(a) A trust may be created only to the extent that the purposes of the trust are lawful, not contrary to public policy, and possible to achieve.
(b) A trust and the terms of the trust shall be for the benefit of the beneficiaries of the trust.
Structure Maryland Statutes
Title 14.5 - Maryland Trust Act
Subtitle 4 - Creation, Validity, Modification, and Termination of Trust
Section 14.5-401 - Creation of Trust
Section 14.5-402 - Requirements
Section 14.5-403 - Validity of Trust Not Created by Will
Section 14.5-404 - Purposes and Benefits
Section 14.5-405 - Void Trusts
Section 14.5-406 - Oral Trusts Established by Clear and Convincing Evidence
Section 14.5-407 - Trusts for Care of Animal
Section 14.5-408 - Noncharitable Trusts
Section 14.5-409 - Termination of Trusts; Institution of Proceedings
Section 14.5-410 - Modification or Termination of Trust
Section 14.5-412 - Termination Without Court Order -- Procedure
Section 14.5-413 - Reforming Terms of Trust
Section 14.5-414 - Modification of Terms for Purposes of Taxes