, and rules for providing proofs and assurances needed to satisfy reasonable concerns by registering entities regarding conditions and identities relevant to accurate implementation or registrations in beneficiary form, may be contained in a registering entity's terms and conditions.
(3) The following are illustrations of registrations in beneficiary form that a registering entity may authorize:
(a) Sole owner-sole beneficiary:
"John S. Brown TOD or POD John S. Brown Jr."
(b) Multiple owners-sole beneficiary:
"John S. Brown and Mary B. Brown JT TEN TOD John S. Brown Jr."
(c) Multiple owners-primary and secondary substituted beneficiaries:
"John S. Brown and Mary B. Brown JT TEN TOD John S. Brown Jr. SUB BENE Peter Q. Brown" or "John S. Brown, Mary B. Brown JT TEN TOD John S. Brown Jr. LDPS."
History:
1998, Act 386, Eff. Apr. 1, 2000
Popular Name:
EPIC
2023 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) › 386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114) › Section 700.7101 - Short Title of Article.

700.7101 Short title of article.
Sec. 7101.
This article shall be known and may be cited as the "Michigan trust code".
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114) › Section 700.7102 - Scope.

700.7102 Scope.
Sec. 7102.
This article applies to trusts as defined in section 1107.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114) › Section 700.7104 - Notice or Knowledge of Fact.

700.7104 Notice or knowledge of fact.
Sec. 7104.
(1) Subject to subsection (2), a person has knowledge of a fact if 1 or more of the following apply:
(a) The person has actual knowledge of it.
(b) The person has received a notice or notification of it.
(c) From all the facts and circumstances known to the person at the time in question, the person has reason to know it.
(2) An organization that conducts activities through employees has notice or knowledge of a fact involving a trust only from the time the information was received by an employee having responsibility to act for the trust or from the time the information would have been brought to the employee's attention if the organization had exercised reasonable diligence. An organization exercises reasonable diligence if it maintains reasonable routines for communicating significant information to the employee having responsibility to act for the trust and there is reasonable compliance with the routines. Reasonable diligence does not require an employee of the organization to communicate information unless the communication is part of the individual's regular duties or the individual knows a matter involving the trust would be materially affected by the information.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114) › Section 700.7107 - Governing Law.

700.7107 Governing law.
Sec. 7107.
The meaning and effect of the terms of a trust are determined by the following:
(a) The law of the jurisdiction designated in the terms of the trust unless the designation of that jurisdiction's law is contrary to a strong public policy of the jurisdiction having the most significant relationship to the matter at issue.
(b) In the absence of a controlling designation in the terms of the trust, the law of the jurisdiction having the most significant relationship to the matter at issue.
History:
Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114) › Section 700.7108 - Principal Place of Administration.

700.7108 Principal place of administration.
Sec. 7108.
(1) Without precluding other means for establishing a sufficient connection with the designated jurisdiction, terms of a trust designating the principal place of administration are valid and controlling if any of the following apply:
(a) A trustee's principal place of business is located in or a trustee is a resident of the designated jurisdiction.
(b) A trust director's principal place of business is located in, or a trust director is a resident of, the designated jurisdiction.
(c) All or part of the administration occurs in the designated jurisdiction.
(2) A trustee is under a continuing duty to administer the trust at a place appropriate to its purposes, its administration, and the interests of the qualified trust beneficiaries.
(3) Without precluding the right of the court to order, approve, or disapprove a transfer, the trustee, in furtherance of the duty prescribed by subsection (2), may transfer the trust's principal place of administration to another state or to a jurisdiction outside of the United States.
(4) The trustee shall notify the qualified trust beneficiaries in writing of a proposed transfer of a trust's principal place of administration not less than 63 days before initiating the transfer. The notice of proposed transfer must include all of the following:
(a) The name of the jurisdiction to which the principal place of administration is to be transferred.
(b) The address and telephone number at the new location at which the trustee can be contacted.
(c) An explanation of the reasons for the proposed transfer.
(d) The date on which the proposed transfer is anticipated to occur.
(e) In a conspicuous manner, the date, not less than 63 days after the giving of the notice, by which a qualified trust beneficiary must notify the trustee in writing of an objection to the proposed transfer.
(5) The authority of a trustee under this section to transfer a trust's principal place of administration without the approval of the court terminates if a qualified trust beneficiary notifies the trustee in writing of an objection to the proposed transfer on or before the date specified in the notice.
(6) In connection with a transfer of the trust's principal place of administration, the trustee may transfer some or all of the trust property to a successor trustee designated in the terms of the trust or appointed under section 7704.
(7) The view of an adult beneficiary must be given weight in determining the suitability of the trustee and the place of administration.
History:
Add. 2009, Act 46, Eff. Apr. 1, 2010 ;-- Am. 2018, Act 664, Eff. Mar. 29, 2019
Popular Name:
EPIC
2023 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) › 386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114) › Section 700.7109 - Notice; Methods; Waiver.

700.7109 Notice; methods; waiver.
Sec. 7109.
(1) Notice to a person under this article or the sending of a document to a person under this article shall be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. Permissible methods of notice or for sending a document include first-class mail, personal delivery, delivery to the person's last known place of residence or place of business, or a properly directed and identified facsimile or electronic message.
(2) Notice otherwise required under this article or a document otherwise required to be sent under this article need not be provided to a person whose identity or location is unknown to and not reasonably ascertainable by the trustee.
(3) Notice under this article or the sending of a document under this article may be waived in writing by the person to be notified or sent the document.
(4) Notice of a judicial proceeding shall be given as provided in sections 1401 to 1403 and as otherwise provided by court rule.
History:
Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114) › Section 700.7110 - Others Treated as Qualified Beneficiaries.

700.7110 Others treated as qualified beneficiaries.
Sec. 7110.
(1) A charitable organization expressly named in the terms of a trust to receive distributions under the terms of a charitable trust has the rights of a qualified trust beneficiary under this article if 1 or more of the following are applicable to the charitable organization on the date the charitable organization's qualification is being determined:
(a) The charitable organization is a distributee or permissible distributee of trust income or principal.
(b) The charitable organization would be a distributee or permissible distributee of trust income or principal on the termination of the interests of other distributees or permissible distributees then receiving or eligible to receive distributions.
(c) The charitable organization would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.
(2) A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in section 2722 has the rights of a qualified trust beneficiary under this article.
(3) The attorney general of this state has the following rights with respect to a charitable trust having its principal place of administration in this state:
(a) The rights provided in the supervision of trustees for charitable purposes act, 1961 PA 101, MCL 14.251 to 14.266.
(b) The right to notice of any judicial proceeding and any nonjudicial settlement agreement under section 7111.
History:
Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114) › Section 700.7111 - Nonjudicial Settlement Agreement.

700.7111 Nonjudicial settlement agreement.
Sec. 7111.
(1) Except as otherwise provided in subsection (2), interested persons may enter into a binding nonjudicial settlement agreement with respect to any matter involving a trust.
(2) A nonjudicial settlement agreement is valid only to the extent it does not violate a material purpose of the trust and includes terms and conditions that could be properly approved by the court under this article or other applicable law. A nonjudicial settlement agreement shall not be used to accomplish the termination or modification of the trust.
(3) Matters that may be resolved by a nonjudicial settlement agreement include any of the following:
(a) The interpretation or construction of the terms of the trust.
(b) The approval of a trustee's report or accounting.
(c) Direction to a trustee to perform or to refrain from performing a particular act or to grant to or to withhold from a trustee any power.
(d) The resignation or appointment of a trustee and the determination of a trustee's compensation.
(e) Transfer of a trust's principal place of administration.
(f) Liability of a trustee for an action relating to the trust.
(4) Any interested person or trustee may request the court to approve or disapprove a nonjudicial settlement agreement. On a determination that the representation as provided in part 3 was adequate, that the agreement does not violate a material purpose of the trust, and that the agreement contains terms and conditions the court could have properly approved, the court shall enter an order approving the agreement.
(5) As used in this section, "interested persons" means persons whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court.
History:
Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114) › Section 700.7112 - Rules of Construction.

700.7112 Rules of construction.
Sec. 7112.
The rules of construction in sections 2605 to 2608 that apply in this state to the interpretation of and disposition of property by will also apply as appropriate to the interpretation of the terms of a trust and the disposition of the trust property.
History:
Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114) › Section 700.7113 - Penalty Clause for Contest of Trust.

700.7113 Penalty clause for contest of trust.
Sec. 7113.
A provision in a trust that purports to penalize an interested person for contesting the trust or instituting another proceeding relating to the trust shall not be given effect if probable cause exists for instituting a proceeding contesting the trust or another proceeding relating to the trust.
History:
Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-1 - Part 1 General Provisions and Definitions (700.7101...700.7114) › Section 700.7114 - Trustee Having Insurable Interest Under Life Insurance Policy; Conditions.

700.7114 Trustee having insurable interest under life insurance policy; conditions.
Sec. 7114.
A trustee of a trust has an insurable interest in the life of an individual insured under a life insurance policy that is owned by the trustee of the trust acting in a fiduciary capacity or that designates the trust itself as the owner if, on the date the policy is issued, both of the following are true:
(a) The insured is 1 of the following:
(i) A settlor of the trust.
(ii) An individual in whom a settlor of the trust has, or would have had if living at the time the policy was issued, an insurable interest.
(b) The life insurance proceeds are primarily for the benefit of 1 or more trust beneficiaries that have 1 of the following:
(i) An insurable interest in the life of the insured.
(ii) A substantial interest engendered by love and affection in the continuation of the life of the insured and, if not already included under subparagraph (i), who are 1 of the following:
(A) Related within the third degree or closer, as measured by the civil law system of determining degrees of relation, either by blood or affinity, to the insured.
(B) Stepchildren of the insured.
History:
Add. 2014, Act 8, Imd. Eff. Feb. 11, 2014
Popular Name:
EPIC
2023 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) › 386-1998-VII-2 - Part 2 Judicial Proceedings (700.7201...700.7211) › Section 700.7201 - Role of Court in Administration of Trust.

700.7201 Role of court in administration of trust.
Sec. 7201.
(1) A court of this state may intervene in the administration of a trust to the extent its jurisdiction is invoked by an interested person or as provided by law.
(2) A trust is not subject to continuing judicial supervision unless ordered by the court. Registration of a trust or another proceeding concerning a trust does not result in continuing judicial supervision unless ordered by the court. Subject to court jurisdiction as invoked by an interested person or as otherwise exercised as provided by law, the management and distribution of a trust estate, submission of an account or report to beneficiaries, payment of a trustee's fees and other trust obligations, acceptance and change of trusteeship, and any other aspect of trust administration shall proceed expeditiously consistent with the terms of the trust, free of judicial intervention, and without court order or approval or other court action.
(3) A proceeding involving a trust may relate to any matter involving the trust's administration, including a request for instructions and a determination regarding the validity, internal affairs, or settlement of a trust; the administration, distribution, modification, reformation, or termination of a trust; or the declaration of rights that involve a trust, trustee, or trust beneficiary, including, but not limited to, proceedings to do any of the following:
(a) Appoint or remove a trustee.
(b) Review the fees of a trustee.
(c) Require, hear, and settle interim or final accounts.
(d) Ascertain beneficiaries.
(e) Determine a question that arises in the administration or distribution of a trust, including a question of construction of a trust.
(f) Instruct a trustee and determine relative to a trustee the existence or nonexistence of an immunity, power, privilege, duty, or right.
(g) Release registration of a trust.
(h) Determine an action or proceeding that involves settlement of an irrevocable trust.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-2 - Part 2 Judicial Proceedings (700.7201...700.7211) › Section 700.7202 - Jurisdiction Over Trustee and Beneficiaries.

700.7202 Jurisdiction over trustee and beneficiaries.
Sec. 7202.
(1) By registering a trust or accepting the trusteeship of a registered trust or a trust having its principal place of administration in this state or by moving the principal place of administration to this state, the trustee submits personally to the jurisdiction of the courts of this state regarding any matter involving the trust. Notice of a proceeding shall be given to the trustee in accordance with section 1401 at the trustee's address as stated in the registration or as reported to the court and to the trustee's address then known to the petitioner.
(2) For purposes of a proceeding commenced by a trust beneficiary before registration, a trustee of a trust that is not registered in a proper place is subject to the personal jurisdiction of a court in which the trust could have been registered. In addition, a trustee who, within 28 days after receipt of a written demand by a trust settlor or beneficiary, fails to register a trust as required by the terms of the trust is subject to removal and denial of compensation or to surcharge as the court may direct.
(3) With respect to their interests in the trust, the beneficiaries of a trust having its principal place of administration or having been properly registered in this state are subject to the jurisdiction of the courts of this state regarding any matter involving the trust. By accepting a distribution from such a trust, the recipient submits personally to the jurisdiction of the courts of this state regarding any matter involving the trust.
(4) This section does not preclude other methods of obtaining jurisdiction over a trustee, beneficiary, or other person who receives property from the trust.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-2 - Part 2 Judicial Proceedings (700.7201...700.7211) › Section 700.7203 - Subject Matter Jurisdiction.

700.7203 Subject matter jurisdiction.
Sec. 7203.
(1) The court has exclusive jurisdiction of proceedings in this state brought by a trustee or beneficiary that concern the administration of a trust as provided in section 1302(b) and (d).
(2) The court has concurrent jurisdiction with other courts of this state of other proceedings that involve a trust as provided in section 1303.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-2 - Part 2 Judicial Proceedings (700.7201...700.7211) › Section 700.7204 - Venue.

700.7204 Venue.
Sec. 7204.
(1) Except as otherwise provided in subsection (2), venue for a proceeding involving a trust is as follows:
(a) For a proceeding under section 7203 involving a registered trust, in the place of registration.
(b) For a proceeding under section 7203 involving a trust not registered in this state, in any place where the trust properly could be registered and, if the trust is created by will and the estate is not yet closed, in the county in which the decedent's estate is being administered.
(c) As otherwise specified by court rule.
(2) If a trust has no trustee and has not been registered, venue for a judicial proceeding for the appointment of a trustee is as follows:
(a) In a county in this state in which a trust beneficiary resides.
(b) In a county in which any trust property is located.
(c) If the trust is created by will, in the county in which the decedent's estate was or is being administered.
(d) As otherwise provided by court rule.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-2 - Part 2 Judicial Proceedings (700.7201...700.7211) › Section 700.7205 - Trust Proceedings; Dismissal of Matters Relating to Foreign Trusts.

700.7205 Trust proceedings; dismissal of matters relating to foreign trusts.
Sec. 7205.
(1) If a party objects, the court shall not entertain a proceeding under section 7203 that involves a trust that is registered or that has its principal place of administration in another state, unless either of the following applies:
(a) All appropriate parties could not be bound by litigation in the courts of the state where the trust is registered or has its principal place of administration.
(b) The interests of justice would otherwise be seriously impaired.
(2) The court may condition a stay or dismissal of a proceeding under this section on the consent of a party to jurisdiction of the state in which the trust is registered or has its principal place of business, grant a continuance, or enter another appropriate order.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-2 - Part 2 Judicial Proceedings (700.7201...700.7211) › Section 700.7206 - Court; Concurrent Jurisdiction of Litigation Involving Trusts and Third Parties.

700.7206 Court; concurrent jurisdiction of litigation involving trusts and third parties.
Sec. 7206.
The court where a trust is registered has concurrent jurisdiction with other courts of this state of an action or proceeding to determine the existence or nonexistence of the trust if created other than by will, of an action or proceeding against a creditor or debtor of the trust, and of another action or proceeding that involves a trustee and a third party.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2000, Act 54, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-2 - Part 2 Judicial Proceedings (700.7201...700.7211) › Section 700.7207 - Proceedings; Review of Employment of Agents and Compensation of Trustee and Employees of Trustee.

700.7207 Proceedings; review of employment of agents and compensation of trustee and employees of trustee.
Sec. 7207.
On petition of an interested person, after notice to all other interested persons, the court may review the propriety of the employment of a person by a trustee including an attorney, auditor, investment advisor, or other specialized agent or assistant and the reasonableness of the compensation of the person so employed or the reasonableness of the compensation determined by the trustee for the trustee's own services. The court may order a person who receives excessive compensation from a trust to make an appropriate refund.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-2 - Part 2 Judicial Proceedings (700.7201...700.7211) › Section 700.7208 - Trust Proceedings; Initiation by Notice; Interested Persons.

700.7208 Trust proceedings; initiation by notice; interested persons.
Sec. 7208.
A proceeding under section 7203 is initiated by filing a petition in the court and giving notice to interested persons as provided in section 1401. The court may order notification of additional persons. A judgment or order binds each person who is given notice of the proceeding even if not all interested persons are notified.
History:
Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-2 - Part 2 Judicial Proceedings (700.7201...700.7211) › Section 700.7209 - Registration of Trust.

700.7209 Registration of trust.
Sec. 7209.
(1) The trustee of a trust that has its principal place of administration in this state may register the trust in the court at the place designated in the terms of the trust or, if none is designated, then at the principal place of administration. For purposes of this article, the principal place of the trust's administration is the trustee's usual place of business where the records pertaining to the trust are kept or the trustee's residence if the trustee does not have such a place of business. For a corporate trustee, the usual place of business is the business location of the primary trust officer for the trust.
(2) For cotrustees, if not designated in the terms of the trust, the principal place of administration is 1 of the following:
(a) If there is only 1 corporate cotrustee, the corporate trustee's usual place of business.
(b) If there is only 1 professional fiduciary who is an individual and no corporate trustee, the professional fiduciary's usual place of business or residence.
(c) If neither subdivision (a) nor (b) applies, the usual place of business or residence of any of the cotrustees as agreed upon by them.
History:
Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-2 - Part 2 Judicial Proceedings (700.7201...700.7211) › Section 700.7210 - Registration Procedures.

700.7210 Registration procedures.
Sec. 7210.
(1) A trust is registered by the filing of a statement that states the trustee's name and address and in which the trustee acknowledges the trusteeship. The statement shall indicate if the trust has been registered elsewhere. The statement shall identify the trust in 1 of the following manners:
(a) For a trust created by will, by the name of the testator and the date and place of domiciliary probate.
(b) For a written inter-vivos trust, by the name of each settlor and the original trustee and the date of the trust instrument and all amendments existing on the date of registration.
(c) For an oral trust, by information identifying the settlor or other source of property and describing the trust's time and manner of creation and the terms of the trust, including the subject matter, beneficiaries, and time of performance.
(2) The trust instrument is not required to be filed with the court as part of the registration of a trust. If a trust is registered elsewhere, registration in this state is ineffective until the earlier registration is released by order of the court where that registration occurred or by an instrument executed by the trustee and all qualified trust beneficiaries. The order or instrument shall be filed with the registration in this state.
History:
Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-2 - Part 2 Judicial Proceedings (700.7201...700.7211) › Section 700.7211 - Registration; Qualification of Foreign Trustee.

700.7211 Registration; qualification of foreign trustee.
Sec. 7211.
A foreign corporate trustee is required to qualify as a foreign corporation doing business in this state if it maintains a trust's principal place of administration in this state. A foreign cotrustee is not required to qualify in this state solely because its cotrustee maintains the principal place of administration in this state. Unless otherwise doing business in this state, local qualification by a foreign trustee, corporate or individual, is not required for the trustee to receive distribution from a local estate, to hold, invest in, manage, or acquire property located in this state, or to maintain litigation. This section does not affect a determination of what other acts require qualification as doing business in this state.
History:
Add. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-3 - Part 3 Representation (700.7301...700.7308) › Section 700.7301 - Representation; Effect.

700.7301 Representation; effect.
Sec. 7301.
(1) Notice to a person who may represent and bind another person under this part has the same effect as if notice were given directly to the other person.
(2) The consent of a person who may represent and bind another person under this part is binding on the person represented unless the person represented objects to the representation before the consent would otherwise have become effective.
(3) Except as otherwise provided in section 7602, a person who under this part may represent a settlor who lacks capacity may receive notice and for purposes of section 7602 may give a binding consent on the settlor's behalf.
(4) A settlor may not represent or bind a trust beneficiary under this part with respect to the termination or modification of a trust under section 7411(1).
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-3 - Part 3 Representation (700.7301...700.7308) › Section 700.7302 - Representation; Holder of Power of Revocation or Amendment or Power of Appointment.

700.7302 Representation; holder of power of revocation or amendment or power of appointment.
Sec. 7302.
The holder of a power of revocation or amendment or a presently exercisable or testamentary general or special power of appointment may represent and bind a person whose interest, as a permissible appointee, taker in default, or otherwise, is subject to the power. For the purpose, however, of granting consent or approval to modification or termination of a trust or to deviation from its terms, including consent or approval to a settlement agreement described in section 7111, only the holder of a presently exercisable or testamentary general power of appointment may represent and bind such a person.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-3 - Part 3 Representation (700.7301...700.7308) › Section 700.7303 - Representation by Fiduciaries and Parents.

700.7303 Representation by fiduciaries and parents.
Sec. 7303.
To the extent there is no conflict of interest between the representative and the person represented or among those being represented with respect to a particular question or dispute, all of the following apply:
(a) A conservator, plenary guardian, or partial guardian having authority to act with respect to the trust may represent and bind the estate that the conservator, plenary guardian, or partial guardian controls.
(b) An agent under a durable power of attorney having authority to act with respect to the trust may represent and bind the principal if a conservator, plenary guardian, or partial guardian has not been appointed.
(c) A guardian having authority to act with respect to the trust may represent and bind the ward if a conservator of the ward's estate has not been appointed and no agent under a durable power has authority to act.
(d) A trustee may represent and bind the beneficiaries of the trust.
(e) A personal representative of a decedent's estate may represent and bind persons interested in the estate.
(f) A parent may represent and bind the parent's minor or unborn child if a conservator, plenary guardian, or partial guardian has not been appointed.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2000, Act 54, Eff. Apr. 1, 2000 ;-- Am. 2004, Act 314, Eff. Sept. 1, 2004 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-3 - Part 3 Representation (700.7301...700.7308) › Section 700.7304 - Representation by Person Having Substantially Identical Interest.

700.7304 Representation by person having substantially identical interest.
Sec. 7304.
Unless otherwise represented, a minor, incapacitated, or unborn individual, or a person whose identity or location is unknown and not reasonably ascertainable, may be represented by and bound by another having a substantially identical interest with respect to the particular question or dispute, but only to the extent there is no conflict of interest between the representative and the person represented.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-3 - Part 3 Representation (700.7301...700.7308) › Section 700.7305 - Appointment of Representative.

700.7305 Appointment of representative.
Sec. 7305.
(1) If the court determines that an interest is not represented under this part, or that the otherwise available representation might be inadequate, the court may appoint a guardian ad litem to receive notice, give consent, and otherwise represent, bind, and act on behalf of a minor, incapacitated, or unborn individual, or a person whose identity or location is unknown. A guardian ad litem may be appointed to represent several persons or interests.
(2) A guardian ad litem may act on behalf of the individual represented with respect to any matter arising under this article, whether or not a judicial proceeding concerning the trust is pending.
(3) In making decisions, a guardian ad litem may consider the general benefit accruing to the living members of the individual's family.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-3 - Part 3 Representation (700.7301...700.7308) › Section 700.7306-700.7308 - Repealed. 2009, Act 46, Eff. Apr. 1, 2010.

700.7306-700.7308 Repealed. 2009, Act 46, Eff. Apr. 1, 2010.
Compiler's Notes:
The repealed section pertained to personal liability of trustees, limitations on proceedings against trustees, and duties and liabilities of successor trustees.
Popular Name:
EPIC
2023 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) › 386-1998-VII-4 - Part 4 Creation, Validity, Modification, and Termination of Trust (700.7401...700.7417) › Section 700.7401 - Creating Trust; Methods.

700.7401 Creating trust; methods.
Sec. 7401.
(1) A trust may be created by any of the following:
(a) Transfer of property to another person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death.
(b) Declaration by the owner of property that the owner holds identifiable property as trustee.
(c) Exercise of a power of appointment in favor of a trustee.
(d) Exercise of a power described in section 7820a.
(e) A promise by 1 person to another person, whose rights under the promise are to be held in trust for a third person.
(2) The instrument establishing the terms of a trust is not rendered invalid because property or an interest in property is not transferred to the trustee or made subject to the terms of the trust concurrently with the signing of the instrument. Until property or an interest in property is transferred to the trustee or made subject to the terms of the trust, the person nominated as trustee has no fiduciary or other obligations under the instrument establishing the terms of the trust except as may have been specifically agreed by the settlor and the nominated trustee.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2005, Act 204, Imd. Eff. Nov. 10, 2005 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010 ;-- Am. 2012, Act 483, Imd. Eff. Dec. 28, 2012
Popular Name:
EPIC
2023 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) › 386-1998-VII-4 - Part 4 Creation, Validity, Modification, and Termination of Trust (700.7401...700.7417) › Section 700.7402 - Creating Trust; Requirements.

700.7402 Creating trust; requirements.
Sec. 7402.
(1) A trust is created only if all of the following apply:
(a) The settlor has capacity to create a trust.
(b) The settlor indicates an intention to create the trust.
(c) The trust has a definite beneficiary or is either of the following:
(i) A charitable trust.
(ii) A trust for a noncharitable purpose or for the care of an animal, as provided in section 2722.
(d) The trustee has duties to perform.
(e) The same person is not the sole trustee and sole beneficiary.
(2) A trust beneficiary is definite if the trust beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.
(3) A power in a trustee to select a trust beneficiary from an indefinite class is valid only in a charitable trust.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-4 - Part 4 Creation, Validity, Modification, and Termination of Trust (700.7401...700.7417) › Section 700.7403 - Trusts Created in Other Jurisdictions.

700.7403 Trusts created in other jurisdictions.
Sec. 7403.
A trust not created by will is validly created if its creation complies with the law of the jurisdiction in which the trust instrument was executed or the law of a jurisdiction to which, at the time of creation, any of the following applied:
(a) The settlor was domiciled, had a place of abode, or was a national in the jurisdiction.
(b) A trustee was domiciled or had a place of business in the jurisdiction.
(c) Any trust property was located in the jurisdiction.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-4 - Part 4 Creation, Validity, Modification, and Termination of Trust (700.7401...700.7417) › Section 700.7404 - Trust Purposes.

700.7404 Trust purposes.
Sec. 7404.
A trust may be created only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-4 - Part 4 Creation, Validity, Modification, and Termination of Trust (700.7401...700.7417) › Section 700.7405 - Charitable Trusts; Purposes; Enforcement.

700.7405 Charitable trusts; purposes; enforcement.
Sec. 7405.
(1) A charitable trust may be created for the relief of poverty, the advancement of education or religion, the promotion of health, scientific, literary, benevolent, governmental, or municipal purposes, any purpose described in section 501(c)(3) of the internal revenue code, 26 USC 501, or other purposes the achievement of which is beneficial to the community.
(2) If the terms of a charitable trust do not identify a particular charitable purpose or beneficiary, the court may select 1 or more charitable purposes or beneficiaries. The selection shall be consistent with the settlor's intention to the extent it can be ascertained.
(3) The settlor, a named beneficiary, or the attorney general of this state, among others, may maintain a proceeding to enforce a charitable trust. The right of the settlor of a charitable trust to enforce the trust is personal to the settlor and may not be exercised by any of the following:
(a) The settlor's heirs, assigns, or beneficiaries.
(b) The settlor's fiduciary, other than the trustee of the charitable trust the enforcement of which is being sought.
(c) An agent of the settlor acting pursuant to a durable power of attorney, unless the right to enforce the trust is expressly conferred on the agent by the power of attorney.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC
2023 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) › 386-1998-VII-4 - Part 4 Creation, Validity, Modification, and Termination of Trust (700.7401...700.7417) › Section 700.7406 - Creation of Trust Induced by Fraud, Duress, or Undue Influence.

700.7406 Creation of trust induced by fraud, duress, or undue influence.
Sec. 7406.
A trust is void to the extent its creation was induced by fraud, duress, or undue influence.
History:
1998, Act 386, Eff. Apr. 1, 2000 ;-- Am. 2004, Act 314, Eff. Sept. 1, 2004 ;-- Am. 2009, Act 46, Eff. Apr. 1, 2010
Popular Name:
EPIC