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 14.5-109 – Notice
(a) (1) Notice to a person under this title or the sending of a document to a person under this title shall be accomplished in a manner reasonably suitable under the circumstances and likely to result in receipt of the notice or document. (2) Permissible methods of notice to a person or for sending a document to a […]
Section 14.5-110 – Qualified Beneficiaries
(a) Whenever notice to qualified beneficiaries of a trust is required under this title, the trustee shall also give notice to any other beneficiary that has sent the trustee a request for notice. (b) A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under […]
Section 14.5-111 – Nonjudicial Settlement Agreements
(a) In this section, “interested person” means a person whose consent would be required in order to achieve a binding settlement were the settlement to be approved by the court. (b) Except as otherwise provided in subsection (c) of this section, on or after October 1, 2016, interested persons may enter into a binding nonjudicial settlement agreement […]
Section 14.5-112 – Inter Vivos Trust — Applicability of Other Sections
(a) In the absence of express language to the contrary, the rules contained in §§ 1–202, 1–203, 1–204, 1–205, 1–206, 1–207, 1–208, 1–209, and 1–210.1 of this article shall be applied in construing the terms of an inter vivos trust. (b) Whenever a provision in §§ 1–202, 1–203, 1–204, 1–205, 1–206, 1–207, 1–208, 1–209, and 1–210.1 of […]
Section 14.5-201 – Intervention in Administration of Trust
(a) On the invocation of the court’s jurisdiction by an interested person, on the court’s own motion, or as otherwise provided by law, the court may intervene actively in the administration of a trust, fashioning and implementing remedies as the public interest and the interests of the beneficiaries may require. (b) A trust is not subject to […]
Section 14.5-101 – Short Title
This title may be cited as the Maryland Trust Act.
Section 14.5-102 – Application of Title
This title applies to express charitable or noncharitable trusts and trusts created in accordance with a statute (including the Maryland Discretionary Trust Act, unless otherwise provided by the statute), judgment, or decree that requires the trust to be administered in the manner of an express trust.