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MD HB27
Bill
Status
4/22/2025
Primary Sponsor
Jon Cardin
Click for details
AI Summary
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Establishes specific commission rates for guardians of property, including 6% on real estate/mortgage income, tiered rates of 6.5% to 3% on other income, and corpus commissions of 0.4% to 0.1% based on estate value tiers
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Authorizes trustees to charge "reasonable" compensation based on circumstances when trust terms do not specify compensation, replacing the previous fixed statutory rate schedule
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Requires courts evaluating trustee compensation reasonableness to consider factors including trust property value, administration risk, time spent, trustee skill and experience, and results obtained
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Allows financial institutions under state/federal supervision and Maryland Bar members to charge compensation calculated according to a filed schedule of rates, with required notice to qualified beneficiaries
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Limits guardians of disabled persons receiving long-term care under Maryland Medical Assistance to $50 per month compensation unless the court finds unusual circumstances exist
Legislative Description
Estates and Trusts - Compensation of Guardians of Property and Trustees
Fees
Last Action
Approved by the Governor - Chapter 224
4/22/2025