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Request the Accounting: Beneficiaries have the right to request an accounting from the executor or trustee. Legal Action: If the executor still refuses to provide the accounting, beneficiaries can petition the court to compel the executor.

Yes, all fiduciaries in Virginia handling the administration of an estate are required to file accountings unless filing requirements were waived at the time of your qualification.

As an executor, you must provide a formal accounting at least once a year, but beneficiaries can request an informal probate accounting in California at any time. When they do, you must produce it. Because of this, maintaining thorough and accurate records of the estate's finances is crucial.

It details every transaction that occurred during the executor's administration of the estate as well as all the estate's assets. Before the executor can finalize probate and close the estate, they must provide a final accounting that includes: An itemized list of the estate's assets.

Assets should be clearly identified, listed in reasonable detail, and valued as of the decedent's date of death (not the date the inventory is prepared).

Real estate and estates above $50,000 in personal property must use formal probate in Virigina. Estates below $50,000 can use a streamlined process. Assets in trusts as well as non-probate assets like life insurance and 401(k)s with beneficiaries also avoid probate.

If the decedent only owned real estate, probating the Will without qualification may only be required to transfer the real estate. Nonetheless, if the decedent owned personal property in his or her sole name, probate of the Will and qualification as a Personal Representative is necessary to transfer the assets.

Most people who have not signed estate planning documents assume that they have no estate plan. However, if you die without a will, Virginia's laws will determine who receives your property after you die. Either way, if you die with or without a will in Virginia, your estate must go through a process called probate.

These assets include life insurance, retirement accounts, stocks, pay on death bank accounts, and transfer on death accounts. All of these assets allow you to name a beneficiary, who will receive the asset at your death.