Md. Code Ann., Est. & Trusts § 7-101
Redline — January 1, 2019 → current.View current text →
Current — January 1, 2020
As of January 1, 2019
(a) A personal representative is a fiduciary. He is under a general duty to settle and distribute the estate of the decedent in accordance with the terms of the will and the estates of decedents law as expeditiously and with as little sacrifice of value as is reasonable under the circumstances. He shall use the authority conferred upon him by the estates of decedents law, by the terms of the will, by orders in proceedings to which he is party, and by the equitable principles generally applicable to fiduciaries, fairly considering the interests of all interested persons and creditors.
(a) (1) A personal representative is: (i) A fiduciary; and (ii) Under a general duty to settle and distribute the estate of the decedent in accordance with the terms of the will and the estates of decedents law as expeditiously and with as little sacrifice of value as is reasonable under the circumstances. (2) A personal representative shall use the authority conferred on the personal representative by: (i) The estates of decedents law; (ii) The terms of the will; (iii) Orders in proceedings to which the personal representative is a party; and (iv) The equitable principles generally applicable to fiduciaries, fairly considering the interests of all interested persons and creditors.
(b) Unless the time of distribution is extended by order of court for good cause shown, the personal representative shall distribute all the assets of the estate of which he has taken possession or control within the time provided in § 7–305 of this title for rendering his first account.
(b) Unless the time of distribution is extended by order of court for good cause shown, the personal representative shall distribute all the assets of the estate of which the personal representative has taken possession or control within the time provided in § 7–305 of this title for rendering the first account.
(c) The personal representative does not incur any personal liability by his payment of claims or distribution of assets even if he does not consider claims for injuries to the person prosecuted under the provisions of § 8–103(e) or § 8–104 of this article, if at the time of payment or distribution: (1) He had no actual knowledge of the claim; and (2) The plaintiff had not filed on time his claim with the register.
(c) The personal representative does not incur any personal liability for the payment of claims or distribution of assets even if the personal representative does not consider claims for injuries to the person prosecuted under the provisions of § 8–103(e) or § 8–104 of this article, if at the time of payment or distribution: (1) The personal representative had no actual knowledge of the claim; and (2) The plaintiff had not filed on time a claim with the register.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.