A Maryland Petition for Administration of a Small Estate is a legal document used to allow an executor or administrator to take control of the deceased’s estate. The petition is filed with the Register of Wills in the county where the deceased resided. It is used to obtain Letters of Administration, or permission from the court to manage the estate. This document is necessary when there is no will or the estate is valued at less than $50,000. There are two types of Maryland Petition for Administration of a Small Estate: a Petition for Summary Administration and a Petition for Formal Administration. Summary Administration is used when there are no debts to be paid and the estate is valued at less than $50,000. Formal Administration is used when debts must be paid and the estate is valued at more than $50,000. Both types of petitions require the petitioner to provide the court with the name and address of the deceased, a list of heirs, and the estimated value of the estate.
Maryland Petition for Administration of a Small Estate
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How to fill out Maryland Petition For Administration Of A Small Estate?
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FAQ
Under the Ann. Code of MD, Estates and Trusts § 5-601, the main factor to consider is the value of the estate. If the estate contains property values of $50,000 or less at the date of death of the decedent, the estate will always qualify for small estate status.
Estate value of $50,000 or less. (If spouse is sole heir or legatee, $100,000.)
Probate in Maryland can take a year or longer. Creditors have six months from the date of death to submit a claim. Once the assets have been distributed, probate must remain open for at least six months to allow for a creditor to come forward.
A Maryland small estate affidavit is used to bypass the standard probate process and expedite the distribution of one's assets after death.
Small Estate - property of the decedent subject to administration in Maryland is established to have a value of $50,000 or less ($100,000 or less if the spouse is the sole heir).
To get letters of administration, you will need to submit your application to the probate courts. You will need to obtain a copy of the decedent's death certificate from the funeral home. It's best to request extra copies. However, you should submit the original copy with your application if possible.
To open a small estate, the personal representative must file several forms at the Register of Wills office where the decedent had his or her permanent home or was ?domiciled.? The addresses to these offices, along with other contact information, can be found on the Register of Wills homepage.
Which Assets Go Through Probate? A probate asset is anything titled in the name of the decedent alone at the time of their death. Probate assets are identified, valued, and reported to the court on the official inventory filed within 90 days of the Personal Representative being appointed.