2018 Maryland Code
Estates and Trusts
Title 14 - Trusts
Subtitle 4 - Maryland Discretionary Trust Act
§ 14-407. Forms
(a) Transfers. -- The following form may be used to create a trust by transfer:
"Transfer Under the Maryland Discretionary Trust Act
A. I, (name of transferor or name of representative capacity if a
fiduciary), transfer the property described in paragraph D to the trustee
named in paragraph B, and such trustee's successors, to be held in trust under
the Maryland Discretionary Trust Act by the trustee for the benefit of the
beneficiary named in paragraph C.
B. 1. The trustee shall be .
(name one or more)
2. At any time when the trustee is unable to serve as trustee, the
following persons shall succeed as trustee in the order named (specify who
replaces whom for multiple trustees):
i.
ii.
iii. .
C. The beneficiary shall be
(name one only)
D. The trust property shall be:
1.
2.
E. The trust shall terminate upon the first to occur of (check those
applicable):
1. the death of the beneficiary
2. the following date:
3. the following event:
.
F. Upon termination, the remaining trust property shall be distributed
to .
(name person or persons)
G. Revocability (check one):
1. The transferor may revoke this trust.
2. The transferor may not revoke this trust.
Signature of transferor
Date of execution
Signature of witness
Date:
Name of attorney preparing this statement of
transfer:
State of Maryland, : ss
I hereby certify that on (fill in date) before me, a notary
public of the State of Maryland, personally appeared (name of
transferor) known to me, or satisfactorily proven, to be the person whose name
is subscribed to the within instrument and who acknowledges that he/she
(strike one) executed the same for the purposes therein contained.
Witness my hand and Notarial Seal.
Notary Public
My commission expires: ."
(b) Declarations. -- The following form may be used to create a trust by
declaration:
"Declaration of Trust Under the Maryland Discretionary Trust Act
A. I, (name of property owner) declare that henceforth I as
trustee will hold the property described in paragraph D in trust under the
Maryland Discretionary Trust Act for the benefit of the beneficiary named in
paragraph C.
B. 1. At any time when I am unable to serve as trustee, the trustee
shall be:
(name one or more)
2. At any time when the trustee who succeeds me is unable to serve as
trustee, the following persons shall succeed as trustee in the order named
(specify who replaces whom for multiple trustees):
i.
ii.
iii. .
C. The beneficiary shall be .
D. The trust property shall be:
1.
2. .
E. The trust shall terminate upon the first to occur of (check those
applicable):
1. The death of the beneficiary
2. The following date:
3. The following event:
.
F. Upon termination, the remaining trust property shall be distributed to
.
(name person or persons)
G. Revocability (check one):
1. The declarant may revoke this trust.
2. The declarant may not revoke this trust.
Signature of declarant
Date of execution
Signature of witness
Date
Name of attorney preparing this declaration:
State of Maryland, : ss
I hereby certify that on (fill in date) before me, a notary
public of the State of Maryland, personally appeared (name of declarant)
known to me, or satisfactorily proven, to be the person whose name is
subscribed to the within instrument and who acknowledges that he/she (strike
one) executed the same for the purposes therein contained.
Witness my hand and Notarial Seal.
Notary Public
My commission expires: ."
