§ 14-612

Maryland § 14-612

• Jurisdiction: Maryland
• Article get: Estates and Trusts
• Title: 14

Text

(a) An authorized fiduciary may not exercise the decanting power to the extent that the first trust instrument expressly prohibits exercise of:

(1) The decanting power; or

(2) A power granted by State law to the fiduciary to distribute all or part of the trust to another trust or to modify the trust.

(b) Exercise of the decanting power is subject to any restriction in the first trust instrument that expressly applies to exercise of:

(1) The decanting power; or

(2) A power granted by State law to the fiduciary to distribute all or part of the trust to another trust or to modify the trust.

(c) Exercise of the decanting power is not prohibited by:

(1) A general prohibition of the amendment or revocation of a first trust;

(2) A spendthrift clause; or

(3) A clause restraining the voluntary or involuntary transfer of a beneficiary’s interest.

(d) Subject to subsections (a) and (b) of this section, an authorized fiduciary may exercise the decanting power even if the first trust instrument allows the authorized fiduciary or another person to modify the first trust instrument or to distribute part or all of the principal of the first trust to another trust.

(e) If a first trust instrument contains an express prohibition or restriction described in subsection (a) or (b) of this section, the same prohibition or restriction shall be included in any second trust instrument.