[MD] Can I use a Small Estate Affidavit to transfer my late husband's stocks to myself?
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Yes, you qualify for a Small Estate Affidavit. Maryland law establishes a small estate threshold of $100,000 if the spouse is the sole heir (MD Estates and Trusts Code § 5-601(c)). Since the stock is the only asset in his sole name and the value is under the allowable limit, you may use the Affidavit.
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My husband recently passed away. We owned everything jointly. There was no probate since I was the only heir. House is worth $450k, and his retirement $220K and other small assets. Can I still use a Small Estate Affidavit to transfer stock in his name to mine? I live in MD.
I'm sorry to hear about your husband's passing. Were you named as the beneficiary on his retirement accounts?
Yes on everything.
Do you have a copy of his will or any other estate planning documents that may affect the transfer of assets?
No.
Is there anything else the Estate Lawyer should know before I connect you? Rest assured they'll be able to help with your asset transfer.
We do have wills that state we're each other's beneficiary.
Thank you for choosing AskaLawyer! My name is Jessica and I am a licensed attorney that will be assisting you with your question.
I am so sorry for your loss. What is the value of the stock in his sole name?
$2,513.76
Yes, you qualify for a Small Estate Affidavit. Maryland law establishes a small estate threshold of $100,000 if the spouse is the sole heir (MD Estates and Trusts Code § 5-601(c)). Since the stock is the only asset in his sole name and the value is under the allowable limit, you may use the Affidavit.
I don't have the certificates here but I'm positive I'm the beneficiary. GE (stock) won't send me a statement until I send them the Small Estate Affidavit.
Ok yes you may use the Affidavit.
So now I just print out the Affidavit and have the notary sign it and that's it?
That is correct.
Thank you. If I have other questions in the next few days, how do I get ahold of you?
I hope I was able to help resolve your issue! If you have any other questions, feel free to ask.
