Section 5-702 - Election for modified administrationAn 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:(i) The decedent's personal representative;(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; and(iii) Trusts under which each person who has a current interest in the trust is an individual or entity exempt from inheritance tax in the decedent's estate under § 7-203(b), (e), and (f) of the Tax - General Article;(2) The estate is solvent and sufficient assets exist to satisfy all testamentary gifts;(3) A verified final report under modified administration is filed within 10 months from the date of appointment;(4) Final distribution of the estate can occur within 12 months from the date of appointment; and(5) 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.Amended by 2013 Md. Laws, Ch. 645,Sec. 1, eff. 10/1/2013.