Maryland Code, ESTATES AND TRUSTS 9-209
Terms Used In Maryland Code, ESTATES AND TRUSTS 9-209
- 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
- Decedent: A deceased person.
- Fiduciary: A trustee, executor, or administrator.
- Inter vivos: Transfer of property from one living person to another living person.
- Intestate: Dying without leaving a will.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
- Personal representative: includes an administrator and an executor. See
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
- Trustee: A person or institution holding and administering property in trust.
(b) In the case of an interest created under the law of intestate succession or an interest created by will, other than an interest in a testamentary trust:
(1) A disclaimer shall be delivered to the personal representative for the decedent‘s estate; or
(2) If there is no personal representative, it shall be filed with a court having jurisdiction to appoint the personal representative.
(c) In the case of an interest in a testamentary trust:
(1) A disclaimer shall be delivered to the trustee, or if no trustee is then serving, to the personal representative of the decedent’s estate; or
(2) If there is no personal representative, it shall be filed with a court having jurisdiction to enforce the trust.
(d) (1) In the case of an interest in an inter vivos trust, a disclaimer shall be delivered to the trustee.
(2) If there is no trustee, it shall be filed with a court having jurisdiction to enforce the trust.
(3) If the disclaimer is made before the time the instrument creating the trust becomes irrevocable, it shall be delivered to the settlor of a revocable trust or the transferor of the interest.
(e) In the case of an interest created by a beneficiary designation made before the time the designation becomes irrevocable, a disclaimer shall be delivered to the person making the beneficiary designation.
(f) In the case of an interest created by a beneficiary designation made after the time the designation becomes irrevocable, a disclaimer shall be delivered to the person obligated to distribute the interest.
(g) In the case of a disclaimer by a surviving holder of jointly held property, the disclaimer shall be delivered to the person to whom the disclaimed interest passes.
(h) In the case of a disclaimer by an object or taker in default of exercise of a power of appointment at any time after the power was created:
(1) The disclaimer shall be delivered to the holder of the power or to the fiduciary acting under the instrument that created the power; or
(2) If there is no fiduciary, it shall be filed with a court having authority to appoint the fiduciary.
(i) In the case of a disclaimer by an appointee of a nonfiduciary power of appointment:
(1) The disclaimer shall be delivered to the holder, the personal representative of the holder’s estate, or to the fiduciary under the instrument that created the power; or
(2) If there is no fiduciary, it shall be filed with a court having authority to appoint the fiduciary.
(j) In the case of a disclaimer by a fiduciary of a power over a trust or estate, the disclaimer shall be delivered as provided in subsection (b), (c), or (d) of this section as if the power disclaimed were an interest in property.
(k) In the case of a disclaimer of a power by an agent, the disclaimer shall be delivered to the principal or the principal’s representative.