Virginia Probate Laws, Important Timelines and Ways To Get Money Early

Basics Of Probate in Virginia

Probate is the official way of ensuring a person’s things are given to the right people after they pass away. If you don’t know much about this process, it’s important to understand that we must follow what the person who passed away wanted. This means we must pay off their debts and finish any crucial things they had started before they died. Even if you’re unfamiliar with these things, this article will give you basic information about the legal side of probate in Virginia.

What If Someone Doesn’t Want to Go for Probate?

In Virginia, there’s a way to avoid going through the probate process if you plan ahead. One way to do this is by setting up a "living trust" to pass your belongings to someone after you’re no longer here. The person who gets these belongings differs from those who previously owned them. They only get the belongings after the original owner has passed away. You can also skip probate in certain situations. If you have bank accounts, investments, life insurance policies, or retirement fund accounts, you can choose someone to receive them when you’re gone. When you pass away, these assets go straight to the chosen person if you show the institution a copy of your death certificate. For things owned jointly, like a house, they automatically go to the person still alive among the owners.

How Much Time Does Probate Take in Virginia?

The time it takes to complete the probate process can differ depending on factors such as the value of the assets and the state’s regulations. The person in charge of handling the probate, known as the executor, will let the beneficiaries know what paperwork is needed. If everything goes well without any disagreements, the probate process might wrap up in approximately six months to a year, and occasionally, it can take even more time to finish.

Is Probate Required in All States in Virginia?

Not every estate in Virginia has to go through the probate process, especially when the estate’s total worth is less than $50,000. Specific rules make the process simpler or different depending on the circumstances. For instance, if someone who has passed away owned property in Virginia valued at less than $50,000 (excluding their vehicle), a quicker probate process is available. This faster method speeds up the transfer of their belongings to the new owner. However, if the person owned property valued at more than $50,000, they must follow the standard probate process. This involves officially listing and documenting everything they owned before passing it on to the new owner.

Is It Necessary to Go for Probate in Virginia?

The clear answer is "Yes." In Virginia, probate is usually necessary unless the estate lacks proper documentation. For the most part, probate is required to ensure the assets are distributed correctly to the rightful heirs.

How Many Probate Courts Are There in Virginia?

There are no specific courts in Virginia. The circuit court is responsible for probate-related cases. It is located in every county where the deceased has lived. For more accurate and precise information, visit the Virginia Legislative website for the most nearby probate court.

What Is the Probate Code in Virginia?

The judges governing probate-related cases are observed under Title 64.2-449.  You can read all the information on the official Virginia Legislative website.