Full question:
Before my husband passed away, we had signed a contract with a large law firm in Maryland and have a medical malpractice suit ongoing at the present time. My husband just passed away the 15th of February and the law firm wants me to open a small estate in my husbands' name. What is this for and is it for my benefit or the law firms benefit, and is it safe to open a small estate?
- Category: Wills and Estates
- Subcategory: Small Estates
- Date:
- State: Maryland
Answer:
When a person dies, their assets are distributed in the probate process. If a person dies with a will, an executor is named to handle the distribution of the estate. In cases where the decedent didn't own property valued at more than a certain amount, which varies by state, the estate may go through a small estate administration process, rather than the formal probate process. It is a legal procedure that is less complicated, and can reduce the time and expenses associated with the formal probate process. As long as the statutory requirements are followed, it is authorized to proceed with a small estate administration in Maryland. In Maryland, small estate administration is allowed if the decedent's estate isn't worth more than $30,000. Typically, a law firm should charge a client less to handle a small estate case rather than a formal probate of an estate, due to its simplied nature.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.