 
OVERHAUL OF PROBATE CODE By:
James P. Dean
The Estates and Protected Individuals Code ("EPIC")
is the first major revision of the Michigan probate code in over 20
years. This change is effective
April 1, 2000, and, among other things, will affect several aspects
of will and trust construction and transfers.
Of particular interest to our clients should be (1) some new
rules for distributions to the children of a deceased child, (2) the
availability of a form of will which is "self-proving" (no
need to take formal testimony in court to prove the will of a decedent),
and (3) the application of higher standards for investments by probate
personal representatives and trustees of trusts under the new "prudent
investor rule." |
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