Maryland Code, ESTATES AND TRUSTS 9-109
Terms Used In Maryland Code, ESTATES AND TRUSTS 9-109
- Adult: means an individual at least 18 years old. See
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- including: means includes or including by way of illustration and not by way of limitation. See
- minor: means an individual under the age of 18 years. See
- 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 property: All property that is not real property.
- Personal representative: includes an administrator and an executor. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(2) The banking institution or association shall be named in the order.
(3) The personal representative shall deliver the account book to the person or to such person, including the register, as the personal representative with the approval of the court, considers responsible and appropriate.
(4) When the minor reaches the age of 18 or a guardian is appointed, the funds deposited and the account book shall be delivered to the minor, or to the guardian.
(b) (1) In addition to the procedures in subsection (a) of this section, whenever a personal representative is required to distribute property to a minor as defined in § 13-301(k) of this article, the personal representative, with the approval of the court, may transfer the property to a custodian who shall hold or dispose of the property in accordance with the provisions of the Maryland Uniform Transfers to Minors Act.
(2) The personal representative shall, subject to the approval of the court, designate the custodian, who shall be an adult or a trust company.
(c) Whenever a personal representative is required to distribute tangible personal property to a person under the age of 18 years and there is no guardian of the minor, the personal representative may distribute it to the person whom the personal representative, with the approval of the court, considers responsible and appropriate, and under the conditions set forth in the order of the court.
(d) If a guardian has been appointed for a minor, payment may be made to the guardian on the filing of a copy of the guardian’s authority authenticated pursuant to 28 U.S.C. § 1738.
(e) In addition to the procedures set forth in this section, the personal representative may make distribution to a minor in accordance with the provisions of § 13-501 of this article or the will.