(a) The capacity required to create, amend, revoke, or add property to a revocable trust, or to direct the actions of the trustee of a revocable trust, is the same as that required to make a will. (b) Nothing in this section shall be construed to prohibit the creation of a revocable trust if that creation is […]
(a) (1) Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust. (2) This subsection does not apply to a trust created under an instrument executed before January 1, 2015. (b) If a revocable trust is created or funded by more than one settlor: (1) To the extent the […]
(a) Except as provided in subsection (b) of this section, while a trust is revocable, rights of the beneficiaries are subject to the control of the settlor and the duties of the trustee are owed exclusively to the settlor. (b) While a trust is revocable and a settlor does not have the capacity to revoke the trust, […]
(a) This section applies: (1) (i) With respect to a final judgment of absolute divorce of the settlor and the settlor’s spouse, if the final judgment was entered into on or after October 1, 2016; or (ii) With respect to an annulment of the marriage, if the annulment occurred on or after October 1, 2016; and (2) Unless otherwise expressly […]
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 […]
(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: […]
