Section 14-407 - Forms.
§ 14-407. Forms.
(a) Transfers.- The following form may be used to create a trust by transfer:
"Transfer Under the Maryland Discretionary Trust Act
A. 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.
B. 1. The trustee shall be ____________________________________________.
(name one or more)
2. 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):
i. ________________________________________________________________________
ii. _______________________________________________________________________
iii. ____________________________________________________________________.
C. The beneficiary shall be ______________________________________________
(name one only)
D. The trust property shall be:
1. _______________________________________________________________________
___________________________________________________________________________
2. _______________________________________________________________________
___________________________________________________________________________
E. The trust shall terminate upon the first to occur of (check those applicable):
1. ____________ the death of the beneficiary
2. ____________ the following date: ______________________________________
3. ____________ the following event: _____________________________________
________________________________________________________________________.
F. Upon termination, the remaining trust property shall be distributed
to ______________________________________________________________________.
(name person or persons)
G. Revocability (check one):
1. ____________ The transferor may revoke this trust.
2. ____________ The transferor may not revoke this trust.
Signature of transferor ______________________________________________________
Date of execution ____________________________________________________________
Signature of witness _________________________________________________________
Date: ______________________________________________________________________
Name of attorney preparing this statement of transfer:
____________________________________________________________________________
State of Maryland, ____________________________ : ss
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.
Witness my hand and Notarial Seal.
________________________________________________________________
Notary Public
My commission expires: __________________."
(b) Declarations.- The following form may be used to create a trust by declaration:
"Declaration of Trust Under the Maryland Discretionary Trust Act
A. 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.
B. 1. At any time when I am unable to serve as trustee, the trustee shall be: ____________________________
(name one or more)
2. 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):
i. ________________________________________________________________________
ii. _______________________________________________________________________
iii. ____________________________________________________________________.
C. The beneficiary shall be __________________________________________.
D. The trust property shall be:
1. _______________________________________________________________________
___________________________________________________________________________
2. _______________________________________________________________________
________________________________________________________________________ .
E. The trust shall terminate upon the first to occur of (check those applicable):
1. ____ The death of the beneficiary
2. ____ The following date: ______________________________________________
3. ____ The following event: _____________________________________________
________________________________________________________________________.
F. Upon termination, the remaining trust property shall be distributed to
__________________________________________________________________________.
(name person or persons)
G. Revocability (check one):
1. ________ The declarant may revoke this trust.
2. ________ The declarant may not revoke this trust.
Signature of declarant _______________________________________________________
Date of execution ____________________________________________________________
Signature of witness _________________________________________________________
Date _________________________________________________________________________
Name of attorney preparing this declaration:
______________________________________________________________________
State of Maryland, ________________________ : ss
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.
Witness my hand and Notarial Seal.
________________________________________________________________
Notary Public
My commission expires: __________________".
[1994, ch. 418; 1995, ch. 3, § 1.]