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4 chapters · 555 sections in this title.
Mich. Comp. Laws § 700.1041 Short title.
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Sec. 1. This act shall be known and may be cited as the "qualified dispositions in trust act".
Mich. Comp. Laws § 700.1042 Definitions.
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Sec. 2. As used in this act: (a) "Advisor" means a person who is given authority by the terms of a trust instrument to remove, appoint, or both, 1 or more trustees or to direct, consent to, approve, or veto a trustee's actual or proposed investment or distribution decisions. A pe…
Mich. Comp. Laws § 700.1043 Probate court; jurisdiction; venue.
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Sec. 3. (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 probat…
Mich. Comp. Laws § 700.1044 Powers and rights of transferor.
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Sec. 4. (1) A transferor has only the powers and rights that are conferred by the trust instrument. Except as otherwise provided in subsection (2), a transferor does not have powers or rights with respect to the property that is the subject of a qualified disposition or the incom…