Your Trusted Estate Administration Attorney In Montgomery County, MD

Probate is the term used to describe the legal process of estate settlement and administration. This generally involves validating wills, settling outstanding debts, appointing executors, and distributing remaining assets to beneficiaries. However, not all estates are subject to probate proceedings. Some exceptions may include:

• Low-Value Estates: Simplified probate processes may be applicable for estates that are determined low in value. For estates with a value lower than $50,000, Maryland law provides for small estate administration, which is comparably a quicker, less costly process.
• Exempt Assets: Some assets, known as non-probate assets, are typically inherited directly by named beneficiaries and do not require probate. These assets can include retirement accounts, property deeds, and life insurance policies.

• Living trusts: When revocable living trusts are opened for descendants, these assets are not included in estate settlement and can bypass probate entirely.

Probate cases can vary greatly in length, expense, and complexity, so it is important to prepare and understand the process for when the time comes. Generally, probate can range from 6-12 months if the estate planned properly and beneficiaries are clearly defined.

How Do I Administer An Estate?

When a loved one passes, there are several steps you need to take to begin administering their estate. When settling an estate in Montgomery County, MD, a number of important documents are required to successfully begin probate. In order to get started you will need to:

• Gather Important Documents: You will need an official copy of the deceased party’s death certificate in order to validate their passing with courts and financial institutions. If there is a will, this document will also need to be filed with the probate court. Estates with no will, known as intestate, must petition for administration.
• File A Probate Petition: Your petition for probate requests that the court appoint you as the executor of the estate. This petition will be filed with the Orphans’ Court including any information on your qualifications to represent the estate.
• Settle Outstanding Debts: When people pass away, their debts and taxes remain. As a part of the probate process, you will need to identify and file any tax returns, pay any remaining expenses, and address any claims from creditors.
• Manage Assets: After handling any debts, taxes, and expenses, the executor is then responsible for the management and distribution of assets as stipulated in the will. If no will exists, assets will be distributed in accordance with Maryland's intestacy laws.
• Close The Estate: After a successful administration, the estate will need to be closed. This will require a final accounting record of all financial transactions to be filed with the court. Once these documents are approved, the estate will be closed.

Given the complex and intricate nature of probate, it can be difficult and confusing to handle the process alone. Partnering with an estate administration attorney in Montgomery County, MD will ensure that you thoroughly understand how to tie up all loose ends and create a comprehensive plan to settle your loved one’s estate.

With a robust history of representing clients with friendliness and personalized service, Greenberg Legal Group LLC is an esteemed estate administration law firm that is primed to assist you during your probate process. Robert Greenberg has served countless clients in Montgomery County, MD with compassion and attention to detail. When you partner with us, you can be sure you are working with advocates who have your best interest at heart.

Greenberg Legal Group Will Guide You In Estate Administration Law In Montgomery County, MD

Don’t allow yourself to struggle with estate administration, contact us today for personalized, professional legal counsel.

Do you need an estate planning lawyer in Montgomery County, MD? The professionally focused team of legal representatives at Greenberg Legal Group LLC is ready and waiting to provide the support you need in administering the estate of a deceased loved one.

Prioritize your peace of mind by placing your probate into the hands of professionals. Greenberg Legal Group LLC will work tirelessly to streamline the process and minimize your headaches so you can focus on what matters most. Call us today to schedule a consultation at (410) 650-4242.