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Records · 6 мин чтения
Adequate records, and separate property
Est. & Trusts § 14.5-810 provides that a trustee keeps adequate records of the administration; keeps the trust property separate from the trustee's own; causes the trust property to be designated, where feasible, so that the trust's interest appears in records kept by someone other than a trustee or beneficiary; and may invest the property of separate trusts together only while the records clearly show each trust's interest.
What a report contains
A report on a qualified beneficiary's request covers the trust property, liabilities, receipts and disbursements, the source and amount of the trustee's compensation, a listing of the trust assets and, if feasible, their market values (Est. & Trusts § 14.5-813(c)(1)). A ledger that records each receipt and payment with its date, amount, counterparty and document supplies each element.
The one-year rule
A beneficiary may not sue for breach of trust more than one year after being sent a report that adequately discloses the existence of a potential claim and informs of the time allowed (Est. & Trusts § 14.5-904(a)); a report does so where it gives enough information that the beneficiary knows of the claim or should have inquired (§ 14.5-904(b)). Whether a report should be drafted to start that year is a question for a licensed Maryland attorney of your choosing; TrusteeClear's report never says a period started.
Reimbursement, and the release report
Expenses properly incurred are reimbursed from the trust with interest as appropriate (Est. & Trusts § 14.5-709) — each one supported by its receipt. On a termination, resignation or removal, the optional release procedure asks for an accounting, such as account statements, for the immediately preceding five years, an estimate of property not yet received or disbursed and the fees still owed (Est. & Trusts § 14.5-907(c)(2)) — records kept from the first day make it possible.
Законы, дословно
Recordkeeping and identification of trust property
Est. & Trusts § 14.5-810 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Duty to inform and report
Est. & Trusts § 14.5-813 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Limitation of action against trustee
Est. & Trusts § 14.5-904 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Beneficiary's consent, release or ratification; release procedure
Est. & Trusts § 14.5-907 ↗Понятное простое объяснение; дословный текст статута ещё не заверен в нашей библиотеке. Смотрите официальный статут по ссылке выше.
Частые вопросы
What records does a Maryland trustee have to keep?
Adequate records of the administration, with the trust's property kept separate and, where feasible, titled to show the trust's interest (Est. & Trusts § 14.5-810).
Can a Maryland trustee keep trust money in a personal account?
No — the trustee keeps the trust property separate from the trustee's own (Est. & Trusts § 14.5-810(b)).
How far back does a Maryland release report go?
Five years: the report gives an accounting of the trust, such as account statements, for the immediately preceding five years (Est. & Trusts § 14.5-907(c)(2)(ii)).
По теме
Учебный центр — это общая информация о законах Мэриленда, а не юридическая консультация и не замена совету лицензированного юриста Мэриленда по вашим конкретным фактам. TrusteeClear — это программа, а не юридическая фирма.