Can I change the terms of a trust?

Yes, you can change the terms of a trust in Michigan if certain conditions are met. A trust is a legal document created by an individual or entity, such as a business, to manage and distribute assets or money. When the creator of the trust (the trustor) passes away, the terms of the trust are set in stone. However, there are certain circumstances when the terms of the trust can be changed. In Michigan, the trustor or the beneficiary (the person who will receive money and assets from the trust) can request to modify or change the terms of the trust. Additionally, a judge may also approve changes to the trust. If you would like to change the terms of the trust, you must prepare a written document outlining the proposed changes. You must also obtain the permission of all the parties involved in the trust. If the beneficiary or trustor is a minor, you must also obtain court approval before making any changes. To ensure that the changes you would like to make are appropriate and legal, you might also wish to consult with a lawyer who specializes in Trusts and Estates Law. An experienced lawyer will help you to understand the implications of the changes you are proposing and advise you on how to proceed.

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