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).

HB 5793 amends Michigan's Uniform Statutory Rule Against Perpetuities to clarify when certain property interests and powers are considered created within trusts. The bill specifically adjusts the rules for interests arising from transfers into previously funded trusts, stating they are created at the time of the original contribution rather than when the new interest is established. It also refines how the law applies to non-donative transfers, such as divorce settlements or wills, and modifies the time limit for specific powers under the Personal Property Trust Perpetuities Act from 90 years to 360 years. These changes aim to provide clearer guidelines for legal professionals and estate planners regarding the duration and vesting of trust assets.