Michigan § 700.7507 - Overdue distribution; "mandatory distribution" defined.
Full text of Michigan Michigan Compiled Laws § 700.7507 — Overdue distribution; "mandatory distribution" defined., with citation guidance and answers to common questions.
§ 700.7507. Overdue distribution; "mandatory distribution" defined.
(1) Whether or not a trust contains a spendthrift provision, a creditor or assignee of a trust beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the trust beneficiary within a reasonable time after the designated distribution date.
(2) As used in this section, "mandatory distribution" means a distribution of income or principal that the trustee is required to make to a trust beneficiary under the terms of the trust, including a distribution upon termination of the trust. Mandatory distribution does not include a distribution subject to the exercise of the trustee's discretion even if either of the following applies:
(a) The direction is expressed in the form of a standard of distribution.
(b) The terms of the trust authorizing a distribution use language of discretion and language of direction.
Frequently Asked Questions About Michigan § 700.7507
What does Michigan Compiled Laws § 700.7507 cover?
Section 700.7507 ("Overdue distribution; "mandatory distribution" defined.") 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 § 700.7507?
A common citation format is "Michigan Compiled Laws § 700.7507" (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 § 700.7507 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.