Detailed Answer
Gathering key information and documents before a loved one’s passing speeds up probate and reduces stress for survivors. Under Maryland law, the personal representative (formerly executor) must file an inventory of assets within 90 days of appointment (Md. Code, Estates & Trusts § 3-103). Having materials organized in advance helps meet this requirement and minimizes court delays and fees.
1. Personal and Family Information
- Full legal names, Social Security numbers, dates of birth and marriage certificates for the decedent and beneficiaries.
- Contact details for next of kin and close friends who may serve as witnesses or be named in the will.
- Copies of driver’s license or passport for identity verification.
2. Financial and Asset Documents
- Bank and investment account statements, including account numbers and institution contact details.
- Deeds or titles for real estate, vehicles and other titled property.
- Retirement account statements (IRAs, 401(k)s) and beneficiary designation forms.
- Life insurance policies, annuities and death benefit election forms.
- Safe deposit box inventory and location of keys.
3. Legal and Estate Planning Documents
- Original will or trust documents, including codicils and amendments.
- Powers of attorney for financial and health-care decisions.
- Living will or advance directive stating end-of-life care preferences.
- Guardianship designations for minor children, if applicable.
4. Debts and Obligations
- Credit card statements and loan agreements (mortgage, auto, student loans).
- Utility bills and medical bills that may require payment from the estate.
- Income tax returns for the past three years.
5. Digital Assets and Online Accounts
- Usernames and passwords for email, social media, cloud storage and cryptocurrency wallets.
- Instructions or authorization for digital asset access and disposition.
By assembling these documents ahead of time, you ensure a smoother process under Maryland’s probate rules and help your personal representative fulfill statutory duties promptly.
Helpful Hints
- Create a secure, labeled file (physical or digital) and update it annually.
- Discuss location and contents with the person you appoint as personal representative.
- Store originals in a fireproof safe or with a trusted attorney; provide certified copies if needed.
- Keep beneficiary designations current after major life events (marriage, divorce, birth).
- Review small-estate affidavit procedures for estates under $50,000 (Md. Code, Estates & Trusts § 7-201).
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney licensed in Maryland to address your specific situation.