Michigan § 700.7414 - Termination or modification of noncharitable trust; section inapplicable to easement for conservation or preservation.
Full text of Michigan Michigan Compiled Laws § 700.7414 — Termination or modification of noncharitable trust; section inapplicable to easement for conservation or preservation., with citation guidance and answers to common questions.
§ 700.7414. Termination or modification of noncharitable trust; section inapplicable to easement for conservation or preservation.
(1) After 63 days after notice to the qualified trust beneficiaries and, if the trust is a charitable trust, to the attorney general of this state, the trustee of a trust consisting of trust property having a total value less than $50,000.00 may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration. The $50,000.00 amount expressed in this section shall be adjusted each year as provided in section 1210.
(2) The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.
(3) Upon termination of a noncharitable trust under this section, the trustee shall distribute the trust property in the manner provided for in the terms of the trust, if any, and otherwise to the current income beneficiaries or, if there are no current income beneficiaries, in the manner directed by the court. Upon termination of a charitable trust under this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.
(4) This section does not apply to an easement for conservation or preservation.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 700.7414
What does Michigan Compiled Laws § 700.7414 cover?
Section 700.7414 ("Termination or modification of noncharitable trust; section inapplicable to easement for conservation or preservation.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 700.7414?
A common citation format is "Michigan Compiled Laws § 700.7414" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 700.7414 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.