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

HB 4034 amends Michigan's probate law to adjust rules governing trusts that could last indefinitely ("rule against perpetuities"). It specifically revises the time limit for certain trust interests from 90 years to 360 years when a second power of appointment is exercised, as defined in the 2008 Personal Property Trust Perpetuities Act. The bill affects trust creators, beneficiaries, and estate planners by clarifying when trust interests are considered created and modifying time limits for perpetuity violations. It does not change existing rules for most marital agreements, fiduciary powers, or trusts created before 1988.