How Can I Protect My Elderly Parents’ Assets?
People are living longer and more active lives than any other point in history. This also means that more and more adult children find themselves dealing with new challenges that come with aging parents. And one of the questions we hear most often is, “How can I protect my elderly parents’ assets?”
Read MoreWhat Does a Guardian of the Estate Do?
For the purposes of this blog, we are going to focus on one of the three types of guardianship, Guardian of the Estate. Specifically, we are going to answer a question we are asked frequently, “What does a guardian of the estate do?” So, let’s dive right in.
Read MoreWhat is the Difference Between an Executor and an Estate Administrator?
Serving as a personal representative (executor or administrator) for a loved one’s estate is a big responsibility. “You have the power of attorney for the deceased person’s estate. You need to handle their real estate, settle any estate tax, communicate with their loved ones, and hire a law firm for legal advice, among other things,” explains Patrick O’Brien, executor.org. All in all, the entire process typically lasts about a year from start to finish – though the actual time can vary depending on the size and complexity of the estate. But did you know there is actually a difference between an executor and an estate administrator?
Read MoreCan Beneficiaries Object to an Estate Administrator?
An executor or personal representative can be nominated to serve in the deceased person’s will, however, if there is no Will, a court-appointed estate administrator or personal representative will be appointed by a probate court. The latter can sometimes lead to tensions amongst heirs who disagree with the court’s decision. So, one of the questions we hear often is, “Can beneficiaries object to an estate administrator?”
Read MoreWhat is the Estate Administration Fee in Maryland
id you know that a personal representative is entitled to a fee for their work? And these fees differ by state. So, we are often asked: What is the estate administration fee in Maryland?
Read MoreHow to File to Be an Administrator of an Estate in Maryland
When a friend or family member dies and does not have a will or estate plan in place, what most want to know is how to file to be an administrator of an estate or personal representative in the state of Maryland.
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