MD HB185

Expands circumstances under which an individual who creates a trust for their spouse is not considered the "settlor" for purposes of their own interest in the trust

Adds new qualifying criteria for Spousal Lifetime Access Trusts (SLATs): the trust must be created for the spouse's benefit during their lifetime, be irrevocable, and the creator can only become a beneficiary after the spouse's death through a power of appointment

Protects qualifying SLAT assets from the trust creator's creditors, who cannot attach, reach, or compel distribution of trust principal, income, or the creator's interest

Preserves existing state law regarding fraudulent transfers to trustees

Takes effect October 1, 2026