Section 14.5-605 – Limitation for Contesting Validity of Revocable Trust
A person shall commence a judicial proceeding to contest the validity of a trust that was revocable at the death of the settlor within the earliest of: (1) 1 year after the death of the settlor; or (2) 6 months after the trustee sends the person a copy of the trust instrument and a notice informing the […]
Section 14.5-501 – Creditor’s Claims
(a) A court may authorize a creditor or an assignee of a beneficiary to reach the interest of the beneficiary by attachment of present or future distributions to or for the benefit of the beneficiary or by other means if that interest is not subject to a discretionary distribution provision, a support provision, or a spendthrift […]
Section 14.5-606 – Treatment of Property or Benefits After Filing of Election
(a) (1) In this section the following words have the meanings indicated. (2) “Estate subject to election” has the meaning stated in § 3–401 of this article. (3) “Spousal benefits” has the meaning stated in § 3–401 of this article. (b) After the filing of an election to take an elective share under § 3–403 of this article becomes final: […]
Section 14.5-401 – Creation of Trust
A trust may be created by: (1) Transfer of property to another person as trustee during the lifetime of the settlor or by will or other disposition taking effect on the death of the settlor; (2) Declaration by the owner of property that the owner holds identifiable property as trustee; or (3) Exercise of a power of appointment […]
Section 14.5-402 – Requirements
(a) A trust is created only if: (1) The settlor has capacity to create a trust; (2) The settlor indicates an intention to create the trust; (3) The trust has a definite beneficiary or is: (i) A charitable trust; (ii) A trust for the care of an animal, as provided in § 14.5–407 of this subtitle; or (iii) A trust for a […]
Section 14.5-403 – Validity of Trust Not Created by Will
A trust not created by will is validly created if the creation of the trust complies with: (1) The law of the jurisdiction in which the trust instrument was executed; or (2) The law of the jurisdiction in which, at the time of creation: (i) The settlor was domiciled or was a national; (ii) A trustee of the trust […]
Section 14.5-404 – Purposes and Benefits
(a) A trust may be created only to the extent that the purposes of the trust are lawful, not contrary to public policy, and possible to achieve. (b) A trust and the terms of the trust shall be for the benefit of the beneficiaries of the trust.
Section 14.5-405 – Void Trusts
A trust is void to the extent that the creation of the trust was induced by fraud, duress, or undue influence.
Section 14.5-406 – Oral Trusts Established by Clear and Convincing Evidence
Except as required by a provision other than this title, a trust need not be evidenced by a trust instrument, but the creation of an oral trust and the terms of the oral trust may be established only by clear and convincing evidence.
Section 14.5-407 – Trusts for Care of Animal
(a) A trust may be created to provide for the care of an animal alive during the lifetime of the settlor. (b) A trust authorized by this section terminates: (1) If created to provide for the care of one animal alive during the lifetime of the settlor, on the death of the animal; or (2) If created to provide […]