Maryland Probate | Inheritance Advances in Maryland

After the loss of a loved one, you’re already going through a difficult time without the additional strain of complex jargon and paperwork. You should be able to collect your inheritance on your own time — but probate court can take months, if not years.

At Inheritance Funding, we specialize in helping heirs collect cash from their inheritances without going through the challenges of the probate court. Since 1992, we have provided our clients from all over the country with fast and simple probate cash advances in Maryland and beyond.

Is Probate Required in Maryland?

According to Maryland estate law, an heir must begin the probate process within six months of a loved one’s passing. Probate is a procedure where your loved one’s assets are legally distributed to the rightful beneficiaries through the court as determined by their will, and it’s a requirement in the state of Maryland.

Steps to Settling an Estate in Maryland

There are several steps the probate process in Maryland follows:

1. Determine who the personal representative is: The personal representative acts on behalf of the estate of the decedent — the person who passed away. This person guides the estate through the probate process.
2. Petition the probate: The representative prepares a petition for probate of the estate.
3. Make an inventory: During this step, the assets in the estate are inventoried and appraised.
4. Assess inheritance taxes: If you are not a direct relative, you may need to pay an inheritance tax, which is 10% for heirs who are not the decedent’s spouse, sibling, parent, grandparent, child or grandchild.
5. Consolidate the estate: This step prepares the estate for management and distribution by keeping up on taxes, liquidating the estate and more.
6. Make the distributions: The representative delivers the inheritance to the heirs based on the decedent’s wishes in the will or by the state’s inheritance structure if they died intestate, meaning without a will.
7. Close the estate: Once the claims are settled, the court will approve the estate to be closed.

What Happens if Someone Dies Without a Will in Maryland?

If the decedent dies without leaving a valid will, they have died intestate. In this case, Maryland’s intestate laws come into play. The assets will go to the next of kin — the closest blood relatives of the decedent’s family. Maryland defines an inheritance structure to specify who gets priority when distributing the assets:

1. Spouse
2. Children
3. Grandchildren
4. Parents
5. Siblings
6. Nieces and nephews

The decedent’s surviving next of kin determines who gets what assets and how much. Here is what Maryland law says about who inherits if the decedent died intestate:

• Maryland estate laws dictate that an individual’s remaining assets are distributed to their spouse in situations without a will.
• If there is no living spouse, the decedent’s children will receive the inheritance.
• If there are no living children or a spouse, it goes to the decedent’s parents.
• If the spouse and parents survive with no children, the inheritance is based on how long the spouse and decedent were married. If married for less than five years, the spouse receives $40,000 of the intestate property and one-half of the balance, and the parents get the remainder of the estate. If the marriage was longer than five years, the spouse inherits the entire estate.

The line of inheritance continues until all assets have been distributed.

How Long Does Probate Take in Maryland?

While many assume the probate court process is fast and efficient, navigating inheritance and estate laws can actually be quite tricky and drawn out. The process is also subject to many hurdles and delays preventing you from accessing your money for months or even years, including:

• Disputes between heirs
• Ambiguity with the will
• Poor estate planning
• Unknown assets
• Poor record keeping

These factors are often set in place before the decedent passes away.

Typically, regular estates going through the Maryland probate process will take a year or more to settle. There are certain instances where the process may take as little as two to 10 months to settle, but typically only in rare cases. During this time, the decedent’s assets are inventoried, assessed and distributed to the heirs. Until probate is complete, you can’t receive the inheritance your loved one wanted you to have.

How Much Does Probate Cost in Maryland?

The cost of probate in Maryland is not a flat fee — it is different for every case. The factors that determine the cost of probate include the estate plan type — if one was created — and the estate size and complexity.

The most common fees that may come up during probate include:

• Court fees
• Executor bond
• Filing fees
• Professional fees
• Attorney fees
• Personal representative compensation
• Administration fees

All of these fees are paid for out of the decedent’s estate. This coverage means the heirs don’t have to pay out of pocket, but it will decrease how much money each heir will receive by the time probate is over.

Is There an Inheritance or Estate Tax in Maryland?

Maryland is one of the few states with an inheritance tax, typically 10% of what you receive, which is collected after you receive your inheritance. However, exemptions are in place for many heirs, including spouses, children and parents. Maryland also enforces an estate tax, which is due nine months after death.

How Can I Receive Cash From My Inheritance Immediately?

If you’re feeling frustrated by Maryland’s lengthy probate dealings, you’re not alone! Many people feel like they’re getting the short end of the stick when they experience setbacks or delays during probate, but it is all too common. You might even be thinking about how you can get around it. Revocable living trusts can help you avoid probate in Maryland, but these arrangements require careful planning before death.

At Inheritance Funding Company (IFC), we work hard to get you your money when you need it with our quick and easy cash advance process. We’ll need some basic information from you to get started, including how much of your inheritance you want to access. Upon approval, we can send you your money the same day.

Our Maryland Inheritance Advance Process

Avoid Maryland’s long-winded probate proceedings with our simple four-step process that begins with a free consultation with our friendly staff. We’ll guide you through our straightforward paperwork before sending your probate advance immediately, giving you the freedom to save or spend your money on whatever you want.

As the industry’s oldest and largest probate advance provider, we offer advantages you can’t find anywhere else:

• Money for all your needs: We don’t place any requirements on your probate advance. You can do whatever you please with your money.
• The ability to use your inheritance today: Our super convenient inheritance process takes little time, so you can get your inheritance money right away. You can take care of everything over the phone or on the computer.
• No relation to income or credit: We give cash advances based on your estate — not your credit score, income or employment history.
• Lowest price guaranteed: Competing companies are no match for our incredibly affordable rates.
• No risk of recourse for nonpayment: You’ll never be responsible for repayment. We only provide advances, not probate loans — and we’ll collect our payment from the court when the probate process is complete.
• Zero hidden fees or monthly payments: Our services do not come with additional expenses or affect other inheritors in the estate.

Where Can I Get a Probate Advance in Maryland?

At IFC, we’ll help you get your cash advance without interruptions or holdups, no matter where you live. We cover heirs all across Maryland, including in the following counties:

• Montgomery County
• Prince George’s County
• Frederick County
• Harford County
• Baltimore County
• Carroll County
• Anne Arundel County
• Charles County
• Howard County
• Washington County
• & ALL other counties!

Skip the Maryland Probate Process at Inheritance Funding Today

Skip the line and get your cash fast with Inheritance Funding! We’ll help you avoid the Maryland probate process and receive your money when you need it most. We have a lot of experience helping heirs across the country access their inheritance as quickly and affordably as possible.

Contact us to start your free consultation!

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