Maryland Code > ESTATES AND TRUSTS > Title 15 > Subtitle 5 > Part II – Decedent’s Estate or Terminating Income Interest
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Other versions
§ 15-503 | Determination and distribution of net income |
§ 15-504 | Distribution to residuary and remainder beneficiaries |
Terms Used In Maryland Code > ESTATES AND TRUSTS > Title 15 > Subtitle 5 > Part II - Decedent's Estate or Terminating Income Interest
- 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
- Conviction: A judgement of guilt against a criminal defendant.
- Decedent: A deceased person.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Fiduciary: A trustee, executor, or administrator.
- including: means includes or including by way of illustration and not by way of limitation. See
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.