There are statistics that show that only about 45 percent of Americans have put a will or estate plan in place. This means that an alarming 55 percent are unprepared and usually leave for their loved ones a legal mess. The estate refers to the assets and essentially the net worth of a person, dead or alive. It is very important to understand what the laws are regarding one’s estate in his or her state or Commonwealth. An Estate Law Attorney in Bel Air MD believes not only should a person be responsible about his or her estate, but that one is never too young to plan for it. You should contact Michael S. Birch Attorney. To help understand the Maryland laws regarding estates, here are some answers to some frequently asked questions.
1. What happens if my loved one left two or more wills? By the order of the latest date, that is the will that is usually the authority in an estate. All wills, however, should be presented to the office of the Register of Wills.
2. What happens to property that may have to go through probate? Probate frightens a lot of people. Whoever is the personal representative for the deceased loved one is the party responsible for identifying probate assets. That party must also handle all the necessary forms including taxes, creditor claims and distributions left over.
3. Does everyone’s estate end up in a probate situation? Unless the decedent had the property in his or her name only, and there are no outstanding issues, the estate usually does not go to probate.
4. Does the State of Maryland get the property if the deceased dies without a will? The answer to this question is usually no. There are variables that must be understood about this.
Michael S. Birch Attorney at Law has been providing estate law and real estate solutions for over 35 years to clients in the Bel Air, Maryland area. While death is quite uncomfortable for many people to address, it is responsible to do so. Your family’s peace of mind concerning your estate is the best gift you could possibly leave them. If you need more advice on estate matters from an Estate Law Attorney in Bel Air MD, you can consult Michael S. Birch, Attorney at Law.
