MCL - Index of 386-1998-VII
NOTE: Dates reflect any modification to item, not necessarily a change in law.
| Title | Subject |
|---|---|
| 386-1998-VII | 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. |
| Section 700.7102 | Scope. |
| Section 700.7103 | Definitions. |
| Section 700.7104 | Repealed. 2024, Act 1, Imd. Eff. Feb. 21, 2024. |
| Section 700.7105 | Duties and powers of trustee; provisions of law prevailing over terms of trust. |
| Section 700.7107 | Governing law. |
| Section 700.7108 | Principal place of administration. |
| Section 700.7109 | Notice; methods; waiver. |
| Section 700.7110 | Others treated as qualified beneficiaries. |
| Section 700.7111 | Nonjudicial settlement agreement. |
| Section 700.7112 | Rules of construction. |
| Section 700.7113 | Penalty clause for contest of trust. |
| Section 700.7114 | Trustee having insurable interest under life insurance policy; conditions. |
| 386-1998-VII-2 | PART 2 JUDICIAL PROCEEDINGS (700.7201...700.7211) |
| Section 700.7201 | Role of court in administration of trust. |
| Section 700.7202 | Jurisdiction over trustee and beneficiaries. |
| Section 700.7203 | Subject matter jurisdiction. |
| Section 700.7204 | Venue. |
| Section 700.7205 | Trust proceedings; dismissal of matters relating to foreign trusts. |
| Section 700.7206 | Court; concurrent jurisdiction of litigation involving trusts and third parties. |
| Section 700.7207 | Proceedings; review of employment of agents and compensation of trustee and employees of trustee. |
| Section 700.7208 | Trust proceedings; initiation by notice; interested persons. |
| Section 700.7209 | Registration of trust. |
| Section 700.7210 | Registration procedures. |
| Section 700.7211 | Registration; qualification of foreign trustee. |
| 386-1998-VII-3 | PART 3 REPRESENTATION (700.7301...700.7308) |
| Section 700.7301 | Representation; effect. |
| Section 700.7302 | Representation; conflict of interest; holder of power of revocation or amendment or power of appointment. |
| Section 700.7303 | Representation by fiduciaries and parents. |
| Section 700.7304 | Representation by person having substantially identical interest. |
| Section 700.7305 | Appointment of representative. |
| Section 700.7306-700.7308 | Repealed. 2009, Act 46, Eff. Apr. 1, 2010. |
| 386-1998-VII-4 | PART 4 CREATION, VALIDITY, MODIFICATION, AND TERMINATION OF TRUST (700.7401...700.7417) |
| 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 | Trusts for pets. |
| Section 700.7409 | Honorary trusts. |
| Section 700.7409a | Trusts with nondisclosure period. |
| Section 700.7410 | Modification or termination of trust; procedures for approval or disapproval. |
| Section 700.7411 | Modification or termination of noncharitable trust; consent; "settlor's representative" defined. |
| Section 700.7412 | Modification or termination of trust; unanticipated circumstances or inability to administer effectively. |
| Section 700.7413 | Cy pres. |
| Section 700.7414 | Termination or modification of noncharitable trust; section inapplicable to easement for conservation or preservation. |
| Section 700.7415 | Reformation to correct mistakes. |
| Section 700.7416 | Modification to achieve settlor's tax objectives; retroactive effect. |
| Section 700.7417 | Division or consolidation of trusts. |
| 386-1998-VII-5 | PART 5 CREDITOR'S CLAIMS; SPENDTHRIFT, SUPPORT, AND DISCRETIONARY TRUSTS (700.7501...700.7511) |
| 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. |
| 386-1998-VII-6 | PART 6 REVOCABLE TRUSTS (700.7601...700.7615) |
| Section 700.7601 | Capacity of settlor of revocable trust. |
| Section 700.7602 | Revocation or amendment of revocable trust. |
| Section 700.7603 | Powers of settlor; exceptions; settlor as incapacitated individual; powers of withdrawal; actions by predecessor trustee. |
| Section 700.7604 | Proceeding to contest validity of revocable trust; limitation; distribution of property; liability. |
| Section 700.7605 | Liability of trust for expenses, claims, and allowances. |
| Section 700.7606 | Payment of expenses and obligations of settlor's estate; duty of trustee. |
| Section 700.7607 | Rules regarding payment of expenses and obligations; priority; decedent as settlor of more than 1 trust. |
| Section 700.7608 | Duty of trustee to give notice. |
| Section 700.7609 | Presentation of claims against trust. |
| Section 700.7610 | Presentation of claims to assert liability; time limitation; exceptions. |
| Section 700.7611 | Allowance or disallowance of claims against revocable trust. |
| Section 700.7612 | Payment of claims by trustee. |
| Section 700.7613 | Secured claims; payment; basis. |
| Section 700.7614 | Claims due at future time, contingent claim, or unliquidated claim. |
| Section 700.7615 | Counterclaims of trustee. |
| 386-1998-VII-7 | PART 7 OFFICE OF TRUSTEE (700.7701...700.7709) |
| Section 700.7701 | Acceptance or rejection of trusteeship. |
| Section 700.7702 | Trustee's bond. |
| Section 700.7703 | Cotrustees; powers and duties; relief of liability. |
| 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. |
| Section 700.7703b | Separate trustees provision; trust instrument; duties and powers; liability; definitions. |
| Section 700.7704 | Vacancy in trusteeship; manner of filling; priority; appointment by court of additional trustee or fiduciary; definitions. |
| Section 700.7705 | Resignation of trustee; circumstances; issuance of orders and conditions; liability. |
| Section 700.7706 | Removal of trustee. |
| Section 700.7707 | Delivery of property by former trustee. |
| Section 700.7708 | Compensation of trustee. |
| Section 700.7709 | Reimbursement of expenses; advance of money as lien; advances and reimbursement not as self-dealing or breach of fiduciary duty. |
| 386-1998-VII-8 | PART 8 DUTIES AND POWERS OF TRUSTEE (700.7801...700.7821) |
| Section 700.7801 | Administration of trust; duties of trustee. |
| Section 700.7802 | Duty of loyalty. |
| Section 700.7803 | Impartiality; use of standards of Michigan prudent investor rule. |
| Section 700.7808 | Settlor's power to direct contrary to trust terms. |
| Section 700.7809 | Repealed. 2018, Act 664, Eff. Mar. 29, 2019. |
| Section 700.7810 | Control and protection of trust property. |
| Section 700.7811 | Recordkeeping and identification of trust property. |
| Section 700.7812 | Enforcement and defense of claims. |
| 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. |
| Section 700.7814 | Duty to inform and report. |
| Section 700.7815 | Discretionary powers; abuse; liability to beneficiary; rules; effect of limited or prohibited powers; exceptions. |
| Section 700.7816 | General powers of trustee. |
| Section 700.7817 | Specific powers of trustee. |
| Section 700.7818 | Environmental concerns or hazards; powers of trustee. |
| Section 700.7819 | Tax matters; powers of trustee. |
| Section 700.7820 | Payment provisions; facility. |
| Section 700.7820a | Irrevocable trust including discretionary trust provision; distribution; definitions. |
| Section 700.7821 | Distribution upon termination. |
| 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. |
| Section 700.7902 | Breach of trust; liability; damages. |
| Section 700.7903 | Damages in absence of breach. |
| Section 700.7904 | Attorney fees and costs; receipt of expenses and disbursements; reduction or denial of claim with respect to breach of trust. |
| Section 700.7905 | Commencement of proceedings; limitations. |
| Section 700.7906 | Reliance on trust instrument. |
| Section 700.7907 | Event affecting administration or distribution. |
| Section 700.7908 | Exculpation of trustee. |
| Section 700.7909 | Beneficiary's consent, release, or ratification of transaction. |
| Section 700.7910 | Personal liability of trustee; limitation. |
| Section 700.7911 | Interest as general partner. |
| Section 700.7912 | Protection of person dealing with trustee. |
| Section 700.7913 | Certificate of trust. |