Maryland Inheritance Loans and Probate Advance Law
The Maryland probate process makes sure the property and assets of a deceased individual are legally passed to heirs according to the directives in the last will and testament. If the decedent did not leave a will, the probate court would determine how their property will be divided and passed to the heirs. There are two types of probate in Maryland – judicial and administrative. When a will is contested, judicial probate is heard in the county Orphan’s Court, and when a will is uncontested, then probate is handled by the county register of wills. If you are the beneficiary or estate hair, you should familiarize yourself with Maryland probate laws.
What are Maryland Probate Laws?
Maryland probate laws are designed to ensure a will is valid and the wishes in the will are interpreted according to the law. The laws protect the assets of an estate and the interests of the heirs. They ensure the final debts and obligations of the deceased are paid and they allow for assets and property to be legally transferred.
A wills and estate attorney can help you if you are planning your estate or if you have been named as the executor of a will. An attorney can help you set up your estate so that your assets and property are transferred to your heirs in the most efficient and least costly manner. An attorney can also help the executor of an estate ensure they complete all the steps and tasks required for probate to conclude and the estate to be divided according to the directives in the will if there is one, or according to Maryland law if there is not.
What is the Probate Process in Maryland?
In Maryland, the core steps of the probate process are similar to those in other states, but there may be differences that you will need to be aware of or you risk causing delays.
First, a personal representative or executor is named to manage the estate through the probate process. This person will notify all beneficiaries that probate has been opened. They will also post public notice of probate so that creditors can file a claim of debt against the estate.
The executor will also find, harvest, manage and appraise all property and assets for the court and then pay the decedents’ debts and final tax obligations. Once these are paid, the executor will divide what remains of the estate amongst the heirs according to manner detailed in the will, and then probate is closed.
While this seems simple enough, the probate process can actually take months if not years. In fact, the length of probate is one of the biggest issues that heirs and beneficiaries face, especially when they need or want their inheritance funds now.
What Property Will Go Through Probate in Maryland?
Property that will go through probate in Maryland includes all property that the decedent solely owns unless other provisions were made. For example, real estate and other property that is jointly held with right of survivorship, and assets held in trust will not have to go through probate. When assets have a designated beneficiary, they can skip probate and go directly to the beneficiary. Likewise, assets that transfer on death or are payable upon death do not generally go through probate. An attorney can help you plan your estate so that probate is not needed.
How Can You Avoid Probate in Maryland?
Probate can be avoided in Maryland most effectively through estate planning. When properly planned, your estate can avoid probate, and your heirs can avoid the fees and expenses associated with probate, and you don’t have to worry about liquidating assets to pay debts. A revocable living trust can be set up to make sure your heirs get what you want them to have without having to deal with the lengthy and sometimes quite costly probate process.
How Can You Access Maryland Inheritance Funds Immediately?
With Probate Advance, you can access Maryland inheritance fund immediately, without having to wait for the long and drawn out probate process to end. Even better, you may qualify to get your inheritance funds in days, not years. Best of the all, the process is very simple, fast, and secure. Probate Advance provides beneficiaries with the choice of getting their inheritance now, with no hidden costs or fees, no credit checks, no interest, and no repayment plans.
Do You Qualify for an Inheritance Cash Advance?
It’s easy to find out if you qualify for an inheritance cash advance in Maryland. All you have to do is fill out the form or give us call so we can determine your eligibility. If you do qualify for a probate advance, you can get your money in only 24 to 48 hours. It’s your money; you shouldn’t have to wait for it. With Probate Advance, you don’t have to.
What Do You Need for a Probate Advance in Maryland?
What you need for a probate advance in Maryland is to fill out the form or give us a call. We only need basic information to determine if you qualify. We will confirm that you are a named beneficiary or heir and that the estate is in probate. Once we confirm that, all you need to do is tell us how you want to receive your money. We can issue a check or transfer funds within 48 hours. And there are no strings as to what you can do with the money. We simply provide you with an advance on your inheritance and then we collect from the estate with no effect on other heirs or beneficiaries.
What Areas of Maryland Qualify for an Inheritance Loan?
We provide inheritance loans throughout all of Maryland, including the following major cities:
You can learn more about probate laws in Maryland and estate rules by reviewing our resources.