Are you the Personal Representative for a probate estate in Maryland?  This article and accompanying video will help you learn how to open an estate.  The Maryland probate checklist for preparing the inventory is a guide that can be used, along with your probate attorney, to help you navigate the probate process in Maryland.  This easy probate checklist for preparing the inventory is a great guide, especially for those who are new or unfamiliar with the legal process in Maryland.  Of course, your probate attorney at Frame and Frame will guide you every step of the way, so if you have questions, don’t hesitate to call or schedule an appointment.

As the personal representative of the estate, you will need to prepare an inventory to open the estate for the probate process in Maryland.  We will assist you in gathering the necessary information and properly completing the inventory form. Once you have opened the estate, you will have the legal authority to act on behalf of the estate.

This means you can obtain financial information, file individual and estate tax returns, access accounts, and begin taking the necessary steps to properly administer the estate in accordance with Maryland law.  Your probate attorney will help you navigate each of these responsibilities.  Use the video or the checklist below to help navigate the probate process in Maryland.  Watch this video on YouTube: https://youtu.be/t5vZ-JLjYqI

Step 1:  Prepare the Inventory

These are assets that:

1. Were held solely in the decedent’s name alone, at the time of death.
2. Or were owned as tenants in common with another person.
3. Or assets located outside of Maryland.

To determine whether an asset is subject to probate, your attorney will need to review the account ownership documents, so begin by gathering those documents and providing them to your attorney.

Step 2:  Rules for a Dedicated Estate Bank Account

All proceeds from the decedent’s closed accounts must be deposited into a dedicated Estate Bank Account. Our team can help you set this up correctly.  Keep in mind, there are a few rules that you must comply with, in regards to the Estate Bank Account:

1. No distributions can be made without court approval.
2. There is a 20-day waiting period, after approval, before funds can be distributed.
3. The Estate Account should only be used for estate-related expenses.
4. Do not make any payments towards credit cards, medical bills, or bills not related to estate assets, without contacting your probate attorney first.

These rules are important to ensure legal compliance and to prevent you from any future liabilities, so be sure to discuss any withdrawals with your probate attorney.

Step 3:  Gathering the Data

To move forward, this probate checklist provides an overview of some things your probate attorney will need you to gather.  Use this easy probate checklist as a guide:

1. Date-of-death statements for all accounts without beneficiaries.
2. Vehicle details for any cars solely in the decedent’s name.
3. All bank statements for the Estate Account
4. Closing statements for any real property sold.
5. Copies of all checks deposited and written from the Estate Account.
6. Proof of any estate-related payments made from your personal funds.

If you are having trouble gathering this information, your probate attorney can help research and gather the appropriate information for the Maryland probate process.

Your Probate Attorney will Provide Guidance

Dealing with the death of a loved one is challenging, and we know that administering an estate can be complex, but remember that you’re not alone. The team at Frame & Frame is here to review these documents and guide you through each step.  We are here to support you, providing clear guidance every step of the way. Your probate attorney can also help you administer the estate to avoid any future problems.  If you have any questions or need assistance, please reach out to us to schedule a call or consultation.

For more information, download the Free Guide to Probate in Maryland.