The consent required under § 5–702(5) of this subtitle shall state that the subscribing person has notice that:
(1) Instead of filing a formal inventory and account, the personal representative shall file a verified final report under modified administration no later than 10 months from the date of appointment;
(2) On request by any legatee or heir not paid in full, a formal inventory and account shall be provided by the personal representative to the legatees or heirs;
(3) A written objection to modified administration by an interested person may be filed with the register of wills at any time during administration, which shall revoke the modified administration;
(4) By filing a written objection:
(i) The modified administration is revoked;
(ii) The estate shall be administered under administrative probate; and
(iii) The personal representative shall file a formal inventory and account as needed until the estate is closed;
(5) Unless an interested person waives notice of the verified final report under modified administration, the personal representative shall provide a copy to each interested person within 10 months from the date of the appointment; and
(6) Under modified administration, distribution to all legatees and heirs shall be made within 12 months from the date of appointment.