§ 15-520. Property not providing sufficient income
West's Annotated Code of MarylandEstates and Trusts
West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 15. Fiduciaries (Refs & Annos)
Subtitle 5. Maryland Uniform Principal and Income Act (Refs & Annos)
Part IV. Allocation of Receipts During Administration of Trust (Refs & Annos)
Subpart C. Receipts Normally Apportioned (Refs & Annos)
MD Code, Estates and Trusts, § 15-520
§ 15-520. Property not providing sufficient income
(a)(1) If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers from principal to income under § 15-502.2(a) of this subtitle and distributes to the spouse from principal in accordance with the terms of the trust are insufficient to provide the spouse with the beneficial enjoyment required to obtain the marital deduction, the spouse may require the trustee to make property productive of income, convert property within a reasonable time, or may request the trustee exercise the power conferred by § 15-502.2(a) of this subtitle.
Credits
Added by Acts 2000, c. 292, § 2, eff. Oct. 1, 2000. Amended by Acts 2002, c. 478, § 1, eff. Oct. 1, 2002.
MD Code, Estates and Trusts, § 15-520, MD EST & TRST § 15-520
Current through legislation effective through April 25, 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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