WILLIAM DONALD SCHAEFER, Governor

Ch. 418

(P) "TRUST PROPERTY" MEANS ANY PROPERTY, INCOME, OR PROCEEDS
RESULTING FROM THE INVESTMENT OF PROPERTY HELD IN TRUST UNDER THIS
SUBTITLE.

14-402.

(A)     (1) THE TRUSTEE HOLDS TITLE TO THE TRUST PROPERTY.

(2)      TRUST PROPERTY MAY NOT BE CONSIDERED PROPERTY OR AN
AVAILABLE RESOURCE OF THE BENEFICIARY.

(3)      THE BENEFICIARY MAY NOT HAVE ANY INTEREST IN TRUST
PROPERTY THAT CAN BE ASSIGNED OR ATTACHED.

(4)      NO PART OF THE TRUST PROPERTY MAY BE SUBJECT TO CLAIMS
FOR COSTS OF CARE PROVIDED TO THE BENEFICIARY BY A STATE.

(B)      (1) THE TRUSTEE HAS SOLE DISCRETION OVER TRUST PROPERTY
EXPENDITURES.

(2)      THE TRUSTEE SHALL DECIDE WHAT EXPENDITURES WILL BE MADE,
HOW THEY WILL BE MADE, AND WHEN THEY WILL BE MADE FOR THE BENEFIT OF
THE BENEFICIARY.

(3)      A TRUST MAY BE USED TO ASSURE THAT TRUST PROPERTY IS
AVAILABLE TO PROVIDE FOR THE NEEDS OF THE BENEFICIARY TO THE EXTENT
NOT PROVIDED FOR BY OTHER SOURCES, INCLUDING PUBLIC AND PRIVATE
BENEFIT PROGRAMS FOR WHICH THE BENEFICIARY WOULD OR MIGHT BE ELIGIBLE
IF THE TRUST DID NOT EXIST.

(4)      A TRUSTEE MAY RETAIN ANY TRUST PROPERTY RECEIVED FROM A
TRANSFEROR.

(C)     A PERSON DEALING WITH A TRANSFEROR, DECLARANT, OR TRUSTEE IS
PROTECTED IN THOSE DEALINGS IN ACCORDANCE WITH § 14-405 OF THIS SUBTITLE.

(D)     ANY PERSON EXCEPT THE BENEFICIARY MAY AUGMENT TRUST
PROPERTY.

(E)      (1) WHEN ESTABLISHING A TRUST, THE TRANSFEROR MAY DESIGNATE
THE TRUST TO BE EITHER REVOCABLE OR IRREVOCABLE.

(2) IF NO DESIGNATION IS MADE, THE TRUST IS REVOCABLE.

14-403.

(A)     ANY PERSON HAVING THE RIGHT TO TRANSFER PROPERTY TO ANOTHER
PERSON MAY CREATE A TRUST AS A TRANSFEROR UNDER THIS SUBTITLE.

(B)     THE TRANSFEROR MAY:

(1)      AS DECLARANT SERVE AS TRUSTEE;

(2)      DESIGNATE A TRUSTEE;

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