Probate is the legal process that takes place after someone dies.  It includes validating the ill (if there is a will), appointing an executor/administrator, identifying and inventorying assets, paying debts and taxes, and distributing the remaining property according to the terms of the will or intestate laws if there is no will.  Probate is initiated in the state and city/county in which the deceased person resided when they died.

No, not all estates require probate. In cases where the estate is valued at less than $50,000, probate may be entirely avoided if there is no need to appoint an executor or administrator. For estates worth less than $25,000 that require an executor or administrator, a simplified probate process may be available. Additionally, certain assets—such as those with designated beneficiaries or held in joint accounts—can often bypass probate altogether.

The process involves filing the will (if applicable), appointing an executor, providing notice to heirs and beneficiaries, submitting an inventory and accounting report(s), settling debts and taxes, and distributing the remaining estate to beneficiaries as per the will or intestacy laws.

The duration of the probate process can vary widely, depending on the complexity of the estate.  It can take anywhere from 6 months to over a year. 

Yes, probate can be avoided through various estate planning tools such as joint ownership, living trusts, payable-on-death accounts, and beneficiary designations.

Letters testamentary, often referred to as letters of qualification in Virginia, are legal documents issued by the court that authorize the executor/administrator to act on behalf of the estate.  They are necessary to access and manage the deceased person’s assets.

An executor is a person or entity (e.g., a bank) named in a will to carry out the instructions and requests of the deceased person. They are responsible for administering and settling the estate according to the deceased person's wishes and state laws, this includes managing the estate’s assets, paying debts and taxes, and transferring estate assets to their new owners.

An administrator is a person appointed by the court to handle an estate when there is no will or named executor. They have practically identical responsibilities as an executor, but must follow state intestate laws to distribute assets in the absence of a will.

Assets owned solely by the deceased—such as bank accounts, stock, bonds, investment accounts, vehicles, and other personal property— are generally subject to probate. In Virginia, real estate is treated as a unique category with specific rules determining whether it qualifies as a probate asset. On the other hand, assets held in joint accounts, assigned to designated beneficiaries, or placed in trusts typically avoid the probate process.

Generally, beneficiaries do not pay tax on inherited property, but there may be estate or inheritance taxes depending on the value of the estate, the state laws, and income to the estate.

An insolvent estate occurs when the debts and liabilities exceed the value of the assets of the estate.  In such situations, it is essential for executors to adhere to the established priority of payment procedures to prevent personal liability.