How Do I Probate a Small Estate in Virginia?
Full Question:
Answer:
Generally, it is necessary to go through probate. However in the case of smaller estates, before the deceased's property can be legally distributed it must undergo a less formal procedure under the general supervision of the probate court. Small estate administration is an alternative to a formal probate of an estate when the assets, liens, and encumbrances of the estate are under a certain statutory amount. Small Estate laws were enacted in order to enable heirs to obtain property of the deceased without probate, or with shortened probate proceedings, provided certain conditions are met. Small estates can be administered with less time and cost. Small estate procedures may generally be used regardless of whether there was a will. The administration of the estate may be commenced a certain time after death, 60 days in Virginia, and the appointment of a personal representative is made. An inventory and appraisal must be filed with the court. The personal representative, after giving any required notice to creditors, may immediately disburse and distribute the estate to the entitled persons.
Please see the following VA statutes:
§ 64.1-123. Payment of certain small sums due persons upon whose
estates there has been no qualification. —
When there is due a sum of not exceeding $15,000 from the
Commonwealth, whether it be a state income tax refund or a sum due on
some other account, or when there is due a sum of not exceeding $15,000
from the United States as a pension or money allowed for burial expenses
of soldiers, or from benefits resulting from occupational
pneumoconiosis, or for any death benefit from any labor union, or from any
employer to a deceased employee, upon whose estate there has been no
qualification, the Commonwealth, the United States or such employer, or
union, or any agency required to provide benefits to such deceased
employee, after sixty days from the death of such person to whom such
money is due, may pay such sum to his surviving consort, if any, and if
none such, then to the distributees of the decedent under the laws of
this Commonwealth whose receipt therefor shall be a full discharge and
acquittance to all persons whomsoever on account of such sum.
§ 64.1-132.2. Collection of personal property by affidavit. —
A. Sixty days after the death of a decedent, any person indebted to the
decedent or having possession of tangible personal property or an
instrument evidencing a debt, obligation, stock or chose in action
belonging to the decedent may make payment of the indebtedness or deliver
the tangible personal property or an instrument evidencing a debt,
obligation, stock or chose in action to a person claiming to be the
successor of the decedent upon being presented an affidavit made by or on
behalf of the successor stating that:
1. The value of the entire personal probate estate, wherever located,
does not exceed $50,000;
2. At least 60 days have elapsed since the death of the decedent;
3. No application for the appointment of a personal representative is
pending or has been granted in any jurisdiction;
4. The will, if any, was duly probated and the list of heirs required
by § 64.1-134 was duly filed; and
5. The claiming successor is entitled to payment or delivery of the
property, and the basis upon which such entitlement is claimed.
B. A transfer agent of any security shall change the registered
ownership on the books of a corporation from the decedent to the
successor upon the presentation of an affidavit as provided in
subsection A.
§ 64.1-132.3. Effect of affidavit. —
The person paying, delivering, transferring, or issuing personal
property or the evidence thereof pursuant to the affidavit is discharged
and released to the same extent as if he dealt with a personal
representative of the decedent. He is not required to see to the
application of the personal property or evidence thereof or to inquire
into the truth of any statement in the affidavit. If any person to whom
an affidavit is delivered refuses to pay, deliver, transfer, or issue any
personal property or evidence thereof, it may be recovered, or its
payment, delivery, transfer, or issuance compelled upon proof of rightful
claim in a proceeding brought for the purpose by or on behalf of the
person entitled thereto. Any person to whom payment, delivery, transfer or
issuance has been made is answerable and accountable therefor to any
personal representative of the estate or to any other person having a
superior right.
