Michigan Living Trust Forms
Download a Michigan Living Trust form which is a way to transfer property and assets to a separate entity for the benefit of another. A trust provides flexibility in that a grantor can designate when and how the assets will be distributed to the beneficiaries. For an example, a Grantor can impose an age restriction on the asset distribution or a require that the assets be spent only on certain things like education.
Revocable vs. Irrevocable: A revocable trust can be revoked or modified during the life of the grantor, while an irrevocable trust is not meant ot be modified without incurring certain tax or other penalties.