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Maryland Code, Estates and Trusts § 14-619

Current as of January 01, 2024 | Updated by FindLaw Staff

(a) If an exercise of the decanting power violates the provisions of this subtitle solely because a second trust instrument in part does not comply with the requirements of this subtitle, the exercise is effective.

(b) If an exercise of the decanting power is effective notwithstanding a failure to meet any requirement of this subtitle in accordance with subsection (a) of this section, with respect to the principal of the second trust attributable to the exercise of the power:

(1) Any provision in the second trust instrument prohibited by this subtitle is void to the extent necessary to comply with this subtitle; and

(2) The second trust instrument shall be treated as containing any provision which is required by this subtitle but not included in the instrument.

(c) If a trustee or other fiduciary of a second trust determines that an exercise of the decanting power is effective notwithstanding a failure to meet any requirement of this subtitle under subsection (a) of this section, that fiduciary shall take corrective action.

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Cite this article: FindLaw.com - Maryland Code, Estates and Trusts § 14-619 - last updated January 01, 2024 | https://codes.findlaw.com/md/estates-and-trusts/md-code-est-and-trst-sect-14-619.html

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