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RULE 6-417. ACCOUNTS

West's Annotated Code of MarylandMaryland RulesEffective: January 1, 2020

West's Annotated Code of Maryland
Maryland Rules
Title 6. Settlement of Decedents' Estates
Chapter 400. Administration of Estates
Effective: January 1, 2020
MD Rules, Rule 6-417
RULE 6-417. ACCOUNTS
(a) Time for Filing. The personal representative shall file with the register an initial account (1) within nine months after the date of the appointment of the personal representative or (2) if the decedent died before October 1, 1992, within the later of ten months after the decedent's death or nine months after the date of the first publication. The personal representative shall file subsequent accounts until the estate is closed at intervals of the first to occur of: six months after the prior account is approved or nine months after the prior account is filed.
(b) Contents of Account. A personal representative's account shall include the following items, to the extent applicable to the accounting period:
(1) In an initial account, the total value of the property shown on all inventories filed prior to the date of the account; and in the case of a subsequent account, the total value of any assets retained in the estate as shown in the last account, together with the total value of the assets shown in any inventory filed since the last account.
(2) An itemized listing of all estate receipts during the accounting period, setting forth the amount, and a brief description of each receipt, including:
(A) each receipt of principal not included in an inventory of the estate;
(B) each purchase, sale, lease, exchange, or other transaction involving assets owned by the decedent at the time of death or acquired by the estate during administration, setting forth the gross amount of all gains or losses and otherwise stating the amount by which the transaction affects the gross value of the estate;
(C) each receipt of income including rents, dividends, and interest.
(3) The total gross value of the estate's assets to be accounted for in the account.
(4) An itemized listing of all payments and disbursements related to the satisfaction of estate liabilities during the accounting period, setting forth the amount, and a brief description of each payment or disbursement, including: funeral expenses; family allowance; filing fees to the register; court costs; accounting fees; expenses of sale; federal and state death taxes; personal representative's commissions; attorney's fees; and all other expenses of administration.
Committee note: Code, Estates and Trust Article, § 2-206(a) requires the register to waive fees under certain circumstances. A form to request the waiver is available on the website of the Maryland Office of the Register of Wills.
(5) The total amount of payments and disbursements reported in the account, and the amount of the net estate available for distribution or retention.
(6) Distributions and proposed distributions to estate beneficiaries from the net estate available for distribution, including adjustments for distributions in kind, and the amount of the inheritance tax due with respect to each distribution.
(7) The value of any assets to be retained in the estate for subsequent accounting, with a brief explanation of the need for the retention.
(8) The total amount of the estate accounted for in the account, consisting of all payments, disbursements, distributions, and the value of any assets retained for subsequent accounting, and equaling the amount stated pursuant to subsection (3) of this section.
(9) The personal representative's verification that the account is true and complete for the period covered by the account; together with the personal representative's certification of compliance with the notice requirements set forth in section (d) of this Rule. The certification shall contain the names of the interested persons upon whom notice was served.
(c) Affidavit in Lieu of Account. If an estate has had no assets during an accounting period, the personal representative may file an affidavit of no assets in lieu of an account.
Committee note: In some cases, an estate may be opened for litigation purposes only and there is no recovery to or for the benefit of the estate.
(d) Notice. At the time the account or affidavit is filed the personal representative shall serve notice pursuant to Rule 6-125 on each interested person who has not waived notice. The notice shall state (1) that an account or affidavit has been filed, (2) that the recipient may file exceptions with the court within 20 days after the court's order approving the account is docketed, (3) that further information can be obtained by reviewing the estate file in the office of the Register of Wills or by contacting the personal representative or the attorney, (4) that upon request the personal representative shall furnish a copy of the account or affidavit to any person who is given notice, and (5) that distribution under the account as approved by the court will be made within 30 days after the order of court approving the account becomes final.
(e) Audit and Order of Approval. The register shall promptly audit the account and may require the personal representative to furnish proof of any disbursement or distribution shown on the account. Following audit by the register and approval of the account by the court, the court immediately shall execute an order of approval subject to any exceptions.
(f) Exception. An exception shall be filed within 20 days after the order approving the account is docketed and shall include the grounds therefor in reasonable detail. A copy of the exception shall be served on the personal representative.
(g) Disposition. If no timely exceptions are filed, the order of the court approving the account becomes final. Upon the receipt of exceptions, the court shall set the matter for hearing and notify the personal representative and such other persons as the court deems appropriate of the date, time, place, and purpose of the hearing.
Cross reference: Code, Estates and Trusts Article, §§ 7-301, 7-303, 7-305, 7-501, and 10-101(a).

Credits

[Adopted June 28, 1990, eff. Jan. 1, 1991. Amended May 14, 1992, eff. July 1, 1992; Dec. 8, 1992; Feb. 10, 1998, eff. July 1, 1998; Sept. 17, 2015, eff. Jan. 1, 2016; Amended Nov. 19, 2019, eff. Jan. 1, 2020.]
MD Rules, Rule 6-417, MD R DEC EST Rule 6-417
Current with amendments received through May 15, 2022. Some sections may be more current, see credits for details.
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