700.7504 Spendthrift provision or support provision; exceptions; "child" defined.
214 words·~1 min read·
/mi/chapter-700/700-7504A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
700.7504 Spendthrift provision or support provision; exceptions; "child" defined.
Sec. 7504.
(1)The interest of a trust beneficiary that is subject to a spendthrift provision, a support provision, or both may be reached in satisfaction of an enforceable claim against the trust beneficiary by any of the following:
(a)A trust beneficiary's child or former spouse who has a judgment or court order against the trust beneficiary for support or maintenance.
(b)A judgment creditor who has provided services that enhance, preserve, or protect a trust beneficiary's interest in the trust.
(c)This state or the United States.
(2)The court shall order the trustee to satisfy all or part of a judgment described in subsection
(1)only out of all or part of distributions of income or principal as they become due.
(3)Notwithstanding that the terms of the trust include a spendthrift provision, this section does not apply to the interest of a trust beneficiary that is subject to a discretionary trust provision.
(4)As used in this section, "child" includes any person for whom an order or judgment for child support has been entered in this or another state.
History: 1998, Act 386 , Eff. Apr. 1, 2000 ;-- Am. 2009, Act 46 , Eff. Apr. 1, 2010
Popular Name: EPIC