Legal Question in Wills and Trusts in Virginia
Will and Probate Law
I need to know the length of time from the time a will is entered into the probate to when the funds should be dispersed to the beneficiaries.
2 Answers from Attorneys
Re: Will and Probate Law
In the Commonwealth of Virginia, the executor or administrator of the estate normally has up to 14 months after the estate is opened to file his or her final report with the Commissioner of Accounts.
Re: Will and Probate Law
It also depends upon how fast the executor (personal representative) figures out what all of the decedent's possessions are and creates an inventory, figures out what all of the decedent's debts are, and pays off those debts, and then figures out what is left. It is possible for the executor to make an interim distribution if it is obvious that there will be more than enough money to pay all debts. However, this is mostly a messy bookkeeping exercise. The job of being an executor can be a pain in the neck, somewhat like balancing your checkbook twenty times over. Any assistance you might provide in helping the executor figure all of this stuff out could speed things along.