Maryland Code, ESTATES AND TRUSTS 11-111
Terms Used In Maryland Code, ESTATES AND TRUSTS 11-111
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Conviction: A judgement of guilt against a criminal defendant.
- Fiduciary: A trustee, executor, or administrator.
- Legatee: A beneficiary of a decedent
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
(b) A person disqualified from inheriting, taking, enjoying, receiving, or otherwise benefitting from the estate, insurance proceeds, or property of the victim in accordance with subsection (a) of this section shall be treated as if the person predeceased the victim.
(c) In the event a distribution is erroneously made to a person disqualified from inheriting, taking, enjoying, receiving, or otherwise benefitting from the estate, insurance proceeds, or property of the victim in violation of subsection (a) of this section, the disqualified person shall make full restitution to the heir, legatee, or beneficiary who should have received the distribution in accordance with subsection (b) of this section.
(d) A fiduciary or other person who distributes property in good faith and without actual knowledge of a conviction under § 8-801 of the Criminal Law Article is not personally liable for the distribution.