§ 14.5-203. Determination of benefits of beneficiaries
West's Annotated Code of MarylandEstates and TrustsEffective: January 1, 2015
Effective: January 1, 2015
MD Code, Estates and Trusts, § 14.5-203
§ 14.5-203. Determination of benefits of beneficiaries
(a)(1) A discretionary power conferred on the trustee to determine the benefits of a beneficiary is subject to judicial control to prevent misinterpretation or abuse of the discretion of the trustee.
(2) The benefits to which a beneficiary of a discretionary distribution provision is entitled, and what may constitute an abuse of discretion by the trustee, depend on the terms of the discretion, including the proper construction of accompanying standards, and on the settlor's purposes in granting the discretionary power and in creating the trust.
Credits
Added by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015.
MD Code, Estates and Trusts, § 14.5-203, MD EST & TRST § 14.5-203
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document |