Losing a loved one can be difficult, especially if you are left with the task of probating their estate after they pass away. The probate process can be stressful and very tedious, and there are many nuances involved in ensuring the laws and rules of probate are followed. At Michelle Tuschinski, Attorney at Law, we assist Virginians faced with probating the estate of someone close to them, making certain that the process is completed in a timely and legally compliant manner.
Probate Process Explained
When a person dies, probate is the court process through which the assets and debts of the deceased are identified, as well as their beneficiaries and creditors. In Virginia, this process occurs in the circuit court as there is no separate probate court. If the deceased left a small estate with a value less than $50,000, there is no need to go through a formal process. For an estate with a value of over $50,000, formal administration will need to take place.
Probate With A Will
When a person dies with a valid will at the time of their death, they are considered to have died “testate.” The will should name an executor, who is the person that will administer the estate. The executor may decline to serve as executor, and the will may anticipate this and name one or more alternative executors.
Probate Without A Will
When a person dies without a valid will at the time of their death, they are considered to have died “intestate.” When a person dies intestate, it is left to the Clerk of the Court to decide whether an individual is eligible to be the administrator of the estate. The person will need to qualify and be appointed.
The Role Of An Executor Or Administrator
The executor or administrator will need to identify all of the assets owned by the deceased, and they will need to take control of the assets. If there are debts related to the estate, they need to identify what those debts are and ensure they are paid.
Acting as an executor or administrator often involves selling at least a portion of the deceased’s estate. They will also need to identify the beneficiaries and ensure the estate is distributed to them. The executor or administrator must keep an accurate accounting of the assets, debts, and payments so that this can be presented to the court every year until a final accounting is made.
Help With Probating A Loved One’s Estate? Contact Michelle Tuschinski, Attorney at Law
Contact our firm to learn about our probate services. We also offer products and services that mitigate the risk of probate as well. We look forward to helping you soon.