Further Protection for Family Assets

On December 8, 2016, Governor Snyder signed Senate Bill 0597, the Qualified Dispositions in Trust Act, into law, which became Public Act 0330 of 2016.  This Act validates the formation of asset protection trusts in Michigan and makes qualified contributions to the trust immune from certain claims of creditors, including certain claims to avoid fraudulent transfers.

 

Categories: Case Alerts, KT

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