In Michigan, trusts are legal instruments designed to manage and distribute assets for the benefit of specific individuals or entities. A trust is established by an individual known as the settlor, and it is managed by a trustee, who has a fiduciary duty to act in the best interest of the beneficiaries.
What is the downside of having a trust?
While you can create this legal document yourself or use an online template, you may get some extra peace of mind using an online legal service or getting professional legal help from an attorney. An attorney can help ensure your trust document is thorough and aligned with your wishes.
How much does it cost to set up a trust in Michigan?
No state law in Michigan prevents you from drafting your own living trust document.
What is the average cost of a trust in Michigan?
The average cost for a living trust drafted by an attorney typically ranges from $1,000-$3,000 for basic situations, while complex estates might run $3,000-$5,000 or more. Yes, its the most expensive option, but theres real value behind that price tag.
Nov 1, 2022 Indenture of Mortgage and Deed of Trust dated as of March 1, 1944 (Exhibit 7-D to Michigan. Consolidated Gas Company Registration Statement
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