Maryland Code, ESTATES AND TRUSTS 13-806
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, ESTATES AND TRUSTS 13-806
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
No commission or compensation may be allowed a guardian of a U.S. Department of Veterans Affairs beneficiary on the money or other assets received from a prior fiduciary nor on the amount received from liquidation of loans or other investments if the money, assets, loans or investments were derived in whole or in part from benefits paid by the U.S. Department of Veterans Affairs to the guardian or the guardian’s predecessor for the beneficiary.