17.9.2 Termination and Modification Under the Maryland Trust Act

Under the MTA, either a trustee or a beneficiary may initiate a proceeding to terminate or modify an irrevocable trust. MTA § 14.5-409. The provisions setting out the basis for termination and/or modification are contained in MTA § 14.5-410 through § 14.5-414. Although a court proceeding will provide a more certain result, interested persons may enter into a non-judicial settlement agreement with respect to certain matters involving a trust. Generally this procedure is appropriate for routine administrative matters such as approving accounts or the appointment of a trustee. MTA § 14.5-111.