Disclaimer
This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation.
Detailed Answer
When an individual passes away in Maryland, the probate process governs how the estate’s assets get inventoried and distributed among heirs. The personal representative plays a central role from collecting assets to final distribution. Below is a step-by-step guide under Maryland law.
1. Appointing a Personal Representative
The probate court names a personal representative (PR), also known as an executor. If the decedent named an executor in a will, the court typically confirms that choice. If no valid will exists or the named executor cannot serve, the court appoints an administrator based on statutory priority.
2. Securing and Identifying Assets
The PR locates, secures, and safeguards all assets. This includes real estate, bank accounts, investments, personal property and digital assets. The PR may change locks and notify financial institutions of the decedent’s death to prevent unauthorized access.
3. Preparing and Filing the Inventory
Within three months of appointment, the PR must file an inventory listing all estate assets with the Register of Wills. See Md. Code, Est. & Trusts § 7-203 (Inventory; filing; deadlines) [§ 7-203]. The inventory should include each asset’s description, location, and fair market value as of the date of death.
4. Valuing Assets and Obtaining Appraisals
If asset values are unclear, the PR should obtain professional appraisals. Accurate valuations ensure fair distribution among heirs and help satisfy creditor claims.
5. Notifying Creditors and Paying Debts
The PR publishes a notice to creditors once in a local newspaper. See Md. Code, Est. & Trusts § 7-201(b) [§ 7-201]. Creditors then have a defined period to file claims. The PR reviews claims, pays valid debts and expenses, and resolves any disputes before moving forward with distribution.
6. Petitioning for Distribution
After debts, taxes and administrative expenses clear, the PR files a petition for distribution. The court reviews the estate account and proposed allocations consistent with the will or Maryland’s intestacy rules. See Md. Code, Est. & Trusts § 7-302 (Mode of distribution) [§ 7-302].
7. Final Accounting and Closing the Estate
The PR submits a final account summarizing all receipts, disbursements and distributions. See Md. Code, Est. & Trusts § 7-102 (Accounting and discharge) [§ 7-102]. Once the court approves, the estate closes and the PR is discharged from further duties.
Helpful Hints
- Keep detailed records of every transaction and communication.
- Provide heirs with regular updates to minimize conflicts.
- Use certified appraisers for complex or high-value items.
- Consult tax advisors to address estate, inheritance or gift tax requirements.
- Consider mediation if heirs disagree on distributions.