Michigan Laws 556.117 – Naming appointees by donees of powers
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 556.117
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Creating instrument: means a deed, will, trust agreement, or other writing or document that creates or reserves a power. See Michigan Laws 556.112
- Power: means a power of appointment over property. See Michigan Laws 556.112
The donee of any power may appoint the whole or any part of the appointive assets to any 1 or more of the permissible appointees and exclude others, except as otherwise provided in the creating instrument.