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Session Laws, 1969
Volume 692, Page 30   View pdf image
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30                                     LAWS OF MARYLAND                             [CH. 3

his death, or an indefinite failure of his issue, shall be construed
to mean a want or a failure of issue in the lifetime, or at the time of
the death of such person, and not an indefinite failure of his issue,
unless a contrary intent is expressly indicated in the will.

4-411. Legacy to inter vivos trust.

(a)    A legacy may be made in form or substance to the trustee
under, or in accordance with the terms of, a written inter vivos
trust (including an unfunded life insurance trust although the
settlor has reserved any or all rights of ownership in the insurance
contracts) which has been executed and is in existence prior to or
contemporaneously with the execution of such will and is identified
in such will, without regard to the size or character of the corpus
of such trust or whether the settlor is the testator or a third person.

(b)    Such legacy shall not be invalid because the trust is subject
to amendment or modification or may be terminated or revoked after
the will is executed (whether by the settlor or any other person or
persons), nor because the trust instrument or any amendment thereto
was not executed in the manner required by this article for wills.

(c)    Unless the will otherwise provides:

(i) Such legacy shall not be invalid because the trust was
amended or modified, after the will was executed; and such legacy
shall be given effect in accordance with the terms of the trust as they
appear in writing on the date of death of the testator, including any
such amendment or modification;

(ii) Property passing under such legacy shall be deemed to pass
directly from the personal representative to the trustee of the inter
vivos trust, shall become a part of the assets of such trust, and shall
not be deemed held tinder a separate testamentary trust;

(iii) An entire revocation of the trust prior to the death of the
testator shall make the legacy inoperative within the meaning of
4-404, even though such revocation was not effected in the manner
provided by this Article for the revocation of wills;

(iv) Subject to paragraph (iii) of this subsection (c), a ter-
mination of the trust in accordance with the terms of said trust
or by its exhaustion or by operation of law or otherwise, shall not
invalidate the legacy.

(d)    The provisions of this Section shall apply to any legacy made
by a testator living on June 1, 1959, or born subsequent thereto
without regard to the date of the execution of the will, the trust
instrument, or any amendment thereto. This Section shall not be con-
strued as casting any doubt upon the validity as heretofore existing
of (i) any legacy made by a testator who shall have died prior to
June 1, 1959, or (ii) any legacy which does not come within the
provisions of this Section.

4-412. Legacy to testamentary trust.

(a) A legacy may be made in form or substance to the trustee
under, or in accordance with the terms of, a testamentary trust
established under another will. Such legacy shall not be invalid
because the testamentary trust or the will establishing such trust


 

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Session Laws, 1969
Volume 692, Page 30   View pdf image
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