Thursday, June 11, 2015
What is probate?
Probate is the legal procedure to administer and distribute an estate through a court-supervised process. The estate includes the deceased person’s property, including real estate, personal property and any other assets owned or controlled by the person who passed at the time of his or her death. Probate in Virginia typically includes recording the Will in the circuit court and having an Executor appointed to manage and distribute the estate according to the provisions in the Will. Probate also includes the administration of an intestate estate where the person who died did not have a Will and an Administrator is appointed by the Court. Sometimes, the probate process could include recording the Will without the appointment of a personal representative.
The Commissioner of Accounts is the person appointed by the Court to supervise the process of administering and distributing the assets of an estate in Virginia. The person administering the estate takes control of the decedent’s assets, pays the debts of the estate, reports to the court through the Commissioner of Accounts of the actions taken, and distributes the remaining assets according to the Will or intestate succession.