§ 14-615

Maryland § 14-615

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

Text

An authorized fiduciary may not exercise the decanting power to modify a provision in a first trust instrument granting another person the power to remove or replace the authorized fiduciary unless:

(1) If the modification applies only to the person, the person holding the power consents to the modification in a signed record;

(2) The person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or

(3) A court approves the modification and the modification grants a substantially similar power to another person.