Maryland Code > ESTATES AND TRUSTS > Title 15 > Subtitle 5 > Part IV > Subpart A – Receipts From Entities
Current as of: 2023 | Check for updates
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Other versions
§ 15-508 | Character of receipts |
§ 15-509 | Distribution from trust or estate |
§ 15-510 | Separate accounting methods in business and other activities conducted by trustee |
Terms Used In Maryland Code > ESTATES AND TRUSTS > Title 15 > Subtitle 5 > Part IV > Subpart A - Receipts From Entities
- 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
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: means a county of the State or Baltimore City. See
- Decedent: A deceased person.
- Donor: The person who makes a gift.
- including: means includes or including by way of illustration and not by way of limitation. See
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
- Trustee: A person or institution holding and administering property in trust.