Legal Question in Wills and Trusts in Maryland

I have a close friend that is a Spanish citizen and was left an inheritance in the US. What would be the first step to get the assets transferred over in her name, so that she can transfer the monies into her foreign bank account?

Asked on 10/28/10, 5:14 pm

1 Answer from Attorneys

Phillip M. Cook Cook Legal Services, LLC

It depends on how the deceased's estate has been set up to distribute the assets. In other words, if there was a will, it will likely need to go through a process called "Probate." If the money was put in a trust for the benefit of your friend, then your friend can speak with the trustee(s) of the trust. If your friend was the beneficiary under a life insurance policy, chances are your friend simply needs to contact the insurance company and fill out the proper bank forms. I recommend that your friend hire a Maryland attorney who can assist her and make the process of obtaining the money as simple as possible.

Best of luck.*******The above is for informational purposes only and does not create an attorney-client privilege.*******

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Answered on 11/02/10, 6:56 pm

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