WHAT ARE THE MARYLAND DRAWBACKS

OF PROBATE

“When someone passes away, the probate process can often enter the picture. For example, if you maintain direct personal

possession of your property throughout your life and arrange for its transfer through the terms of a last will, the will would be

admitted to probate after your passing.”

Colleen Sinclair Prosser

Annapolis, Maryland Estate Planning Attorney

What Are The Maryland Drawbacks of Probate? www.sinclairprosserlaw.com 2

When someone passes away,

the probate process can

often enter the picture. For

example, if you maintain

direct personal possession of

your property throughout

your life and arrange for its

transfer through the terms of

a last will, the will would be

admitted to probate after

your passing.

A personal representative would conduct the business of the estate, but the

overall administration of the estate would be supervised by the probate court.

This would be true if you had a will, but it would also be the case if you had no

estate planning documents at all.

Probate is in place to serve a purpose, but it is not entirely positive for the

rightful heirs to an estate. Let's look at four of the drawbacks that go along with

the probate process.

PUBLIC PROCEEDING

As you go through your life making financial decisions, you probably play your

cards close to the vest as they say. Your business is personal, and privacy is

important to most of us.

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Probate is a public proceeding. As a result, any interested party could access

probate records to find out how you decided to plan your estate. This can be

generally disconcerting, but in addition to this, there can be people close to you

that would not be happy with your decisions. As a result, acrimony can ensue

among your family members and/or associates.

TIME CONSUMPTION

The probate process does not run its course overnight. First off, there is a

proving of the will. The court

must examine the document to

determine its validity. Final debts

must be paid during the probate

process, so the personal

representative must notify

creditors. They are given a

particular amount of time to come

forward.

During the process, the executor must identify and inventory the assets that

comprise the estate. Appraisals and liquidation of property may be necessary,

and it can take time to sell property at fair prices.

The exact duration of the probate process is going to vary depending on the

exact nature of the circumstances. A best case scenario would be around eight

months to a year, and complicated cases can take considerably longer.

What Are The Maryland Drawbacks of Probate? www.sinclairprosserlaw.com 4

ESTATE CHALLENGES

If any interested party is disgruntled, a will challenge could be issued during the

probate process. This can make the situation extraordinarily messy, and it can

extend an already lengthy process.

MONEY LOST

A considerable amount of money can be spent during the probate process. First

off, there will be a filing fee with the court. The personal representative is going

to put in a lot of time and energy performing the estate administration tasks, so

he or she is entitled to payment.

What Are The Maryland Drawbacks of Probate? www.sinclairprosserlaw.com 5

Since probate is a legal proceeding, the personal representative will typically

bring in a probate attorney. As a

result, there will be legal expenses

incurred during the probate process.

The final debts that must be paid

would include final taxes. An

accountant is often engaged by the

personal representative to handle

this aspect of the process, so there

can be accounting fees.

Property appraisals are going to cost

money, and there can be liquidation

expenses piled on. When you top it

all off with the miscellaneous

expenses that will invariably present

themselves, a considerable amount of money can be lost during the probate

process.

SUMMARY

The probate court handles estate matters. Probate serves a purpose, but there

are some drawbacks that go along with it that do not necessarily serve the best

interests of the heirs to an estate.

What Are The Maryland Drawbacks of Probate? www.sinclairprosserlaw.com 6

To put it succinctly, probate is time-consuming, it can be expensive, it opens the

door for anyone who wants to challenge the estate, and it is time-consuming.

The time consumption is a major pitfall, because the heirs cannot receive their

inheritances while the estate is being probated by the court.

If the drawbacks of probate are a source of concern for you, there are steps that

you can take to facilitate asset transfers outside of this process. A revocable

living trust can be a good choice for many people who want to avoid probate,

but there are other possibilities. To explore all of your options, set up a

consultation with a licensed estate planning attorney.

What Are The Maryland Drawbacks of Probate? www.sinclairprosserlaw.com 7

REFERENCES

American Bar Association

http://www.americanbar.org/groups/public_education/resources/law_issues_for_

consumers/probate.html

Office of the Maryland Register of Wills

http://registers.maryland.gov/main/

What Are The Maryland Drawbacks of Probate? www.sinclairprosserlaw.com 8

About the Author

Colleen Sinclair Prosser Currently the owner and manager of SinclairProsser Law, LLC, Colleen steers her firm with both a guiding hand and direct involvement with the clients, bringing to the table a wealth of Estate Planning experience from many years spent at the helm of a busy law practice. In the past Ms. Prosser served on the Board of Trustees for By Their Side, Lifelong Advocates for

Marylanders with Developmental Disabilities and on the Board of Governors of the American Academy of Estate Planning Attorneys. EXPERIENCE An established member of the American Academy of Estate Planning Attorneys, Colleen offers years of experience in estate preservation and transfer. A strong proponent of the living trust, she also focuses on wills, powers of attorney, living wills, probate, trust administration, prenuptial agreements, nursing home planning, and special needs planning. She strongly endorses long-term care insurance and, in certain cases, life insurance and some annuities as valuable estate preservation vehicles, and strives to assure the compatibility of her clients’ estate plan and financial plan. Sensitive to the challenges presented by lifestyle and circumstance, Colleen addresses each situation with personal attention, wisdom, and skill.

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