MD Update: Governor O'Malley Approves MD Trust Act and MD Estate Tax Exemption Increase
News went out earlier this week regarding Maryland’s Uniform Trust Code and Increase in Estate Tax Exemption. We previously mentioned the bill passing in both the House and Senate and would go to Governor O’Mally to be signed to law.
On May 15, 2014, Governor O’Malley signed the two bills to increase the Uniform Trust Code and the Maryland Estate Tax Exemption.
You can find the text for Maryland's Uniform Trust Code, also referred to as Maryland Trust Act on LegiScan. The text for the Maryland Estate Tax Exemption can be found on General Assembly of Maryland. This article from Venable, LLP briefly highlights the changes in the estate tax law on Lexology.