MI HB6131

Amends Michigan trust law (1998 PA 386) to define key trust terms including "discretionary trust provision," "qualified trust beneficiary," "trust director," and "power of withdrawal."

Allows trustees to transfer a trust's principal place of administration to another state or jurisdiction with 63 days' written notice to qualified beneficiaries, subject to beneficiary objection rights.

Permits modification or termination of noncharitable irrevocable trusts created after April 1, 2010 with consent of qualified beneficiaries and trustee, or through court approval if certain conditions are met.

Establishes rules for cotrustee actions requiring majority decision, delegation of powers with notice requirements, and liability protections for dissenting trustees.

Repeals section 7809 of the Estates and Protected Individuals Code and conditions the bill's effectiveness on simultaneous enactment of House Bills 6129 and 6130.