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Can I Do It Myself? Understanding the Risks and Realities of DIY Estate Administration?

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So, your beloved Aunt Mildred has passed, left behind a mystery drawer full of old baubles, three cats with names longer than your resume, and – oh yes – an entire estate. And now you’re wondering: “Can I do this myself? Like, without a lawyer? Or a meltdown?”

First of all, what is estate administration? In non-lawyer words, estate administration is what happens when someone dies and leaves behind stuff, money, and debts, and people want the stuff and money. Your job, as executor and/or trustee, is to follow the process to get the people who want the stuff and the money, the stuff and the money that they want.

When DIY Might Actually Work:

There is a Unicorn scenario in which you may be able to take care of the administration yourself. If there are no assets actually in the estate, everyone is shockingly chill, and all you need to do is file the will with the Register of Wills, you might be alright on your own. However, everyone usually has at least some assets, and as soon as that is the case, you should consult an attorney.

When to Definitely Tap Out and Call a Pro

There’s no shame in knowing your limits. (You’re not an estate attorney. Maybe you watched Suits once. That doesn’t count.) Here are some signs it’s time to call the professionals:

  1. There are assets in the Probate Estate or Titled in a Trust

There are different rules you need to follow depending on the titling of the assets. You want to make sure you are following MD law when transferring assets and dealing with beneficiaries.

  • There is no Will

MD has a default set of intestacy rules when someone dies without any estate planning documents.

  • Family Drama is Brewing

If people are already fighting or accusing each other of “stealing grandma’s pearls,” do not collect $200.00. Get help.

  • There are Tax Implications

There are several different types of taxes you need to worry about in MD including, estate tax, inheritance tax, and income tax. If the words “step-up in basis,” “unlimited marital deduction,” or “IRS” make you feel faint, please step away from the calculator.

And honestly, most estates (big and small) are going to have a combination of these factors. You should always consult an attorney at least in the beginning to figure out what factors you are dealing with.

Remember, estate administration comes with legal obligations. Mess it up and you could be:

  • Personally liable for mistakes, sued by cranky relatives, audited by tax agencies and forever haunted by your own bad filing system.

Here are some final thoughts from someone who has seen some things. The bottom line is you can do it yourself, but you probably shouldn’t. There are a lot of moving parts, and you can’t know what you don’t know. If it feels like it’s too much, you’re not weak. You’re wise. Call a lawyer, hug a cat, and take a nap. Aunt Mildred would want that for you.

For more information, please join us for an upcoming FREE seminar. If you have questions or concerns about your estate plan, contact the experienced estate planning attorneys at Sinclair Prosser Gasior by calling (410) 573-4818 to schedule an appointment. Click Here for information:

Sinclair Prosser Gasior Annapolis Headquarters office is now located at 183 Harry S. Truman Pkwy, Suite 104.

Beth Burgee, Estate Planning Attorney
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