Probate in Maryland – Small Estates Versus Regular Estates

Probate is the process by which a deceased person’s financial affairs are concluded and their assets are transferred to their legatees (if through a will) or heirs (if without a will).  Because many people pass away with minimal probate assets, the State of Maryland provides a less burdensome process by which assets can be transferred for such estates. When the value of a decedent’s property subject to Maryland probate is less than $50,000 (or less than $100,000 when a surviving spouse will be the sole legatee or heir), the estate under is allowed to be considered a “small estate” and use a simplified set of probate rules.   Of note, in Maryland if you pass away without a will designating that all assets go to your spouse, then the only way your spouse will inherit your entire estate is if you have no living children and your parents predeceased you. Click here for more information about the consequences of dying without a will in…

Read more detail on Recent Estate Planning posts –

This entry was posted in Estate Planning and tagged , , , , , . Bookmark the permalink.

Leave a Reply