Michigan Laws 700.7210 – Registration procedures
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 700.7210
- Court: means the probate court or, when applicable, the family division of circuit court. See Michigan Laws 700.1103
- Probate: Proving a will
- 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
- Settlor: means a person, including a testator or a trustee, who creates a trust. See Michigan Laws 700.7103
- State: means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or a territory or insular possession subject to the jurisdiction of the United States. See Michigan Laws 700.1107
- terms of the trust: means the manifestation of the settlor's intent regarding a trust's provisions as expressed in the trust instrument or as may be established by other evidence that would be admissible in a judicial proceeding. See Michigan Laws 700.1107
- 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
- Trust instrument: means a governing instrument that contains the terms of the trust, including any amendment to a term of the trust. See Michigan Laws 700.7103
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional, or successor trustee, whether or not appointed or confirmed by the court. See Michigan Laws 700.1107
(1) A trust is registered by the filing of a statement that states the trustee‘s name and address and in which the trustee acknowledges the trusteeship. The statement shall indicate if the trust has been registered elsewhere. The statement shall identify the trust in 1 of the following manners:
(a) For a trust created by will, by the name of the testator and the date and place of domiciliary probate.
(b) For a written inter-vivos trust, by the name of each settlor and the original trustee and the date of the trust instrument and all amendments existing on the date of registration.
(c) For an oral trust, by information identifying the settlor or other source of property and describing the trust’s time and manner of creation and the terms of the trust, including the subject matter, beneficiaries, and time of performance.
(2) The trust instrument is not required to be filed with the court as part of the registration of a trust. If a trust is registered elsewhere, registration in this state is ineffective until the earlier registration is released by order of the court where that registration occurred or by an instrument executed by the trustee and all qualified trust beneficiaries. The order or instrument shall be filed with the registration in this state.