Probate: trusts; uniform statutory rule against perpetuities; revise to reflect limitation of the personal property trust perpetuities act to certain property. Amends secs. 3 & 5 of 1988 PA 418 (MCL 554.73 & 554.75).
2023-2024 Regular Session
Michigan HB 4864 clarifies trust creation timing, tightens rules for second powers, and uses a 360-year measure to preserve GST-planning tools and reduce litigation risk.
REFERRED TO COMMITTEE ON CIVIL RIGHTS, JUDICIARY, AND PUBLIC SAFETY
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