Michigan Laws 556.125 – Suspension or postponement of vesting of future interests; time period when trust creator reserves power to amend or revoke
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Terms Used In Michigan Laws 556.125
- Power: means a power of appointment over property. See Michigan Laws 556.112
- Release: means renunciation, relinquishment, surrender, refusal to accept, and any other form of release. See Michigan Laws 556.112
- Trust: means that term as defined in section 2901 of EPIC, MCL 700. See Michigan Laws 556.112
When the creator of a trust reserves to himself an unqualified power to amend or revoke, the period during which the vesting of a future interest may be suspended or postponed begins when the unqualified power to amend or revoke terminates, whether by reason of the death of the trust creator, by release or otherwise; or on the effective date of the instrument exercising the power to revoke.