EPIC Questions and Answers - Menu

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Would default trustee voting rules apply to a trust created prior to April 1, 2000? (ref. sections 7406 and 8101) 0626

When is a trustee held liable for the decisions made by other trustees? (ref. section 7406) 0607

What powers does a personal representative and trustee have to administer an estate where the decedent was the sole shareholder of a closely held corporation? (ref. sections 3715(p), 3715(l), 3715(r) and 7401(q)) 0557

Are co-trustees required to act by majority agreement or can a single trustee act individually? (ref. section 7406) 0540

How may beneficiaries be protected against being required to pay back an improper distribution? (ref. sections 7410 and 3911) 0524

If a trust document is silent, can a loan be made to a beneficiary as long as collateral is assigned and all beneficiaries and remaindermen sign approval? (ref. section 7401) 0523

May a trustee invest in its own bank products, including certificates of deposit, if the trustee considers it to be a prudent investment under the Michigan Prudent Investor Rule? (ref. sections 7401(2)(f) and 1503) 0513

May a quit claim deed be recorded when signed by an attorney in fact for a trustee of a trust with a Texas notary indicating that the deed was signed by the principal? (ref. section 7401(v)) 0485

Can an individual cotrustee effectively delegate all his or her authority to the corporate cotrustee if the trust is silent on such a delegation? (ref. sections 7406(2) and 7401(v)) 0432

May an attorney in fact exercise their principal's authority as a trustee when the power of attorney is silence as to such authorization? (ref. section 7401(v)) 0419

May a person who has been appointed as a fiduciary delegate his or her powers to a third party by the use of a power of attorney? (ref. sections 3715(v), 3717, 7401(v) and 7406) 0408

How may a trust be amended?  When does the antilapse statue applicable to trusts control?  Does a scrivener have a conflict if he acts as an advocate for a challenged document? (ref. 1104(j), 2701, 2714, 7201, 7402 and 7403) 0371

Does a trust in existence before April 1, 2000, acquire all the powers listed in the Estates and Protected Individuals Code (EPIC)? (ref. sections 8101 and 7401) 0267

When a "disinterested"  co-trustee resigns, is such trustee under a duty to petition for a successor to be appointed? (ref. section 7405) 0252

What are the requirements for dividing a testamentary trust? (ref. section 7401(2)(ff)) 0051

EPIC Questions and Answers - Menu

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Last Updated: 11-18-08

Send your comments, questions and suggestions to Phil Harter at 161 E Michigan Avenue, Battle Creek, Michigan 49014
or e mail to pharter@calhouncountymi.gov