§ 14-610. Special needs fiduciaries
West's Annotated Code of MarylandEstates and TrustsEffective: October 1, 2023
Effective: October 1, 2023
MD Code, Estates and Trusts, § 14-610
§ 14-610. Special needs fiduciaries
(b) A special needs fiduciary may exercise the decanting power over the principal of a first trust as if the fiduciary had authority to distribute principal to a beneficiary with a disability subject to expanded distributed discretion, if:
(c) Notwithstanding any provision to the contrary, in an exercise of the decanting power under this section:
(3) Except as affected by any change to the interests of the beneficiary with a disability, a second trust, or second trusts in the aggregate, shall grant each other beneficiary of the first trust beneficial interests in the second trusts that are substantially similar to the beneficiary's beneficial interests in the first trust.
Credits
Added by Acts 2023, c. 715, § 1, eff. Oct. 1, 2023; Acts 2023, c. 716, § 1, eff. Oct. 1, 2023.
MD Code, Estates and Trusts, § 14-610, MD EST & TRST § 14-610
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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