Certificate Of Qualification In Virginia
Description
How to fill out Virginia Certificate - Letter Of Qualification Of Guardian?
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FAQ
In Virginia, any estate valued at greater than $50,000 at the time of the owner's passing must go through the probate procedure.
Virginia laws do not specify any particular qualifications or characteristics that your executor must have. You can name anyone who you trust, as long as they are willing and able to serve. If you leave a Will, it should name your chosen executor.
Even if no qualification is necessary, it is a good practice to probate the decedent's will. The probate notifies a title examiner that title to real estate has passed due to the death of a co-owner when the property was jointly titled, with survivorship.
The probate tax is imposed on the probate of most wills and grants of administration, and applies to property in Virginia. No tax is imposed on estates valued at $15,000 or less. The tax does not apply to the following types of property within an estate: Property passing by the exercise of a power of appointment.
A: The certificate of qualification, sometimes referred to as ?letters testamentary,? is the certificate that the personal representative receives from the Clerk at the time of qualification, which states that the person has qualified as executor or administrator and has authority to act on behalf of the estate.
