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Virginia Code Title 64.2. Wills, Trusts, and Fiduciaries § 64.2-602. Payment or delivery of small asset valued at $25,000 or less without affidavit

Current as of January 01, 2025 | Updated by Findlaw Staff

A. Notwithstanding the provisions of § 64.2-601, any person having possession of a small asset valued at $25,000 or less may pay or deliver the small asset to any successor provided that:

1. At least 60 days have elapsed since the decedent's death; and

2. No application for the appointment of a personal representative is pending or has been granted in any jurisdiction.

B. The designated successor shall have a fiduciary duty to safeguard and promptly pay or deliver the small asset as required by the laws of the Commonwealth to the other successors, if any.

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Cite this article: FindLaw.com - Virginia Code Title 64.2. Wills, Trusts, and Fiduciaries § 64.2-602. Payment or delivery of small asset valued at $25,000 or less without affidavit - last updated January 01, 2025 | https://codes.findlaw.com/va/title-64-2-wills-trusts-and-fiduciaries/va-code-sect-64-2-602/

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