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Virginia Instructions and Duties of an Executor or Administrator (Fiduciary) of a Decedent's Estate

State:
Virginia
Control #:
VA-LOU-30
Format:
PDF
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Instructions and Duties of an Executor or Administrator (Fiduciary) of a Decedent's Estate Virginia Instructions and Duties of an Executor or Administrator (Fiduciary) of a Decedent's Estate include: 1. Locate and gather the decedent’s assets: The Executor or Administrator (Fiduciary) is responsible for identifying, locating and gathering all the decedent’s assets, including real estate, personal property, bank accounts, and investments. 2. Secure and protect the assets: The Executor or Administrator (Fiduciary) is responsible for taking all necessary steps to secure and protect the decedent’s assets while the estate is being administered. 3. Notify creditors: The Executor or Administrator (Fiduciary) is responsible for notifying all known creditors of the decedent’s death and the administration of the estate. 4. Pay creditors: The Executor or Administrator (Fiduciary) is responsible for paying all valid and approved claims of the decedent’s creditors. 5. Collect all debts due to the estate: The Executor or Administrator (Fiduciary) is responsible for collecting all amounts due to the estate, including debts, loans, and accounts receivable. 6. File all necessary tax returns: The Executor or Administrator (Fiduciary) is responsible for filing all necessary federal, state, and local tax returns for the decedent and the estate. 7. Distribute the estate: The Executor or Administrator (Fiduciary) is responsible for distributing the assets of the estate according to the decedent’s wishes as stated in the will. Types of Virginia Instructions and Duties of an Executor or Administrator (Fiduciary) of a Decedent's Estate include: 1. Locate and gather assets 2. Secure and protect assets 3. Notify creditors 4. Pay creditors 5. Collect debts due to the estate 6. File tax returns 7. Distribute the estate.

Virginia Instructions and Duties of an Executor or Administrator (Fiduciary) of a Decedent's Estate include: 1. Locate and gather the decedent’s assets: The Executor or Administrator (Fiduciary) is responsible for identifying, locating and gathering all the decedent’s assets, including real estate, personal property, bank accounts, and investments. 2. Secure and protect the assets: The Executor or Administrator (Fiduciary) is responsible for taking all necessary steps to secure and protect the decedent’s assets while the estate is being administered. 3. Notify creditors: The Executor or Administrator (Fiduciary) is responsible for notifying all known creditors of the decedent’s death and the administration of the estate. 4. Pay creditors: The Executor or Administrator (Fiduciary) is responsible for paying all valid and approved claims of the decedent’s creditors. 5. Collect all debts due to the estate: The Executor or Administrator (Fiduciary) is responsible for collecting all amounts due to the estate, including debts, loans, and accounts receivable. 6. File all necessary tax returns: The Executor or Administrator (Fiduciary) is responsible for filing all necessary federal, state, and local tax returns for the decedent and the estate. 7. Distribute the estate: The Executor or Administrator (Fiduciary) is responsible for distributing the assets of the estate according to the decedent’s wishes as stated in the will. Types of Virginia Instructions and Duties of an Executor or Administrator (Fiduciary) of a Decedent's Estate include: 1. Locate and gather assets 2. Secure and protect assets 3. Notify creditors 4. Pay creditors 5. Collect debts due to the estate 6. File tax returns 7. Distribute the estate.

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Virginia Instructions and Duties of an Executor or Administrator (Fiduciary) of a Decedent's Estate