Probate & Estate Administration
Probate is the legal process during which the court supervises the distribution of assets following an individual's death (the "decedent"). By this process legal title to the decedent's property is passed to the "heirs" if there is no will or to the "legatees" if there is a will. This process also insures that the decedent's oustanding debts, taxes and estate taxes will be paid.
Property that does not pass through probate includes property owned as
- Joint tenant with right of survivorship
- Tenancy by the entirety (for married individuals only)
- Assets in the name of a revocable trust
- Life insurance and annuities
- Retirement accounts and accounts set up as payable-on-death which are payable only to a named beneficiary
The probate process takes place in the State and County where the decedent was domiciled - had their permanent residence. In both Maryland and the District of Columbia the Register of Wills Office in the courthouse oversees the administration of the probate proceedings. If property is owned in another state then an "ancillary administration" in the second state will be necessary.
The "Personal Representative" is responsible for administration of the estate. This person will be designated by the decedent's will (and usually approved by the Court), and if there is no will, be chosen by the Court. The Personal Representative will be required to do many things including (often with the assistance of an attorney):
- Identify, collect and inventory the assets of the decedent
- File a notice to creditors (people who the decedent may owe money) in newspapers of general circulation for several weeks
- File a Petition For Probate
- Set up an estate account to receive any payments due the estate
- Pay funeral bills, outstanding debts, valid claims, and costs of administering the estate
- File insurance claims and notify various parties of the decedent's death
- Insuring that the decedent's income and estate taxes, if any are paid.
- Prepare a final accouning
If the decedent dies with a will, once the administration period is over, the remaining assets of the estate will be distributed to the persons named in the will and a final acounting is prepared for approval by the court. If there is no will then the remaining assets are distributed according to the laws of the decedent's domicile
There are occasions where the it is possible to simplify the probate process. However, the laws differ based on the jurisdiction where the estate must be filed. We stand ready to advise and assist you should you have any questions.