Getting Through Probate Painlessly

No one wants a messy probate case, but chances are that you will not have to deal with one. Almost anyone who is wealthy enough that their estate would have to pay taxes can afford to appoint a lawyer as personal representative of their estate; you don’t stay wealthy until you die unless you have some sense of how to manage your finances and whom to trust to help you manage them. Likewise, if your familial relationships are such a trainwreck that your relatives are likely to fight over your estate after you die, then this is obvious to you even when you are alive, so you can build safeguards into your estate plan to stop the feuding from using up all the value of the estate. In other words, if you are the personal representative of a family member’s estate, then it will probably be a routine probate case, but routine probate cases are not exactly a walk in the park. They take months to settle, and they cost enough that the heirs might be disappointed at how little they inherit. The good news is that Maryland offers several probate shortcuts for small estates. For advice on how to pull off a small probate case or for legal counsel to represent you in a medium-sized one, contact a Washington, D.C. probate lawyer.

Does Maryland Have Muniment of Title?

In some states, you can get the court’s permission to transfer the decedent’s property outside of court. This is called independent administration, and you can do it by asking the court to issue a muniment of title order, which declares that the decedent’s property legally belongs to the estate and the personal representative of the estate is free to distribute it pursuant to the decedent’s will. Unfortunately, this option is not available in Maryland.

The Decedent’s Estate Might Be Smaller Than You Think

An option available in Maryland is simplified probate for small estates. You qualify for simplified probate if the value of the decedent’s estate is less than $50,000. If the only beneficiary of the decedent’s will is the decedent’s spouse, then the estate is eligible for simplified probate if its value is up to $100,000. Remember that the value of the estate does not include exempt assets like a house owned jointly with the decedent’s spouse, transfer on death bank accounts, and life insurance policies.

What If the Decedent’s Only Valuable Asset Was a Vehicle?

There is an even simpler option if the decedent’s only possessions were one or two vehicles and modestly valued personal property. In this case, the estate does not have to go through probate at all. The decedent’s spouse can go to the Motor Vehicle Association and transfer the title to the cars.

Contact Tobin O’Connor Concino P.C. About Keeping Your Probate Case Simple

A Washington, D.C. probate attorney can help you find the simplest possible way to settle your deceased relative’s estate.  Contact Tobin O’Connor Concino P.C. in Washington, D.C. or call 202-362-5900.

Source:

nolo.com/legal-encyclopedia/maryland-probate-shortcuts-31743.html