<?xml version='1.0' encoding='utf-8'?>
<section article="get" article_name="Estates and Trusts" number="14-407" title_number="14" title_name="Trusts" subtitle_number="4" subtitle_name="Maryland Discretionary Trust Act">
  <level label="a">
    <text>The following form may be used to create a trust by transfer:</text>
    <text>“Transfer Under the Maryland Discretionary Trust Act</text>
  </level>
  <level label="A">
    <text>.    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.</text>
  </level>
  <level label="B">
    <level label="1">
      <text>The�trustee�shall�be�________________________________________</text>
      <text>(name one or more).</text>
    </level>
    <level label="2">
      <text>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):</text>
      <level label="i">
        <text>________________________________________________________</text>
      </level>
      <level label="ii">
        <text>________________________________________________________</text>
      </level>
      <level label="iii">
        <text>________________________________________________________</text>
      </level>
    </level>
  </level>
  <level label="C">
    <text>The beneficiary shall be ______________________________________________</text>
    <text>(name one only)</text>
  </level>
  <level label="D">
    <text>The trust property shall be:</text>
    <level label="1">
      <text>______________________________________________________________</text>
    </level>
    <level label="2">
      <text>______________________________________________________________</text>
    </level>
  </level>
  <level label="E">
    <text>The trust shall terminate upon the first to occur of (check those applicable):</text>
    <level label="1">
      <text>________ the death of the beneficiary</text>
    </level>
    <level label="2">
      <text>________ the following date: _____________________________________</text>
    </level>
    <level label="3">
      <text>________ the following event: ____________________________________</text>
    </level>
  </level>
  <level label="F">
    <text>Upon termination, the remaining trust property shall be distributed to </text>
    <text>___________________________________________________________________</text>
    <text>(name person or persons)</text>
  </level>
  <level label="G">
    <text>Revocability (check one):</text>
    <level label="1">
      <text>________ The transferor may revoke this trust. </text>
    </level>
    <level label="2">
      <text>________ The transferor may not revoke this trust. </text>
      <text>Signature of transferor __________________________________________________</text>
      <text>Date of execution _______________________________________________________</text>
      <text>Signature of witness ____________________________________________________</text>
      <text>Date: ____________________________________________________________</text>
      <text>Name of attorney preparing this statement of transfer:</text>
      <text>__________________________________________________________________</text>
      <text>State of Maryland, __________________________ : ss</text>
      <text>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.</text>
      <text>Witness my hand and Notarial Seal.</text>
      <text>_________________________________</text>
      <text>Notary Public</text>
      <text>My commission expires: _______________.”</text>
    </level>
  </level>
  <level label="b">
    <text>The following form may be used to create a trust by declaration:</text>
    <text>“Declaration of Trust Under the Maryland Discretionary Trust Act</text>
  </level>
  <level label="A">
    <text>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.</text>
  </level>
  <level label="B">
    <level label="1">
      <text>At any time when I am unable to serve as trustee, the trustee shall be:</text>
      <text>_____________________________________________________________________________</text>
      <text>(name one or more)</text>
    </level>
    <level label="2">
      <text>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):</text>
      <level label="i">
        <text>_________________________________________________________</text>
      </level>
      <level label="ii">
        <text>________________________________________________________</text>
      </level>
      <level label="iii">
        <text>_______________________________________________________</text>
      </level>
    </level>
  </level>
  <level label="C">
    <text>The beneficiary shall be _____________________________________________</text>
  </level>
  <level label="D">
    <text>The trust property shall be:</text>
    <level label="1">
      <text>______________________________________________________________</text>
    </level>
    <level label="2">
      <text>______________________________________________________________</text>
    </level>
  </level>
  <level label="E">
    <text>The trust shall terminate upon the first to occur of (check those applicable):</text>
    <level label="1">
      <text>________ The death of the beneficiary</text>
    </level>
    <level label="2">
      <text>________ The following date: ____________________________________</text>
    </level>
    <level label="3">
      <text>________ The following event: ___________________________________</text>
      <text>__________________________________________________________________</text>
    </level>
  </level>
  <level label="F">
    <text>Upon termination, the remaining trust property shall be distributed to</text>
    <text>________________________________________________________________________</text>
    <text>(name person or persons)</text>
  </level>
  <level label="G">
    <text>Revocability (check one): </text>
    <level label="1">
      <text>_______ The declarant may revoke this trust</text>
    </level>
    <level label="2">
      <text>_______ The declarant may not revoke this trust</text>
      <text>Signature of declarant ________________________________________________</text>
      <text>Date of execution _____________________________________________________</text>
      <text>Signature of witness __________________________________________________</text>
      <text>Date _________________________________________________________________</text>
      <text>Name of attorney preparing this declaration:</text>
      <text>__________________________________________________________</text>
      <text>State of Maryland, __________________________ : ss</text>
      <text>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.</text>
      <text>Witness my hand and Notarial Seal.</text>
      <text>_________________________________</text>
      <text>Notary Public</text>
      <text>My commission expires: ____________.”</text>
    </level>
  </level>
</section>
