4 Options for Avoiding Probate in Maryland

 Posted on January 24, 2025 in Estate Planning

Probate is the term used to describe the legal process through which someone’s estate is managed and distributed after they die. Unfortunately, probate can be expensive, stressful, and time-consuming for the people you want to leave inheritances for. There are several steps you can take to minimize or avoid the need for the probate process altogether, thereby ensuring that your assets are transferred smoothly, efficiently, and according to your wishes after your death. To understand more about these options, speak with an experienced Maryland estate planning lawyer.

How Can I Avoid Probate?

In Maryland, there are several options available for people who want to plan for the future of their estate without needing probate. Some of these options are:

Create a Revocable Living Trust

A revocable living trust transfers ownership of your assets to the trust while allowing you to keep control of them. After you die, the assets in the trust are transferred directly to your beneficiaries without them needing to go through probate. An added benefit is that a living trust offers privacy because the terms are not made public in the way that a will is during probate.

Designate Beneficiaries on Accounts and Assets

In Maryland, you can appoint beneficiaries for your accounts and assets, and then those assets can, in turn, be passed directly to them when you die, eliminating the need for probate altogether. Whether you want to designate a beneficiary for your bank accounts, retirement accounts, or life insurance policies, the idea is the same: You list your beneficiaries for your accounts, and when you die, the assets in those accounts are sent directly to the beneficiaries, allowing you to avoid probate altogether.

Set Up a Transfer-on-Death (TOD) Deed

When you set up a TOD deed, your assets will be transferred directly to your beneficiaries without probate upon your death, but you retain full control over the asset while you are alive. One limitation is that you can only set up a TOD for real estate. If you have other types of assets you want to leave for people after your death, a TOD is not recommended.

There are other possibilities for avoiding probate, including gifting your assets to your beneficiaries in your lifetime, which would reduce the value of the estate and might mean you can avoid probate. Ultimately, the options that suit you will depend on what your estate contains. A skilled lawyer can review your estate and advise you on how to proceed. 

Schedule a Free Consultation with a Silver Spring, MD Estate Planning Attorney

If you are working on your estate plan, speak with a qualified Chevy Chase, MD probate lawyer to understand how to address your assets. At The Eleff Law Group, we know you want to leave property behind for your loved ones without requiring them to go through the expensive, overwhelming, and lengthy probate process. Call us at 301-857-1990 to schedule a free consultation so we can work on an estate plan tailored to your wishes and needs.