22-Jan-18
Michigan Trust Decantings Redux
Take-Away: Michigan has two trust decanting statutes where trustees can transfer assets to a ‘new’ trust created by the trustee. One statute deals with changes to a trust’s administrative provisions. Another statute deals with changes to a trust’s dispositive provisions. As more clients use irrevocable dynasty-type trusts or spousal lifetime access trusts [SLATs] to exploit […]
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