{"data":{"id":"us-mi/mich.-comp.-laws-700.7402","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 700.7402","heading":"Creating trust; requirements.","body":"Sec. 7402.\n\n(1) A trust is created only if all of the following apply:\n\n(a) The settlor has capacity to create a trust.\n\n(b) The settlor indicates an intention to create the trust.\n\n(c) The trust has a definite beneficiary or is either of the following:\n\n( i ) A charitable trust.\n\n( ii ) A trust for a noncharitable purpose under section 7409 or a trust for the care of an animal under section 7408.\n\n(d) The trustee has duties to perform.\n\n(e) The same person is not the sole trustee and sole beneficiary.\n\n(2) A trust beneficiary is definite if the trust beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.\n\n(3) A power in a trustee to select a trust beneficiary from an indefinite class is valid only in a charitable trust.","path":["MI Code","Chapter 700","Act Act-386-of-1998"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-700-7402","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"7984bd2e8af8a550bc0fb9d5c6f2c85e4e27f3ffac26fce0fe6aea5899d796be","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-700.7401","next":"us-mi/mich.-comp.-laws-700.7403"},"notice":"GroundRules: Original legal text. Not legal advice."}