• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Sinclair Prosser Gasior

Annapolis Estate Planning Attorneys

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Call Now: (410) 573-4818

Attend a Free Workshop Trustee School

  • Home
  • About Our Firm
    • About Our Firm
    • Founding Attorneys
    • Meet Our Team
  • Services
    • Annapolis, MD Asset Protection and Business Planning
    • Estate and Gift Tax Figures
    • Annapolis, MD Elder Law & Medicaid Services
    • Annapolis, MD Trust Administration & Probate
    • Family-Owned Businesses & Farms
    • Annapolis, MD Incapacity Planning
    • Annapolis, MD LGBTQ Estate Planning
    • Annapolis, MD Pet Planning
    • SECURE Act
    • Annapolis, MD Special Needs Planning
    • Estate Planning for Young Families
  • Resources
    • DocuBank
    • Elder Law Reports
    • Estate Planning Definitions
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Asset Protection Planning
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid
      • Power of Attorney
      • Probate Avoidance
      • Trust Administration & Probate
      • Wills
    • Is Your Estate Plan Outdated?
    • Probate Resources
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Trust Administration
      • Estate Planning for Niches
    • Top 10 Estate Planning Techniques
    • Newsletters
  • COMMUNITIES WE SERVE
    • Anne Arundel County
      • Annapolis
      • Crownsville
      • Davidsonville
      • Highland Beach
      • Millersville
    • Baltimore County
    • Calvert County
      • Dunkirk
      • Huntingtown
      • Owings
    • Charles County
      • Charlotte Hall
      • Waldorf
    • District of Columbia
    • Howard County
    • Maryland
      • Clarksville
      • Columbia
      • Ellicott City
    • Prince George County
      • Bowie
      • Fort Washington
      • Glenn Dale
    • Queen Anne’s County
      • Grasonville
      • Queenstown
      • Stevensville
    • St. Mary’s County
      • Charlotte Hall
      • Leonardtown
  • Reviews
    • Our Reviews
    • Review Us
  • BLOG
  • Contact Us
  • Make A Payment
  • Client Portal
Home / Estate Administration / What is Involved in Administering an Estate?

What is Involved in Administering an Estate?

January 16, 2015 by Sinclair Prosser Gasior

  1. Colleen Sinclair Prosser, Attorney

As the attorney in the office that assists trustees and executors with the transfer of assets after death, I have the opportunity to work with many families concerning unique and interesting issues.  I always tell my clients that the less family, assets and wealth they have, the easier it is to administer the estate.  However most people don’t live their lives in order to make estate administration an easy process.  People want to live their lives to the fullest enjoying all aspects of what life has to offer.  Unfortunately, without proper planning, the process of settling the estate becomes more difficult.

The first matter to consider when a person dies is the funeral.  Funerals can cost a lot of money or cost nothing at all.  Donating your body to science is free and there is no requirement that you have a funeral service.  Most likely your family and friends will want to pay tribute to you in a service or life celebration.  Preplanning and prepaying your funeral will be a gift you can give your loved ones that they will very much appreciate.  Make sure that you keep receipts for anything you spend on the funeral.  Most funeral expenses are reimbursable from the estate.

Next the trustee and/or executor of the estate will need to meet with an estate planning attorney to review the estate administration process.   If you are the trustee or the executor you want to carefully consider who else to bring to this meeting.  It is not a good idea to bring the entire family.  This can get complicated and possibly cause some misunderstanding.  An extra set of ears or someone to take notes may be all you need.  Also, unlike the movies, there is no “reading of the will”.  The last will and testament will be filed with the Register of Wills in the county where the decedent last resided and anyone who is interested will be able to read the will on their own.  If the decedent planned their estate with a living trust, then the beneficiaries of the living trust are entitled to a copy of the trust.

The attorney will want to review the will and/or trust and verify that you are the person who can make decisions for the estate.  The attorney will also want to see the death certificate.  By the way, when ordering death certificates you may just want to get 4-5.  If you need more you can always order them.  Most people who want to see the death certificate will make a copy of it and return the original to you.

The attorney will then ask you questions about the decedent’s assets and liabilities.  As the administrator you will be responsible for valuing, appraising and inventorying all the assets of the estate.  You will also be responsible for paying debts and taxes.  However, you should be cautious as to which debts you pay.  If you pay debts that are not valid, then that money may be coming out of your pocket.

Once the inventory of assets is created an accounting is prepared.  The accounting will show all income, receipts, disbursement and expenses.  The beneficiaries of the estate will be entitled to a copy of the accounting.  Therefore, keeping accurate records during the estate settlement process is important. For all your efforts you will be entitled to a fee for the work you did.  The fee is set by the laws of the state of Maryland.  In probate cases the fee has to be approved by the court before it is paid.  You will want to include the fee on the accounting.  Your fee is also subject to income tax and must be reported to the IRS as income.

As you can see, the administration of an estate is complex.  Meeting with a qualified estate planning attorney is an important step in establishing and administering an estate.

  • Author
  • Recent Posts
Sinclair Prosser Gasior
Sinclair Prosser Gasior
Our firm is dedicated to providing you with quality estate planning resources, so you can become familiar with all of the existing options. When you visit or call our office, we want you to feel comfortable discussing such an important issue concerning both you and your family. We want to arm you with the information you need to make an informed decision about your family’s future.
Sinclair Prosser Gasior
Latest posts by Sinclair Prosser Gasior (see all)
  • How Often Should I Meet with an Estate Planning Attorney? - January 18, 2018
  • Tax Law Changes for 2018 - December 29, 2017
  • Dedicated Gardeners & Creative Spaces in Annapolis, MD - May 30, 2017

Filed Under: Estate Administration Tagged With: Executor, Inventory, trustee, Valuation

Other Articles You May Find Useful

Comparing the Roles of Trustees and Personal Representatives
Sorting Household Stuff: A Guide for Personal Representatives
Administering Estates During a Pandemic
How Trust Administration Works Better Than Probate
Final Income Tax Return
Sinclair Prosser Gasior
Filing Taxes for the Deceased

Primary Sidebar

Download our free estate planning worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.
  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Testimonials

5 Stars
Client Review
September 3, 2020
    

We initiated estate planning following a presentation by Sinclair Prosser Attorney Jon Gasior. We were so impressed, we contracted with them to complete our estate planning. Subsequently, we assembled information on our assets and Sinclair Prosser Gasior did the rest. Correspondence was communicated to our financial institutions and the estate was established. We were very pleased with the courteous manner of the Sinclair Prosser Gasior staff. However, it was their professionalism that made us satisfied we chose this firm to handle our estate. We have nothing but praise for Sinclair Prosser Gasior .

default image
– Walter K.

Blog Subscription

Sign up for our blog to receive all of our latest estate planning news and updates!
  • This field is for validation purposes and should be left unchanged.

ANNAPOLIS

900 Bestgate Road
Suite 103, Annapolis, Maryland 21401
Phone: (410) 573-4818
Fax: (410) 573-2802

BOWIE

4201 Mitchellville Road
Suite 403, Bowie, MD 20716
Phone: (301) 970-8080
Fax: (410) 573-2802

MILLERSVILLE

1520 Jabez Run Rd
Suite 300, Millersville, Maryland 21108
Phone: (410) 573-4818
Fax: (410) 573-2802

WALDORF

Hamilton Centre II
3261 Old Washington Road, Suite 2020 Waldorf, MD 20602
Phone: 800-366-4615

Map

map for office

Footer

footer logo
  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

The information on this Maryland Attorneys & Lawyers / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

© 2023 American Academy of Estate Planning Attorneys| Privacy Policy | Contact Us | Disclaimer | Site Map