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HB4034
HB4034: Updating Trust Rules for Personal Property
Last scannedAug 24, 2026, 10:53 AM
In one sentence
This bill changes state laws about how long certain trusts can last by limiting a specific rule to only some types of personal property.
What it does
- Revises the uniform statutory rule against perpetuities in trust law.
- Limits the Personal Property Trust Perpetuities Act to apply only to certain property.
Who it affects
Not clearly identified in the stored source.
Limits and unknowns
- The official text does not list which specific types of personal property are covered by the new limits.
- No effective date is provided because the bill has only been sent to a committee for review.
Official record
Sources
Official summary
Probate: trusts; uniform statutory rule against perpetuities; revise to reflect limitation of the personal property trust perpetuities act to certain property. Amends secs. 3 & 5 of 1988 PA 418 (MCL 554.73 & 554.75). TIE BAR WITH: HB 4033'25