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The transfer document should list assets you're transferring to the Trust. It's good to be specific, but you can use broad categories (like “furniture,” “clothing,” “jewelry,” etc.) without listing every item in each of those categories.

Our clients often ask us, “Should I title my vehicle into my Living Trust?” The short answer is yes. For personal vehicles, it's usually best to include them in your living trust to make life easier for your heirs (company vehicles are typically titled in the name of the company).

Limited Asset Protection: While it provides privacy, a living trust may not shield assets from creditors or lawsuits as effectively as an irrevocable trust. Funding Challenges: Transferring assets into the trust can be overlooked or require constant updates as financial situations change.

Legal Resources If you have a trust in Michigan, state law provides that you can register the trust. Registering a Michigan trust is not required (except for certain charitable trusts, as discussed below). Even for non-charitable trusts, there are good reasons that a trust should be registered.

A living trust in Michigan offers the advantage of bypassing probate, ensuring a smoother transfer of assets after death. Distribution to heirs can occur much more quickly, often within weeks instead of months or years.

Now is also a good time to decide who you want to pass your property on to after you die. Create the trust document. You can do this by yourself through an internet program or with the help of an attorney. Sign the trust document in front of a notary public.

Generally, trusts are administered outside of Probate Court. However, situations may arise that require Court involvement. For example, a trust may need to be modified, or a trustee may need to be removed. In those situations, an interested party may file a petition in the Probate Court.

Legal Requirements for a Certificate of Trust in Michigan The name of the trust, the date of the trust, and the date of each operative trust instrument. The name and address of each current trustee. The powers of the trustee relating to the purposes for which the certificate of trust is being offered.

Putting together a Living Trust is a process that requires careful evaluation of your unique situation. Of course, you will need to have the Living Trust document drafted and signed before transferring property into the trust. It is also essential that you have your Michigan Trust notarized.