{"id":138,"date":"2009-06-24T13:16:40","date_gmt":"2009-06-24T20:16:40","guid":{"rendered":"http:\/\/www.lichtermanlaw.com\/?p=138"},"modified":"2009-06-24T13:16:40","modified_gmt":"2009-06-24T20:16:40","slug":"michigan-trust-code-signed-into-law","status":"publish","type":"post","link":"https:\/\/www.lichtermanlaw.com\/index.php\/michigan-trust-code-signed-into-law\/","title":{"rendered":"Michigan Trust Code signed into law"},"content":{"rendered":"<p>Just this past week, the Michigan Trust Code was signed into law.  It is officially Public Act 46 of 2009 (2009 PA 46).  The Code will replace the current Article 7 of Michigan&#8217;s Estates and Protected Individuals Code and will become effective April 1, 2010.  Among other things, it does the following*:<\/p>\n<ul>\n<li>the capacity required to create, amend, or revoke a revocable trust, or to direct the actions of its trustee, are the same as that required to make a will<\/li>\n<li>allows a settlor to revoke or amend a trust unless the terms of the trust provide that it is irrevocable<\/li>\n<li>provides that certain rules of construction that apply to the interpretation and disposition of property by will also apply to trust property<\/li>\n<li>provides for representation of beneficiaries by fiduciaries and others in such matters as the receipt of notice and consent<\/li>\n<li>specifies requirements for the creation of a trust<\/li>\n<li>provides that a trust may be created only to the extent its purposes were lawful, not contrary to public policy, and possible to achieve<\/li>\n<li>allows the settlor, a named beneficiary, or the Attorney General, among others, to maintain a proceeding to enforce a charitable trust<\/li>\n<li>provides that a trust is void to the extent its creation was induced by fraud, duress, or undue influence<\/li>\n<li>provides for the modification and termination of trusts and allows the termination of uneconomic trusts<\/li>\n<li>indicates how a trustee accepts a trusteeship<\/li>\n<li>provides for co-trustees, the appointment of a successor trustee if a vacancy in a trusteeship occurs, and circumstances in which a trustee may resign, and<\/li>\n<li>requires a trustee to administer the trust solely in the interests of the trust beneficiaries<\/li>\n<\/ul>\n<p><em>*Summary of certain changes as stated in &#8220;ICLE&#8217;s This Week in Michigan Law &#8211; June 23, 2009&#8221;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just this past week, the Michigan Trust Code was signed into law. It is officially Public Act 46 of 2009 (2009 PA 46). The Code will replace the current Article 7 of Michigan&#8217;s Estates and Protected Individuals Code and will become effective April 1, 2010. Among other things, it does the following*: the capacity required [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-138","post","type-post","status-publish","format-standard","hentry","category-estate-planning"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/posts\/138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/comments?post=138"}],"version-history":[{"count":3,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/posts\/138\/revisions"}],"predecessor-version":[{"id":141,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/posts\/138\/revisions\/141"}],"wp:attachment":[{"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/media?parent=138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/categories?post=138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lichtermanlaw.com\/index.php\/wp-json\/wp\/v2\/tags?post=138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}