When a parent passes away without leaving a will in Maryland, the distribution of their estate follows the state’s intestacy laws. These laws outline who inherits, the percentage each person receives and the order of inheritance. Children of the deceased may benefit from understanding these rules.
How does intestate succession work?
In Maryland, intestacy laws prioritize the surviving spouse and children the most. The spouse will get half of the intestate property, and their children will share the rest.
If the decedent dies without a will but has no spouse, the estate typically goes to the children in equal shares. The distribution may also vary if the decedent has a surviving spouse and children but from a different partner. In that case, the spouse gets first $100,000 of intestate property and ½ of the rest before the children receive anything.
Additionally, may important assets such as retirement accounts, vehicles with a TOD registration or pension plans do not fall under intestate succession. Instead, they will be distributed according to the named beneficiary on the corresponding documents. Understanding what happens to a decedent’s estate may help beneficiaries set realistic expectations.
Can intestate succession be contested?
Children of the deceased may disagree with how the law decides to distribute their parent’s estate. However, contesting intestate succession can be difficult, if not impossible. Securing the guidance of an attorney is crucial to weigh if taking legal action is feasible and worth the time and effort.
How can intestate beneficiaries maximize their inheritance?
Beneficiaries may unexpectedly receive a significant amount of assets. An estate planning attorney’s guidance can be essential to maximizing an inheritance and avoiding expensive mistakes.
While Maryland’s intestacy laws are more or less fixed, seeking professional legal advice remains beneficial. With a knowledgeable attorney by their side, beneficiaries can better understand their rights and effectively protect their interests.
