Q: Is a testamentary will sufficient to avoid probate in Maryland VA even if you own a home?
A:
First of all, where in Virginia is Maryland? Which state's law is at issue?
Second, a testamentary will is one of the two ways (intestate being the other) to get INTO probate. A Will does not avoid probate.
Third, other than learning it from a poorly written TV script or a fraudulent weekend seminar, please explain why you need or want to avoid probate.
A:
In a word, "NO." A will does not avoid probate. A planner may have good reason to want to avoid the process and expense of probate (which typically involves costs to include a commission to the PR, newspaper publication, attorney fees and probate fee, though the probate fee is not particularly onerous in Maryland). Note that keeping something out of probate does NOT avoid inheritance or death taxes if those apply, though it may well save time and money for other reasons.
There are two primary ways to avoid probate. The easiest is to simply designate a beneficiary by title. Alternatively, in appropriate situations the planner may wish to create a revocable trust during their lifetime and transfer property to the trust so that a Trustee can take charge after the planner's death and disburse property without need for court oversight or approval.
While I hope that the above helps, it doesn't take the place of sitting down with an estate attorney.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
