Going through probate court can be a daunting process. This video by attorney Frank Gray, explains how the probate process in Maryland has three simple phases and more all in about 7 minutes. Download our free Probate Guide: https://chesapeakewillsandtrusts.com/...

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Maryland Probate Fee Chart: https://registers.maryland.gov/main/f...

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FROM THE VIDEO: The Three Phases of Maryland Probate

The following only applies to the state of Maryland. Every state law is different.

Maryland probate has three simple phases:

Opening the estate
The administrative phase
The distributions phase

Opening the Estate

Paperwork is filed in order to open the estate. A personal representative will be established either through a will or by preference of the law.

Preference of the law sets who the personal representatives can be when a will does not. It generally gives preferences to a spouse or children. After establishing who the personal representative is going to be, the probate court will then give the personal representative letters of administration.

Letters of administration are the court orders that allow a person settle the estate of whom they are representing.

The Administrative Phase

The personal representative will then begin identifying and valuing assets. The letters of administration will allow for transitioning bank accounts into an estate account.

In other words, bank accounts in the name of the estate of the decedent are unlocked. That's important because money is needed in order to continue to preserve the asset plus making payments such as insurance and mortgage.

In the administrative phase, creditors are also notified. This happens either through a general notice or by notifying specific creditors through specific paperwork. Valid claims are also paid during this phase. An example of a valid claim may be funeral expenses.

Fees and taxes are paid in the administrative phase. Probate assets plus nonprobate assets make up the gross estate. Based on the value of the gross estate, there's a probate fee that's to be paid to the register of wills. Below is a fee chart.

Maryland Probate Fees Chart: https://registers.maryland.gov/main/f...

Taxes are also handled during the administrative phase. There could be an inheritance tax: a state tax of 10% based on the relationship of the person who inherited the property. If you leave property to your kids, they aren't going to have to pay an inheritance tax because of their relationship to you.

There are also estate taxes to deal with. The estate taxes occur at both the state and federal level. The state taxes are paid to the controller of the treasury. The federal taxes are paid to the IRS.

The Distributions Phase

In the final phase, distributions are made from the leftover assets. The will provides who gets what, when and how.

If no will is in place it is called dying intestate and the government determines who are the heirs. This depends on whether or not the deceased was married or if they had children.

Maryland Estate, Trust & Asset Planning | Resources from our Maryland Estate Attorneys
✅How to Protect Your Home and Life Savings in Maryland: Our Free Webinar: https://joinnow.live/s/NXEhp2
✅Download Our Free Book, How to Protect Your Home & Life Savings in Maryland: https://chesapeakewillsandtrusts.com/...
Learn More About Maryland Trust Law: https://chesapeakewillsandtrusts.com/...
Learn More About Wills: https://chesapeakewillsandtrusts.com/...
Learn More About Asset Protection: https://chesapeakewillsandtrusts.com/...
☎Contact Our Estate Planning Attorneys: https://chesapeakewillsandtrusts.com/...