Maryland Statutes

§ 14-615

Maryland·Article get Estates and Trusts·Title 14

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.

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Nearby Sections

15
§ 14-301
§ 14-301
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§ 14-306
§ 14-306
§ 14-307
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§ 14-401
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§ 14-402
§ 14-402
§ 14-403
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