Maryland § 14.5-402
Full text of Maryland Maryland Code § 14.5-402, with citation guidance and answers to common questions.
§ 14.5-402.
(a) A trust is created only if:
(1) The settlor has capacity to create a trust;
(2) The settlor indicates an intention to create the trust;
(3) The trust has a definite beneficiary or is:
(i) A charitable trust;
(ii) A trust for the care of an animal, as provided in § 14.5–407 of this subtitle; or
(iii) A trust for a noncharitable purpose, as provided in § 14.5–408 of this subtitle; and
(4) The trustee has duties to perform.
(b) A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.
(c) (1) A power in a trustee or in another person under the terms of the trust to select a beneficiary from an indefinite class is valid.
(2) If the power described in paragraph (1) of this subsection is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons that would have taken the property had the power not been conferred.
Frequently Asked Questions About Maryland § 14.5-402
What does Maryland Code § 14.5-402 cover?
Section 14.5-402 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 14.5-402?
A common citation format is "Maryland Code § 14.5-402" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 14.5-402 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.