If the decedent died without leaving behind a Will, the estate is an “intestate” estate. Fundamentally, probating a testate estate is the same as probating an intestate estate in that the basic goals of the probate process remain the same. There are, however, a few important practical and procedural differences. If there is no Will, the court must appoint a Personal Representative (PR) to oversee … [Read more...] about What if the decedent died without a Will?
Do all estates have to go through probate?
Most estates must go through some type of probate; however, the estate may not be required to go through formal probate. Like most states, Maryland offers a small estate alternative to formal probate for estates valued at less than $50,000 ($100,000 if the spouse is the sole legatee or heir) as of 2020. … [Read more...] about Do all estates have to go through probate?
What is probate?
Most people leave behind an estate when they die. That estate consists of all assets, both tangible and intangible, as well as both real and personal property, owned by the decedent at the time of death. Probate is the name given to the legal process that eventually transfers those assets to the new owners. … [Read more...] about What is probate?
Do I really need an attorney to help me create my Will?
In today’s electronic age, it is easy to find just about any DIY legal form you might need. Although it is understandable that you might see an opportunity to save time and money by using one of these forms, the reality is that you are more likely to cost your loved ones a considerable amount of unnecessary time and money when it comes time to probate your estate. DIY Will forms are notorious for … [Read more...] about Do I really need an attorney to help me create my Will?
What happens in a Will contest?
After your death, any “interested person” can contest the validity of your Will. Contrary to popular belief, however, one of your heirs or beneficiaries cannot contest a Will simply because they are unhappy with the inheritance left to them (or lack thereof). Instead, a Will contest must allege, and eventually prove, a legal reason why the Will is invalid. The Executor of the Will must defend the … [Read more...] about What happens in a Will contest?
Should I use a Will or a trust to distribute my estate assets?
This is something that can truly only be decided after consulting with an experienced estate planning attorney; however, there are some common considerations when deciding whether a Will or a trust should be used. If your estate is small enough to qualify for small estate administration, and you do not have minor children (nor plan to have any soon), a Will should suffice. If, however, your estate … [Read more...] about Should I use a Will or a trust to distribute my estate assets?
Who should I appoint as my Executor?
One of the most common mistakes people make when creating a Will is to simply appoint a spouse, friend, or family member as the Executor of the Will without giving any real consideration to whether the individual is the best person for the job. The Executor of a Will has several duties and responsibilities, many of which are best carried out by someone with a legal and/or financial background. … [Read more...] about Who should I appoint as my Executor?
What happens if I die without a Will in place?
If you die without a Will in place, you will leave behind an “intestate” estate. If you die intestate, the state decides how your estate assets are distributed using the state intestate succession laws. Usually, this means that only close relatives will inherit from the estate in most cases. You also give up the ability to decide who oversees the administration of your estate when you die … [Read more...] about What happens if I die without a Will in place?
When do I need to create my first Last Will and Testament?
A common myth is that you do not need a Will until you are “older” or until you have achieved sufficient financial success. The simple truth is that every adult can benefit from having an estate plan in place without regard to age, marital status, or net worth. At a bare minimum, executing a Will ensures that the state will not determine what happens to your estate assets and will avoid the … [Read more...] about When do I need to create my first Last Will and Testament?
What is a Last Will and Testament?
A Last Will and Testament is a legal document that is used to express an individual’s wishes regarding his/her estate assets and what should be done with them upon the Testator’s (creator of the Will) death. Gifts made in a Will may be general or specific and may be made to as many different beneficiaries as the Testator wishes. Along with serving as a vehicle for making gifts of estate assets, a … [Read more...] about What is a Last Will and Testament?
