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4 chapters · 555 sections in this title.
Mich. Comp. Laws § 700.7815 Discretionary powers; abuse; liability to beneficiary; rules; effect of limited or prohibited powers; exceptions.
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Sec. 7815. (1) A beneficiary of a discretionary trust provision as described in section 7505 has no property right in a trust interest that is subject to a discretionary trust provision, and has no right to any amount of trust income or principal that may be distributed only in t…
Mich. Comp. Laws § 700.7816 General powers of trustee.
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Sec. 7816. (1) A trustee, without authorization by the court, may exercise all of the following: (a) Powers conferred by the terms of the trust. (b) Except as limited by the terms of the trust, all of the following: (i) All powers over the trust property that an unmarried compete…
Mich. Comp. Laws § 700.7817 Specific powers of trustee.
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Sec. 7817. Without limiting the authority conferred by section 7816, a trustee has all of the following powers: (a) To take possession, custody, or control of property transferred to the trust and accept or reject additions to the trust. (b) To retain property that the trustee re…
Mich. Comp. Laws § 700.7818 Environmental concerns or hazards; powers of trustee.
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Sec. 7818. (1) In connection with an environmental concern or hazard, a trustee may do any of the following: (a) Inspect property or the operation of a business activity on property, including property held in or operated by a sole proprietorship, partnership, corporation, or lim…