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ARTICLE · 25 JUNE 2014

Maryland Enacts New And Modified Trust Code

McGuireWoods LLP
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Recently, Maryland joined more than 25 other states and the District of Columbia in enacting its version of the Uniform Trust Code.

United StatesCorporate/Commercial Law
Sean Murphy
Sean Murphy
Meghan Gehr
Meghan Gehr
J'Lene Mortimer
J'Lene Mortimer
Michael Barker
Michael Barker

Introduction

Recently, Maryland joined more than 25 other states and the District of Columbia in enacting its version of the Uniform Trust Code (UTC). The Maryland Trust Act (MTA) takes effect on January 1, 2015, and will apply to all trusts created before, on or after January 1, 2015, and to all judicial proceedings concerning trusts commenced on or after January 1, 2015. The MTA more comprehensively codifies Maryland's existing trust law, and also includes modifications and additions to existing law. This summary highlights the MTA's key new additions, modifications to existing Maryland law and departures from the UTC.

General Provisions

The MTA incorporates several of the general provisions from the UTC, including:

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