Michigan § 700.7821 - Distribution upon termination.
Full text of Michigan Michigan Compiled Laws § 700.7821 — Distribution upon termination., with citation guidance and answers to common questions.
§ 700.7821. Distribution upon termination.
(1) Upon termination or partial termination of a trust, the trustee may send to the trust beneficiaries a proposal for distribution. The right of any trust beneficiary to object to the proposed distribution terminates if the trust beneficiary does not notify the trustee of an objection within 28 days after the proposal was sent, but only if the proposal informed the trust beneficiary of the right to object and of the time allowed for objection.
(2) Upon the occurrence of an event terminating or partially terminating a trust, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to it, subject to the right of the trustee to retain a reasonable reserve for the payment of debts, taxes, and expenses, including attorney fees and other expenses incidental to the allowance of the trustee's accounts.
(3) A release by a trust beneficiary of a trustee from liability for breach of trust is invalid to the extent either of the following applies:
(a) The release was induced by improper conduct of the trustee.
(b) The trust beneficiary, at the time of the release, did not know of the material facts relating to the breach.
Frequently Asked Questions About Michigan § 700.7821
What does Michigan Compiled Laws § 700.7821 cover?
Section 700.7821 ("Distribution upon termination.") 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 § 700.7821?
A common citation format is "Michigan Compiled Laws § 700.7821" (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 § 700.7821 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.