Mi Living Trust

Michigan Living Trust for Individual Who is Single, Divorced or Widow (or Widower) with No Children
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State:
Control #:
MI-E0175
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Available formats: Word | Rich Text

Description

This Living Trust for Individual Who is Single, Divorced or Widow (or Widower) with No Children form is a living trust form prepared for your state. It is for an individual who is either single, divorced or widowed with no children. A living trust is a trust established during a person's lifetime in which a person's assets and property are placed within the trust, usually for the purpose of estate planning. The trust then owns and manages the property held by the trust through a trustee for the benefit of named beneficiary, usually the creator of the trust (settlor). The settlor, trustee and beneficiary may all be the same person. In this way, a person may set up a trust with his or her own assets and maintain complete control and management of the assets by acting as his or her own trustee. Upon the death of the person who created the trust, the property of the trust does not go through probate proceedings, but rather passes according to provisions of the trust as set up by the creator of the trust.

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FAQ

Does a living trust become irrevocable upon death?

Can a trust be changed after one spouse dies?

What happens to a living trust when one spouse dies?

Who is considered next of kin in Michigan?

How is next of kin determined?

Does a living trust dissolved upon death?

Who inherits when there is no will in Michigan?

How much does it cost for a simple trust?

What happens to marital trust When spouse dies?

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