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Bill would standardize notice methods for trustees exercising decanting powers
2145525 · January 22, 2025
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Summary
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.
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…
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