Section 5-702 - Election for modified administration. - Maryland Statutes

§ 5-702. Election for modified administration.
 

An election for modified administration may be filed by a personal representative of an estate within 3 months from the date of appointment, if: 

(1) All residuary legatees of a testate decedent and the heirs at law of an intestate decedent are limited to the: 

(i) Decedent's personal representative; and 

(ii) Individuals or entities exempt from inheritance tax in the decedent's estate under § 7-203(b), (e), and (f) of the Tax - General Article; 

(2) All trustees of each trust that is a residuary legatee are limited to the decedent's: 

(i) Personal representative; 

(ii) Surviving spouse; and 

(iii) Children; 

(3) The estate is solvent and sufficient assets exist to satisfy all testamentary gifts; 

(4) A verified final report under modified administration is filed within 10 months from the date of appointment; 

(5) Final distribution of the estate can occur within 12 months from the date of appointment; and 

(6) All residuary legatees of a testate decedent and the heirs at law of an intestate decedent consent to a modified administration as required under § 5-706 of this subtitle. 
 

[1997, ch. 596; 2003, ch. 232; 2004, ch. 477.]