Loading chat...

MD HB27

Bill

Status

Passed

4/22/2025

Primary Sponsor

Jon Cardin

Click for details

Origin

House of Delegates

2025 Regular Session

AI Summary

  • 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

  • Authorizes trustees to charge "reasonable" compensation based on circumstances when trust terms do not specify compensation, replacing the previous fixed statutory rate schedule

  • Requires courts evaluating trustee compensation reasonableness to consider factors including trust property value, administration risk, time spent, trustee skill and experience, and results obtained

  • 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

  • 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

Committee Referrals

Judicial Proceedings2/21/2025
Judiciary1/8/2025

Full Bill Text

No bill text available