Maryland Release and Exoneration of Executor on Distribution to Beneficiary of Will and Waiver of Citation of Final Settlement

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Multi-State
Control #:
US-03366BG
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Word; 
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Description

Most states have a statute that requires something to the effect that upon the filing of an account for final settlement by the executor of the estate of a decedent, a citation is required to be filed containing a statement that such final account has been filed, the time and place when it will be considered by the court, and a statement requiring interested persons that are cited to appear and contest the same if they see proper.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

In Maryland, executors are typically paid before beneficiaries receive their inheritances, but the timing can vary. Generally, executors receive their fees once they have completed most of their duties.

Executor's Role in Maryland Probate Proceedings A personal representative's primary duties include marshaling the estate assets upon the decedent's death, paying, debts, expenses and taxes, and then making distribution pursuant to Maryland law or the decedent's last will and testament.

Surrogate's Court Procedure Act § 707 states that a nominated executor is ineligible to serve it if they are: (a) an infant; (b) an incompetent or incapacitated person as determined by the Court; (c) a non-citizen or non-permanent resident of the United States; (d) a felon; and (e) one who does not possess the ...

An executor has the authority from the probate court to manage the affairs of the estate. Executors can use the money in the estate in whatever way they determine best for the estate and for fulfilling the decedent's wishes.

The answer to ?Do all Wills go through probate in Maryland?? is yes. All Wills go through probate. However, not all assets do. Non-probate assets include life insurance policies, retirement accounts, and jointly owned assets.

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Maryland Release and Exoneration of Executor on Distribution to Beneficiary of Will and Waiver of Citation of Final Settlement