Maryland Realty & Estate Administration Advice For Inherited Properties

Aug 7, 2023

Wondering what to do with your recently inherited property? Probate expert Marc Cormier (301-660-6272 x 711), representing Berkshire Hathaway Pen Fed Realty, can guide you through the next steps.

If you've recently inherited a family home, you may be experiencing a huge variety of emotions. What's the best way to move forward?

Marc Cormier helps you navigate all the complexities of inherited property while addressing your questions regarding capital gains taxes, home sale tax exclusion, inheritance issues, selling an estate, and more.

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Recognizing how complicated the probate process can be, Marc offers straightforward advice on a variety of topics, including how to deal with relatives, divide the contents of a home, and sell or keep a property.

A recent report from Yahoo! Finance shows that only 42% of Americans who expected to receive inherited property felt they were confident about managing their windfall, due to competing priorities, strong emotional reactions, and a lack of information about taxes and other issues. Marc notes that the process of managing your inherited property can often take months or even years. “Everyone takes the time they need to deal with the passing of a loved one,” he says. “Inheritors in this situation need to take the appropriate steps to learn the market, educate themselves, and have a reliable real estate agent, tax attorney, or accountant there to help.”

Marc explains the difference between administrative and judicial probate, how an estate’s size can affect the distribution of assets, and the way in which probate proceedings are handled in Maryland.

You'll also find information about how to file a decedent’s will, alongside a detailed description of the importance of a personal representative, the person who is granted authority to manage the administrative tasks that come with resolving an estate, like paying off debts and taxes.

As a Berkshire Hathaway Pen Fed real estate professional with over two decades of probate law experience, Marc is available to share his expertise and to provide further advice for you and your loved ones.

Clients offer glowing reviews for his services. “Marc just knew what he was doing with our inherited property,” says Yumi S. “He provided an analysis based on the market, kept us informed, and supported our decisions with relevant and timely information.”

Let Marc Cormier help you move forward with estate administration, starting now!

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