Legal Question in Wills and Trusts in Michigan

Its up to the document, but if you are creating a trust or will, the answer is true, in Michigan a single person can be a settlor, trustee or beneficiary. Please contact me to discuss in more detail at www.johntatone.com

True. This is generally the case with a "revocable living trust", wher you are the settlor (creator of the trust), the trustee (the boss or manager of the trust, at least until you become incapacitated) and the beneficiary (during your lifetime). You will name successor trustees (for your incapacity) and other beneficiaries (death beneficiares) to receive your assets after you are gone. Note that this type of trust does not provide asset protection, but if done properly will help you avoid the probate process. Good luck!

Glenn R. Matecun

Estate Planning & Elder Law Attorney

www.MichiganEstatePlans.com