§ 700.7601 Capacity of settlor of revocable trust
§ 700.7602 Revocation or amendment of revocable trust
§ 700.7603 Powers of settlor; exceptions; settlor as incapacitated individual; powers of withdrawal; actions by predecessor trustee
§ 700.7604 Proceeding to contest validity of revocable trust; limitation; distribution of property; liability
§ 700.7605 Liability of trust for expenses, claims, and allowances
§ 700.7606 Payment of expenses and obligations of settlor’s estate; duty of trustee
§ 700.7607 Rules regarding payment of expenses and obligations; priority; decedent as settlor of more than 1 trust
§ 700.7608 Duty of trustee to give notice
§ 700.7609 Presentation of claims against trust
§ 700.7610 Presentation of claims to assert liability; time limitation; exceptions
§ 700.7611 Allowance or disallowance of claims against revocable trust
§ 700.7612 Payment of claims by trustee
§ 700.7613 Secured claims; payment; basis
§ 700.7614 Claims due at future time, contingent claim, or unliquidated claim
§ 700.7615 Counterclaims of trustee
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Terms Used In Michigan Laws > Chapter 700 > Act 386 of 1998 > Article VII > Part 6 - Revocable Trusts

  • Ability to pay: means the ability of a responsible party to pay for the cost of services, as determined by the department under section 818 and 819. See Michigan Laws 330.1800
  • Agent: includes , but is not limited to, an attorney-in-fact under a durable or nondurable power of attorney and an individual authorized to make decisions as a patient advocate concerning another's health care. See Michigan Laws 700.1103
  • Allegation: means an assertion of fact made by an individual that has not yet been proved or supported with evidence. See Michigan Laws 330.1772
  • Allegation: something that someone says happened.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appeals committee: means a committee appointed by the director or by the board of a community mental health services program or licensed hospital under section 774. See Michigan Laws 330.1772
  • Appellant: means the recipient, complainant, parent, or guardian who appeals a recipient rights finding or a respondent's action to an appeals committee. See Michigan Laws 330.1772
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney: means , if appointed to represent a child under the provisions referenced in section 5213, an attorney serving as the child's legal advocate in the manner defined and described in section 13a of chapter XIIA of the probate code of 1939, 1939 PA 288, MCL 712A. See Michigan Laws 700.1103
  • Authority: means the Michigan finance authority created by Executive Reorganization Order No. See Michigan Laws 141.1053
  • Board: means the board of directors of the authority. See Michigan Laws 141.1053
  • Bonds: means bonds of the authority issued under this act with a maturity greater than 3 years. See Michigan Laws 141.1053
  • Claim: includes , but is not limited to, in respect to a decedent's or protected individual's estate, a liability of the decedent or protected individual, whether arising in contract, tort, or otherwise, and a liability of the estate that arises at or after the decedent's death or after a conservator's appointment, including funeral and burial expenses and costs and expenses of administration. See Michigan Laws 700.1103
  • Community water supply: means a community water supply as defined in part 54 of the natural resources and environmental protection act, 1994 PA 451, MCL 324. See Michigan Laws 141.1053
  • Complainant: means an individual who files a rights complaint. See Michigan Laws 330.1772
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Conservator: means a person appointed by a court to manage a protected individual's estate. See Michigan Laws 700.1103
  • Contract: A legal written agreement that becomes binding when signed.
  • Cost of services: means the total operating and capital costs incurred by the department or a community mental health services program with respect to, or on behalf of, an individual. See Michigan Laws 330.1800
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Court: means the probate court or, when applicable, the family division of circuit court. See Michigan Laws 700.1103
  • Decedent: A deceased person.
  • Dependent: A person dependent for support upon another.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Distributee: means a person that receives a decedent's property from the decedent's personal representative or trust property from the trustee other than as a creditor or purchaser. 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
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Exempt property: means property of a decedent's estate that is described in section 2404. See Michigan Laws 700.1104
  • Family allowance: means the allowance prescribed in section 2403. See Michigan Laws 700.1104
  • Federal safe drinking water act: means 42 USC 300f to 300j-25. See Michigan Laws 141.1053
  • Federal water pollution control act: means 33 USC 1251 to 1389. See Michigan Laws 141.1053
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fully marketable form: means a municipal obligation duly executed and accompanied by all of the following:
  (i) An approving legal opinion of a bond counsel approved by the authority and of nationally recognized standing in the field of municipal law. See Michigan Laws 141.1053
  • Governmental unit: means this state, a county, city, township, village, school district, intermediate school district, community college, public university, authority, district, any other body corporate and politic or other political subdivision, any agency or instrumentality of the foregoing, or any group self-insurance pool formed pursuant to 1951 PA 35, MCL 124. See Michigan Laws 141.1053
  • Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Homestead allowance: means the allowance prescribed in section 2402. See Michigan Laws 700.1104
  • in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
  • Incapacitated individual: means an individual who is impaired by reason of mental illness, mental deficiency, physical illness or disability, chronic use of drugs, chronic intoxication, or other cause, not including minority, to the extent of lacking sufficient understanding or capacity to make or communicate informed decisions. See Michigan Laws 700.1105
  • Individual: means the individual, minor or adult, who receives services from the department or a community mental health services program or from a provider under contract with the department or a community mental health services program. See Michigan Laws 330.1800
  • Insurance coverage: means any policy, plan, program, or fund established or maintained for the purpose of providing for its participants or their dependents medical, surgical, or hospital benefits. See Michigan Laws 330.1800
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Investigation: means a detailed inquiry into and systematic examination of an allegation raised in a rights complaint. See Michigan Laws 330.1772
  • 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.
  • Letters: includes , but is not limited to, letters testamentary, letters of guardianship, letters of administration, and letters of conservatorship. See Michigan Laws 700.1105
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Money: means legal tender or a note, draft, certificate of deposit, stock, bond, check, or credit card. See Michigan Laws 700.1106
  • Municipal obligation: means a bond or note or evidence of debt issued by a governmental unit for a purpose authorized by law. See Michigan Laws 141.1053
  • Noncommunity water supply: means a noncommunity water supply as defined in part 54 of the natural resources and environmental protection act, 1994 PA 451, MCL 324. See Michigan Laws 141.1053
  • Notes: means an obligation of the authority issued as provided in this act, including commercial paper, with a maturity of 3 years or less. See Michigan Laws 141.1053
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Office: means all of the following:
    •   (i) With respect to a rights complaint involving services provided directly by or under contract with the department, unless the provider is a community mental health services program, the state office of recipient rights created under section 754. See Michigan Laws 330.1772
  • Parents: means the legal father and mother of an unmarried individual who is less than 18 years of age. See Michigan Laws 330.1800
  • Person: means an individual or an organization. See Michigan Laws 700.1106
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  • Personal property: All property that is not real property.
  • Personal representative: includes , but is not limited to, an executor, administrator, successor personal representative, and special personal representative, and any other person, other than a trustee of a trust subject to article VII, who performs substantially the same function under the law governing that person's status. See Michigan Laws 700.1106
  • Petition: means a written request to the court for an order after notice. See Michigan Laws 700.1106
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Power of withdrawal: means a presently exercisable general power of appointment other than a power that is either of the following:
    •   (i) Exercisable by a trustee and limited by an ascertainable standard. See Michigan Laws 700.7103
  • Probate: Proving a will
  • Proceeding: includes an application and a petition, and may be an action at law or a suit in equity. 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
  • Qualified trust beneficiary: means a trust beneficiary to whom 1 or more of the following apply on the date the trust beneficiary's qualification is determined:
    •   (i) The trust beneficiary is a distributee or permissible distributee of trust income or principal. See Michigan Laws 700.7103
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Reserve fund: means a bond reserve fund or note reserve fund created and established under section 16. See Michigan Laws 141.1053
  • Residential services: means 24-hour dependent care and treatment services provided by adult foster care facilities under contract to the department or a community mental health services program or provided directly by a community mental health services program. See Michigan Laws 330.1800
  • Respondent: means the service provider that had responsibility at the time of an alleged rights violation for the services with respect to which a rights complaint has been filed. See Michigan Laws 330.1772
  • Responsible party: means a person who is financially liable for services furnished to the individual. See Michigan Laws 330.1800
  • Revenues: means all fees, charges, money, profits, payments of principal of or interest on municipal obligations and other investments, gifts, grants, contributions, and all other income derived or to be derived by the authority under this act. See Michigan Laws 141.1053
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
  • Rights complaint: means a written or oral statement that meets the requirements of section 776. See Michigan Laws 330.1772
  • School loan act: means an act to implement section 16 of article IX of the state constitution of 1963, including, but not limited to, former 1961 PA 108, 1961 PA 112, MCL 388. See Michigan Laws 141.1053
  • Security: includes , but is not limited to, a note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in an oil, gas, or mining title or lease or in payments out of production under such a title or lease, collateral trust certificate, transferable share, voting trust certificate, or interest in a regulated investment company or other entity generally referred to as a mutual fund or, in general, an interest or instrument commonly known as a security, or a certificate of interest or participation for, a temporary or interim certificate, receipt, or certificate of deposit for, or any warrant or right to subscribe to or purchase any of the items listed in this subdivision. See Michigan Laws 700.1107
  • Settlor: means a person, including a testator or a trustee, who creates a trust. See Michigan Laws 700.7103
  • state: 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
  • 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
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Successor: means a person, other than a creditor, who is entitled to property of a decedent under the decedent's will or this act. 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
  • Uphold: The decision of an appellate court not to reverse a lower court decision.
  • Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.