§ 14-623
191 words·~1 min read·
/md/estates-and-trusts/14-623A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§14–623.
(a)Except as provided in subsection
(c)of this section, if an exercise of the decanting power was intended to distribute all the principal of the first trust to one or more second trusts, later–discovered property belonging to the first trust and property paid to or acquired by the first trust after the exercise of the decanting power is part of the trust estate of the second trust or trusts.
(b)Except as provided in subsection
(c)of this section, if an exercise of the decanting power was intended to distribute less than all of the principal of the first trust to one or more second trusts, later–discovered property belonging to the first trust or property paid to or acquired by the first trust after the exercise of the decanting power remains part of the trust estate of the first trust.
(c)An authorized fiduciary may provide in an exercise of the decanting power or the terms of a second trust instrument for the disposition of later–discovered property belonging to the first trust or property paid to or acquired by the first trust after the exercise of the decanting power.