How do you create a trust in Maryland?

There are several types of trusts you can create in Maryland, including inter vivos trusts such as revocable and irrevocable trusts, each of which can have specific goals like special needs for disabled beneficiaries, generation skipping trusts, marital trusts, or qualified terminable interest property trust (QTIP trusts). Trusts in Maryland are governed by the Maryland Trust Act which is codified in the Estates and Trusts Article of the Maryland Annotated Code. Trusts can also be created in a will as well, in which case they are called testamentary trusts. Different types of trusts have different tax obligations. Reach out to Saltzman Law if you have questions about what type of trust might be best for you.