# Estates and Trusts (GET) ## Title 13. Protection of Minors, Disabled Persons, Susceptible Adults, and Older Adults ### Subtitle 5 #### Section 13-501 (a) (1) Any person, including but not limited to a personal representative or trustee, who is under a duty to pay or deliver money or tangible personal property to a minor may perform the duty by paying or delivering the money or chattel to the guardian of the minor. (2) If there is no guardian, or if the guardian is unknown, payment or delivery in amounts or values not exceeding $5,000 per annum may be made to the parent or grandparent of the minor with whom the minor resides. (3) If there is no guardian, parent, or grandparent with whom the minor resides, payment or delivery in amounts or values not exceeding $5,000 per annum may be made to a parent or other person standing in loco parentis with the minor, or deposited in a financial institution described in Sec. 13-301(h) of this title. (4) The payor is not under a duty to inquire whether the minor has a guardian. (b) (1) A deposit in a financial institution shall be in the sole name of the minor. (2) The minor may not withdraw any funds: (i) Without an order of court; or (ii) Until the minor attains majority. (c) (1) Other than the minor or a financial institution, a person receiving money or property for a minor shall apply the money to the support and education of the minor. (2) A person receiving money or property for a minor may not pay himself or herself except for reimbursement for out-of-pocket expenses for goods and services furnished by others which are necessary for the support of the minor. (3) Any excess sums shall be preserved for future support of the minor, and any balance not so used and any tangible chattels received for the minor shall be turned over to the minor when the minor attains majority. (d) (1) If a person owes money or property to a minor and pays or delivers it in accordance with this section, the person is not responsible for the proper application of the money or property. (2) A release for any distribution signed by the distributee is a valid release. #### Section 13-502 (a) If money is distributable from a trust or estate or from any other source to a minor and there is no legally appointed guardian of the property of the minor, the circuit court of the county in which the minor resides or the court in which the estate is being administered may order that the money be deposited in any financial institution described in Sec. 13-301(h) of this title to be named in the order so that it draws interest in the name of the minor. (b) The funds so deposited remain subject to the order of the court. The trustee or any person having custody of the minor shall retain the book of deposit or receipt for the deposit until the minor reaches the age of majority, or a guardian is appointed, and the order and deposit made pursuant to it constitute a release to the trustee or personal representative. #### Section 13-503 (a) (1) A minor who holds title to property as a tenant by the entirety with a spouse who has reached the age of majority is authorized to join with the spouse in any deed as defined in Sec. 1-101 of the Real Property Article, note, or financing statement in the same manner and effect as an adult. (2) This subsection does not affect any right granted in subsection (b) of this section. (b) A war veteran or member of the armed services, who is a minor, eligible for the benefits of the Servicemen's Readjustment Act of 1944, and amendments to it, for the purpose of obtaining the benefits of the Act, may: (1) Mortgage real estate the eligible minor owns; (2) Buy real estate and execute a mortgage to cover the purchase money; (3) Execute a deed for the sale of real estate purchased, or execute notes; (4) Make other agreements and do other things as necessary to obtain the benefits of the Act, and amendments to it; and (5) Execute releases of claims in the same manner and effect as an adult. (c) (1) A minor who is at least 15 years old: (i) May contract for annuities and for life or health insurance on the minor's own life or body, or on the person of another in whom the minor has an insurable interest; (ii) May exercise all rights and powers with respect to or under the contract for the annuity or for insurance on the minor's own life or body, or any contract the minor effected on the person of another issued to the minor as described as though of full legal age of 18 years; (iii) May surrender any interest in the contract and give a valid discharge for any benefit accruing or money payable under it; (iv) Is not entitled to rescind, avoid, or repudiate the contract, or any exercise of a right or privilege because of minority; and (v) Is not bound by any unperformed agreement to pay, by promissory note or otherwise, any premium on any insurance contract. (2) If an estate of a minor is being administered by a guardian, no contract is binding on the estate as to payment of premiums, unless consented to by the guardian. (3) Any annuity contract or policy of life or health insurance shall be made payable either to the minor or to the minor's estate or to a person having an insurable interest in the life of the minor. (4) The provisions of this subsection also apply with respect to property, casualty, and surety insurance contracted for by a minor who is at least 15 years old on the minor's own property, liabilities, or other interests. (d) The absence of specific mention in this subtitle of any power or right granted by law to a minor who is at least 15 years old before the enactment of this subtitle is not intended to affect the existence of the power or right. #### Section 13-504 The receipt or acquittance of any minor who is the sole owner of or is a party to any account with the right to withdraw funds in a financial institution, as defined in Sec. 13-301(h) of this title is a valid and sufficient release and discharge of the institution for any payment to the minor on any such account. --- Md. Code Ann., Est. & Trusts (as displayed at mgaleg.maryland.gov, October 16, 2026)