Woodbridge Attorney

Estate Administration

Estate administration is the process by which the executor, administrator, or trustee (the fiduciary) takes possession of and deals with the deceased person’s property over which the fiduciary has control. If there is a will, the fiduciary files or offers the will for probate. If the fiduciary has been appointed by the court as an executor, administrator, or trustee, the fiduciary must file certain specific court financial accountings. The fiduciary must determine the debts and liabilities of the deceased and see to the payment of those debts in the appropriate order of priority. The fiduciary is in charge of determining what tax returns (final income tax returns, estate income tax returns, trust income tax returns, estate tax returns) must be filed and seeing to the payment of taxes. The fiduciary must determine the value of all of the deceased’s assets, even those over which the fiduciary has no control, for tax and other purposes. Sometimes the fiduciary must sell the decedent’s property if instructions or authority to sell are contained in the will or trust. Occasionally, the fiduciary must petition the court for aid and direction in interpreting the decedent’s instructions or for fiduciary powers that are not contained in the will or trust. Finally, the fiduciary must distribute the deceased person’s property over which the fiduciary has control to the deceased person’s will or trust beneficiaries or to the deceased person’s heirs at law according to the laws of Virginia if there is no will. The distributions often require deeds and transfers of real estate and business interests to beneficiaries or heirs, as well as detailed instructions to brokerage firms concerning the disposition of stocks and bonds. Our law firm assists fiduciaries with these aspects of estate administration.

Estate Administration


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Probate
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Court Financial Accountings
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Trust Administration
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Deeds and Transfers of Real Estate and Business Interests In Estate and Trust Administration
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