‹ Back

Trust Administration in Michigan

 

By Jay Taylor, Attorney at Law

 

When a person who created a trust passes away or becomes incapacitated, the trustee assumes responsibility for managing and distributing trust assets according to the trust’s terms and Michigan law.

 

The trustee’s duties include:

• Locating and securing trust assets;
• Paying debts, expenses, and taxes;
• Keeping detailed records and providing accountings to beneficiaries;
• Distributing remaining assets as directed by the trust.
• Trustees owe a fiduciary duty to the beneficiaries, meaning they must act in good faith, avoid self-dealing, and manage assets prudently. Failure to meet these duties can result in personal liability.

 

Beneficiaries have rights as well. They may request accountings, challenge improper actions, or petition the probate court for trustee removal if necessary. In some cases, court oversight ensures transparency and fairness in administration.

Serving as a trustee is a serious legal responsibility. Whether you are a trustee seeking guidance or a beneficiary concerned about the administration of a trust, an experienced Michigan attorney can provide essential advice to protect your rights and fulfill the intent of the trust.