Michigan Laws 700.1308 – Breach of duty; remedies; order for accounting
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Terms Used In Michigan Laws 700.1308
- Court: means the probate court or, when applicable, the family division of circuit court. See Michigan Laws 700.1103
- Devisee: means a person designated in a will to receive a devise. See Michigan Laws 700.1103
- Estate: includes the property of the decedent, trust, or other person whose affairs are subject to this act as the property is originally constituted and as it exists throughout administration. See Michigan Laws 700.1104
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: includes , but is not limited to, a personal representative, funeral representative, guardian, conservator, trustee, plenary guardian, partial guardian, and successor fiduciary. See Michigan Laws 700.1104
- Heir: means , except as controlled by section 2720, a person, including the surviving spouse or the state, that is entitled under the statutes of intestate succession to a decedent's property. See Michigan Laws 700.1104
- 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.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Money: means legal tender or a note, draft, certificate of deposit, stock, bond, check, or credit card. See Michigan Laws 700.1106
- Person: means an individual or an organization. See Michigan Laws 700.1106
- Petition: means a written request to the court for an order after notice. See Michigan Laws 700.1106
- Property: means anything that may be the subject of ownership, and includes both real and personal property or an interest in real or personal property. See Michigan Laws 700.1106
- Protected individual: means a minor or other individual for whom a conservator has been appointed or other protective order has been made as provided in part 4 of article V. See Michigan Laws 700.1106
- Trust: includes , but is not limited to, an express trust, private or charitable, with additions to the trust, wherever and however created. See Michigan Laws 700.1107
- Ward: means an individual for whom a guardian is appointed. See Michigan Laws 700.1108
(1) A violation by a fiduciary of a duty the fiduciary owes to an heir, devisee, beneficiary, protected individual, or ward for whom the person is a fiduciary is a breach of duty. To remedy a breach of duty that has occurred or may occur, the court may do any of the following:
(a) Compel the fiduciary to perform the fiduciary’s duties.
(b) Enjoin the fiduciary from committing a breach of duty.
(c) Compel the fiduciary to redress a breach of duty by paying money, restoring property, or other means.
(d) Order a fiduciary to account.
(e) Appoint a special fiduciary to take possession of the estate‘s, ward’s, protected individual’s, or trust property and administer the property.
(f) Suspend the fiduciary.
(g) Remove the fiduciary as provided in this act.
(h) For a fiduciary otherwise entitled to compensation, reduce or deny compensation to the fiduciary.
(i) Subject to other provisions of this act protecting persons dealing with a fiduciary, void an act of the fiduciary, impose a lien or a constructive trust on property, or trace property wrongfully disposed of and recover the property or its proceeds.
(2) In response to an interested person’s petition or on its own motion, the court may at any time order a fiduciary of an estate under its jurisdiction to file an accounting. After due hearing on the accounting, the court shall enter an order that agrees with the law and the facts of the case.