In Maryland, a “regular estate” is an estate that does not qualify as a small estate and is subject to the standard probate process. This means that the estate must be opened with the Register of Wills, and the personal representative (executor) must follow the procedures and requirements set forth in Maryland law. The estate value thresholds are as follows: $50,000 or greater constitutes a regular estate unless the surviving spouse is the sole legatee, then the “regular estate” filing threshold is $100,000.
The probate process for a regular estate in Maryland involves several steps, including filing a Petition for Probate and Administration, inventorying and appraising the assets of the estate, paying off any outstanding debts or taxes, and distributing the remaining assets to the heirs or beneficiaries.
The personal representative is responsible for managing the estate during the probate process, which may include dealing with creditors, filing tax returns, and distributing assets. The personal representative must also comply with the deadlines and requirements set forth by Maryland law, and must seek court approval for certain actions, such as selling real estate or making significant changes to the distribution of assets.
It is important to note that the probate process can be complex and time-consuming, and it can involve multiple court appearances and legal fees. It is recommended to consult with a qualified attorney to understand the Maryland probate process and the options available for estate planning and asset distribution.
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