The General Concept of Maryland Probate Law
Probate is a very important part of the legal system. Most parts of the law only deal with issues between people that are living. Probate controls the possessions of those that are deceased. It allows for an orderly and hopefully fair transference of property and goods to the decedent’s heirs. 
It seeks to protect the inheritance rights to heirs of an estate by ensuring that they receive what the decedent provided for them in the will. Probate law also seeks to protect creditors by giving them the opportunity to file a claim against a deceased person’s estate when money is owed. It is always best to work with a qualified lawyer who is familiar with probate law.
Maryland Probate Law
In the state of Maryland, the individual who is in custody of the will is required to file it with the register of wills in the same county that the deceased last lived when they died. This needs to be done whether or not the estate goes to probate. There are two types of probate in Maryland, those for smaller estates and those for regular states.
Smaller estates are those that are $30,000 or less in total value. This is determined by the fair market value of all of property and assets in the estate. This figure must take into account any debts that the decedent had before they died.
It is best to work with a probate lawyer who knows the statutes in Maryland. Below we will provide a brief summary of what is involved in a small and regular estate probate.
A petition for probate, which includes a listing of the decedent’s property as well as appraisals for these assets, must be submitted to the court. Addresses and names of persons mentioned in the will or who would be in line to receive a portion of the estate, if there is no will, should be submitted to the court as well. In cases where there is no will or the person who was named as the administrator in the will, has not come forward, then consent of the personal representative must be made. An informational report is also required from the estate representative. This needs to include a recording of any joint property, trusts, P.O.D. accounts, retirement information and non-probate property. A notice of creditors may or may not be required to be placed in the local newspaper. Bond must be made even in small estate probate. There also needs to be a copy of the death certificate and a petition for probate.
Regular estates are those that are found to be worth $30,000 or more. In this process, a petition for probate must be made, a notice of creditors must be placed in a local newspaper. A bond is required. A personal representative must be appointed and there must be a complete listing with contact information of interested persons and a copy of the death certificate, compiled by the personal representative.
The Inventory Report, which must be completed by the personal representative, has to be completed within 90 days or roughly three months from their appointed. Appraisals need to be included along with a listing of the decedent’s assets. A First Account must be submitted within nine months from when the personal representative was appointed. This will again include a listing of the assets of the estate and what actions the administrator has taken. Receipts and other relevant information should be included.
Probate Loans
Probate loans are a good alternative for individuals that do not want to wait to receive cash. They may use their incoming inheritance money and borrow against it in order to get the money that they want right away. Inheritance advance loans can be had in a matter of days.
Probate Resources- Maryland
Inheritance Taxes- Maryland
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