Michigan Laws 700.7416 – Modification to achieve settlor’s tax objectives; retroactive effect
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 700.7416
- Court: means the probate court or, when applicable, the family division of circuit court. See Michigan Laws 700.1103
- Settlor: means a person, including a testator or a trustee, who creates a trust. See Michigan Laws 700.7103
- 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
To achieve the settlor‘s tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor’s probable intention. The court may provide that the modification has retroactive effect.