700.7503 Trust for support.
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700.7503 Trust for support.
Sec. 7503.
(1)The interest of a trust beneficiary that is subject to a support provision may not be transferred and the trust property is not subject to the enforcement of a judgment until income or principal, or both, is distributed directly to the trust beneficiary. After a distribution to a trust beneficiary whose interest is subject to a support provision, the income and principal distributed are subject to the enforcement of a judgment only to the extent that the income or principal, or both, is not necessary for the health, education, support, or maintenance of the trust beneficiary.
(2)The use or enjoyment of trust property by a trust beneficiary whose interest is subject to a support provision may not be transferred and is not subject to the enforcement of a judgment against the trust beneficiary.
(3)Subsections
(1)and
(2)do not apply under circumstances described in section 7504, 7506, or 7507.
History: 1998, Act 386 , Eff. Apr. 1, 2000 ;-- Am. 2000, Act 177 , Imd. Eff. June 20, 2000 ;-- Am. 2009, Act 46 , Eff. Apr. 1, 2010
Popular Name: EPIC