Legal Question in Wills and Trusts in West Virginia

Re: Estate settlement

The probate process in W. Va. is not complicated for ordinary estates. In order to complete the process, the named executrix must appear in person before the probate clerk in the county of the residence of the decedent. The executrix must have the original will, the social security number and date of death as well as the addresses of the beneficiaries under the will. The executrix called executor if male and generally called the fiduciary will placed under oath to well and truly administer the estate. Unless bond is waived in the will, bond will have to be given. An appraisement of the estate is due within 90 days of qualification The fiduciary will be required to marshal the assets, sell personal property to pay the decedent's bills. If there is sufficient cash to pay the bills, then the property need not be sold and could be distributed in kind to the beneficiaries, if all are in agreement. Counties vary in the procedure following qualification, but the estate will be published for creditors to file claims. Once the claims are paid or objections are resolved. The fiduciary could close the estate with a report of distribution showing all activity by way of sale and payment of bills. If there is only one beneficiary or if all beneficiaries agree that the distribution of cash and property is correct, then a waiver of further administration could be filed to close the estate without detailed accounting. In all events the first report is due within one year and annually thereafter if the estate takes longer to administer. If it is a large estate, there might be Federal Estate Tax. An accountant or lawyer should be consulted to be sure that the decedent's final return is filed and any other reporting is filed. Real estate, unless the fiduciary is directed to sell it as executor, vests in the beneficiaries upon death and could be sold by the owners at any time. The purchaser may require that the proceeds of sale be held in an escrow account until the estate is closed because, if the decedent's bills are not paid, then the fiduciary or a creditor could petition the Circuit Court to sell the property to pay the bills and claims against the estate.