A bill to amend 1998 PA 386, entitled “Estates and protected individuals code,” (MCL 700.1101 to 700.8206) by adding section 7908a.
The legislation establishes procedures for trustees to settle accounts upon trust termination or trustee changes, requiring detailed reporting to beneficiaries and setting a 45-day objection period, after which asset distribution can proceed, with provisions for resolving objections and barring future claims.
Co-sponsored by Reps.
Referred to the Committee on Judiciary
Reported without amendment
