Michigan Laws 700.1043 – Probate court; jurisdiction; venue
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Terms Used In Michigan Laws 700.1043
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Disposition: means a transfer of property that either creates a new fiduciary relation between at least 1 trustee and a trust beneficiary or newly subjects property to a preexisting fiduciary relation between at least 1 trustee and a trust beneficiary. See Michigan Laws 700.1042
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Probate: Proving a will
- Property: means that term as defined in section 1106 of the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 700.1042
- Qualified disposition: means , subject to subparagraphs (iii) and (iv), a disposition after which both subparagraphs (i) and (ii) apply to the subject property:
(i) The subject property is owned by 1 or more trustees at least 1 of whom is a qualified trustee. See Michigan Laws 700.1042Qualified trustee: means a person, other than the transferor, who meets all of the following conditions:
(i) For an individual, the individual is a resident of this state or, in all other cases, is authorized by the law of this state to act as a trustee and whose activities are subject to supervision by the department of insurance and financial services, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, or the Office of Thrift Supervision. See Michigan Laws 700.1042state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o Transferor: means any of the following, as applicable:
(i) A person and, for more than 1 owner of undivided interests, each of several persons, who, as a beneficial owner of certain property, or as the holder of a general power of appointment over certain property, directly or indirectly, makes a disposition of the property or causes a disposition to be made. See Michigan Laws 700.1042Trustee: A person or institution holding and administering property in trust. Venue: The geographical location in which a case is tried.
(1) The probate court has exclusive jurisdiction over an action that addresses either of the following questions:
(a) Whether a transfer is a qualified disposition.
(b) The extent of the transferor‘s interest in, or the income from, a qualified disposition.
(2) The probate court has concurrent jurisdiction over an action brought under section 5(2).
(3) Venue for a proceeding under subsection (1) or (2) is as follows:
(a) For a trust registered under section 7209 of the estates and protected individuals code, 1998 PA 386, MCL 700.7209, the place of registration.
(b) For a trust that is not registered, in any place where the trust properly could be registered.
(4) If a trust has no qualified trustee and has not been registered, and there is no place in this state where the trust properly could be registered, venue for a proceeding under subsection (1) or (2) is in the following order of priority, except to the extent otherwise provided by court rule:
(a) In a county in this state in which the immediately preceding qualified trustee had its usual place of business or residence.
(b) In a county in this state in which a trust beneficiary resides.
(c) In a county in this state in which any trust property is located.
(d) In any county in this state.