Taking on the task of handling an estate in Maryland requires exceptional organizational, financial and legal skills. While you can choose whoever you want (well, they can figure it out their way as they go), selecting a professional estate executor may be just what you need. Here’s why.
Reduced stress for your loved ones
Losing you will be a great pain for those who love you. They will need time to grieve and then adjust to not having you anymore. With the strict time limit for probating wills in Maryland, giving someone like that the crucial job of being your executor may add unnecessary stress to their already tumultuous lives.
Professional impartiality
Disputes are so common between family members when it comes to estate disposal. Even if you wrote your will in the kindest manner possible, oversights or misunderstandings can easily lead to issues, tearing your loved ones apart. Hiring a professional executor with no vested interest in your estate can bring about a neutral approach, reducing the likelihood of conflicts.
Legal compliance
The Maryland probate law is complex and ever-changing. Failing to comply with the regulations can result in legal consequences, delaying the process and incurring additional costs. Professional executors are well-versed in these laws and have experience navigating through them, ensuring a smooth and compliant process for your estate.
Liability
Creditors, beneficiaries and other interested parties of an estate can file lawsuits against the executor if they have reason to believe that their interests are not being adequately represented. This is one of the reasons why probate bonds exist. They protect the estate from any potential losses associated with executor malpractice. A professional executor will often have their own liability insurance, providing an extra layer of protection for your estate.
Embracing the expertise of a professional estate executor for your Maryland estate sets the stage for a seamless, respectful transition of your assets to your loved ones. It’s an act of foresight and kindness, a final gift you leave behind, ensuring peace of mind while grieving. Therefore, consider researching who’s best fit to take on this important role for you and your loved ones based on your unique circumstances.