Estate & trust question.
Let say I have a Trust. I revoke that trust today.
And I have a bank account with 300,000 in it. So tomorrow morning, I get hit by a bus.
I did not have time to go to the bank, and tell them A) I revoked the trust, and B) did not have time to change the beneficiary on the bank paperwork, so I’m dead, and the beneficiary is still listed as MY TRUST.
Since my trust is dissolved, what happens to that 300,000 in the account ? My trust can’t be a beneficiary since it doesn’t exist ?
1 Answer from Attorneys
Your heirs under intestate law of Michigan.