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Delegating to an agent
Est. & Trusts § 14.5-807(a) provides that a trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances, even to an agent associated with the trustee, and exercises reasonable care, skill and caution in selecting the agent, establishing the scope and terms of the delegation consistent with the trust's purposes and terms, and periodically reviewing the agent's actions. The agent owes the trust reasonable care in complying with the delegation's terms and, by accepting it, submits to Maryland's courts (§ 14.5-807(b), (c)). A delegation of investment functions under Est. & Trusts § 15-114 follows that section instead (§ 14.5-807(d)).
Advisers, and their directions
Where the terms give a person other than the settlor of a revocable trust a power to direct, consent to or disapprove the trustee's investment, distribution or other decisions, that person is an adviser and a fiduciary, required to act reasonably with regard to the trust's purposes and the beneficiaries' interests, and liable for a loss from a breach (Est. & Trusts § 14.5-808(b)). The trustee may not follow a direction manifestly contrary to the terms, unless the settlor waived that in writing, or one the trustee knows would breach the adviser's duty (§ 14.5-808(b)(1)(ii)).
Where the terms require the trustee to follow the adviser's direction, the trustee is liable for a resulting loss only for its own willful misconduct and has no duty to monitor the adviser, advise it, or warn a beneficiary or third party where it would have acted differently; recording and reporting the directed actions is presumed administrative (Est. & Trusts § 14.5-808(c)). Unless the terms provide otherwise, an investment adviser may direct the retention, purchase, sale and encumbrance of the trust property, vote proxies and select investment advisers (§ 14.5-808(d)).
The settlor's direction while the trust is revocable
While a trust is revocable, the trustee may follow the settlor's written direction even if it is contrary to the terms (Est. & Trusts § 14.5-808(a)), and the trustee's duties are owed exclusively to the settlor (Est. & Trusts § 14.5-603(a)).
The trustee's own counsel
From October 1, 2026, unless the client waives it, a communication between an attorney and a client acting as a fiduciary is privileged even where fiduciary funds pay the attorney, and the fiduciary relationship with a beneficiary does not waive it (Est. & Trusts § 15-117).
Закони, дослівно
Cotrustees
Est. & Trusts § 14.5-703 ↗Зрозуміле просте пояснення; дослівний текст статуту ще не засвідчено в нашій бібліотеці. Дивіться офіційний статут за посиланням вище.
Delegation by trustee
Est. & Trusts § 14.5-807 ↗Зрозуміле просте пояснення; дослівний текст статуту ще не засвідчено в нашій бібліотеці. Дивіться офіційний статут за посиланням вище.
Powers to direct; advisers
Est. & Trusts § 14.5-808 ↗Зрозуміле просте пояснення; дослівний текст статуту ще не засвідчено в нашій бібліотеці. Дивіться офіційний статут за посиланням вище.
Attorney-client privilege of a fiduciary
Est. & Trusts § 15-117 ↗Зрозуміле просте пояснення; дослівний текст статуту ще не засвідчено в нашій бібліотеці. Дивіться офіційний статут за посиланням вище.
Поширені запитання
Can a Maryland trustee hire people to help?
Yes — a trustee may delegate what a prudent trustee of comparable skills could properly delegate, with reasonable care in selecting the agent, setting the delegation's scope and periodically reviewing the agent (Est. & Trusts § 14.5-807(a)).
Is a Maryland trustee liable for following an adviser's direction?
Where the terms require the trustee to follow it, only for the trustee's own willful misconduct (Est. & Trusts § 14.5-808(c)(1)(i)) — but the trustee may not follow a direction manifestly contrary to the terms or one it knows would be a breach (§ 14.5-808(b)(1)(ii)).
Are a Maryland trustee's talks with their lawyer private from the beneficiaries?
From October 1, 2026, the communications are privileged unless the trustee waives it, and the fiduciary relationship does not waive the privilege (Est. & Trusts § 15-117).
За темою
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