Maryland Statutes
Subtitle 4 - Creation, Validity, Modification, and Termination of Trust
Section 14.5-402 - Requirements

(a)    A trust is created only if:
        (1)    The settlor has capacity to create a trust;
        (2)    The settlor indicates an intention to create the trust;
        (3)    The trust has a definite beneficiary or is:
            (i)    A charitable trust;
            (ii)    A trust for the care of an animal, as provided in § 14.5–407 of this subtitle; or
            (iii)    A trust for a noncharitable purpose, as provided in § 14.5–408 of this subtitle; and
        (4)    The trustee has duties to perform.
    (b)    A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.
    (c)    (1)    A power in a trustee or in another person under the terms of the trust to select a beneficiary from an indefinite class is valid.
        (2)    If the power described in paragraph (1) of this subsection is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons that would have taken the property had the power not been conferred.