Bill would standardize notice methods for trustees exercising decanting powers
HB 88 would add a uniform method for providing notice when a trustee elects to decant an existing trust into a new trust; sponsor said the change clarifies an existing gap in the Maryland Decanting Act.
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Delegate Carden told the Judiciary Committee that House Bill 88 would clarify how trustees must give notice to qualified beneficiaries and interested parties before exercising a decanting power — the process by which a trustee transfers assets from an existing trust into another trust with similar beneficiaries but different terms.
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