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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. The second factor is the identity of the decedent's heirs.
This is done by filing a ?Petition for Declaration of Completion of Administration? along with any supporting documentation. The court will review your petition and, if everything ticks, will issue an Order Closing Estate. With this order, you can distribute any remaining assets to the rightful heirs and beneficiaries.
Maryland Law requires that any one holding an original Will and/or Codicil(s) must file that document with the Register of Wills promptly after a decedent's death even if there are no assets. However, although the Will and/or Codicil are kept on file, no probate proceedings are required to be opened.
Download form #1128 - Claim Against Decedent's Estate from our Forms Page. Complete the form and submit it along with supporting documentation. The cost to file is $3.00 per claim. Please note that claims must be filed within 6 months from the date of death.
To decide whether to file as a regular or small estate, you need to find the ?net value? of the property. To do this, subtract the amount secured debts from the value of assets. If net value is more than $50,000, the estate is a ?regular estate.? If net value is $50,000 or less, the estate is a ?small estate.?
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).
A Maryland small estate affidavit is used to bypass the standard probate process and expedite the distribution of one's assets after death.
Ideally, you should be able to close the estate within 13 months of the decedent's death. However, depending on the size and complexity of the estate, it may take longer. In any case, it's important to keep meticulous records throughout the process to prove to the court that you've fulfilled all your fiduciary duties.