Legal Question in Wills and Trusts in Maryland

An estate of $150,000.00 would be well over the threshold of a small estate ($30k, or $50k with a surviving spouse as sole beneficiary). As such, an estate will be required to be opened. If, however, the bank accounts had beneficiary designations listed, the assets would not be considered probate assets (but check with your accountant regarding possible tax issues). The State of Maryland has published an excellent resource on Maryland estate administration: http://registers.maryland.gov/main/packets/AdministrationBooklet07.pdf.

While Personal Representatives (the term for Executors in Maryland) sometimes administer estates without the aid of legal counsel, having a competent attorney may prevent an expensive error and be able to give practical advise on administering the estate efficiently.