Trying to figure out which Trust fits? A free role check shows you where you stand.
Start the free role checkCommon types of Trusts in Michigan
Revocable living Trust
Created during life and changeable anytime; commonly used to avoid probate and plan for incapacity. You keep control — so it is not asset protection.
Irrevocable Trust
Generally can't be changed or revoked once created; you give up control in exchange for benefits some irrevocable Trusts can offer, such as certain tax or planning goals. Fact-specific — for an attorney to design.
Testamentary Trust
Created by your will and funded only after death, through probate. Useful for leaving assets to minors or in stages.
Special needs (supplemental needs) Trust
Holds assets for a beneficiary with disabilities without disrupting needs-based public benefits like Medicaid or SSI, when properly drafted.
Spendthrift Trust
Includes a spendthrift provision that restrains a beneficiary's ability to transfer their interest and limits some creditors' reach (MCL 700.7502), within limits.
Charitable Trust
Benefits a charitable purpose; certain forms can combine giving with income or tax planning. Design and compliance are an attorney/advisor matter.
Trust for a pet
A Michigan trust for the care of a designated domestic or pet animal alive during the settlor's lifetime (MCL 700.7408); it ends at the death of the last animal it covers, and a person the trust or the court appoints can enforce it.
Which type of Trust fits your goals?
Trusts are tools — the right one (if any) depends entirely on your goals, your family, your assets, and tax considerations. This page is general information, not legal advice. A free role check can show you where you stand, and a Michigan attorney can design what fits your situation.
General information about Michigan law, not legal advice.
Frequently asked questions
- What types of trusts does Michigan recognize?
- Among them revocable and irrevocable trusts (MCL 700.7602), spendthrift and support trusts (MCL 700.7502, 700.7503), discretionary trusts (MCL 700.7505), trusts with a nondisclosure period (MCL 700.7409a), and trusts with a trust director or separate trustees (MCL 700.7703a, 700.7703b).
- What is a support trust in Michigan?
- A trust whose provision directs distributions for a beneficiary's support; the interest cannot be transferred or reached by a judgment until distributed, and afterward only to the extent not needed for the beneficiary's health, education, support or maintenance (MCL 700.7503).
General information about Michigan law, not legal advice.