Virginia Small Estate Affidavit
In Virginia a small estate affidavit lets successors collect a decedent's personal property when the personal probate estate is $75,000 or less, once 60 days have passed since death, without qualifying a personal representative. Attorney review available.
Introduction
A small estate affidavit is a sworn statement that lets a decedent's successors collect the decedent's personal property, such as a bank account, a final paycheck, or securities, without qualifying a personal representative in probate. In Virginia it is used under the Virginia Small Estate Act, Va. Code Section 64.2-601, where the affidavit is made by all of the known successors and names a designated successor to receive the asset. The affidavit may be used only after at least 60 days have elapsed since the decedent's death, and only when the value of the decedent's entire personal probate estate as of the date of death, wherever located, does not exceed $75,000. The person holding the small asset, such as a bank or transfer agent, pays or delivers it to the designated successor, who then owes a fiduciary duty to safeguard and promptly pay or deliver it to the other successors. A single small asset valued at $35,000 or less can be paid to a successor without any affidavit once 60 days have passed (Va. Code Section 64.2-602). The affidavit reaches the personal probate estate; Virginia real estate passes directly to the heirs or devisees and is not collected this way. DocDraft builds your Virginia small estate affidavit from your facts, with attorney review available before you sign.
Key Things to Know
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A small estate affidavit is a sworn statement that lets a decedent's successors collect the decedent's personal property, such as a bank account, final wages, or securities, without qualifying a personal representative in Virginia.
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The affidavit is available only when the value of the decedent's entire personal probate estate as of the date of death, wherever located, does not exceed $75,000 (Va. Code Section 64.2-601).
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It may not be used until at least 60 days have elapsed since the decedent's death (Va. Code Section 64.2-601).
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The affidavit is made by all of the known successors and names a designated successor to receive the asset, and that designated successor has a fiduciary duty to safeguard and promptly pay or deliver the asset to the other successors (Va. Code Section 64.2-601).
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A single small asset valued at $35,000 or less may be paid or delivered to a successor without any affidavit once at least 60 days have elapsed since the death (Va. Code Section 64.2-602).
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The designated successor presents the affidavit to the person holding the small asset, such as a bank, a transfer agent, or a corporation, which then pays or delivers the asset; it is not filed with a court.
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The affidavit reaches the personal probate estate; Virginia real estate passes directly to the heirs or devisees at death and is not collected through this affidavit.
Key decisions before you file
Before you file a Small Estate Affidavit in Virginia, a few decisions shape the document: which option to choose and what each one means. The Small Estate Affidavit guide walks through them.
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Once your Small Estate Affidavit is ready, you can check whether it needs to be notarized in Virginia in about a minute, and notarize it online through DocDraft if it does.
Virginia Requirements for Small Estate Affidavit
In Virginia a small estate affidavit may not be used until at least 60 days have elapsed since the decedent's death (Va. Code Section 64.2-601). The affidavit states that this 60-day period has passed.
The affidavit is available only when the value of the decedent's entire personal probate estate as of the date of death, wherever located, does not exceed $75,000 (Va. Code Section 64.2-601). Only the personal probate estate counts.
The affidavit is made by all of the known successors of the decedent and names a designated successor to receive the small asset on behalf of all successors (Va. Code Section 64.2-601).
The designated successor has a fiduciary duty to safeguard and promptly pay or deliver the small asset to the other successors as required by Virginia law (Va. Code Section 64.2-601).
The affidavit reaches the personal probate estate. Virginia real estate passes directly to the heirs or devisees at death and is not collected through this affidavit (Va. Code Section 64.2-601).
A single small asset valued at $35,000 or less may be paid or delivered to a successor without any affidavit once at least 60 days have elapsed since the death (Va. Code Section 64.2-602).
A Virginia small estate affidavit is presented directly to the person or institution holding the small asset, such as a bank or transfer agent, rather than filed with a court (Va. Code Section 64.2-601).
A certified copy of the decedent's death certificate should accompany the affidavit, and the affiants state the basis for the claiming successor's entitlement to the asset (Va. Code Section 64.2-601). The affidavit is signed under oath.
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Check my Small Estate AffidavitFrequently Asked Questions
It is a sworn statement under the Virginia Small Estate Act that lets a decedent's successors collect personal property, such as a bank account, final wages, or securities, without qualifying a personal representative. Under Va. Code Section 64.2-601 the affidavit is made by all of the known successors, states that at least 60 days have passed since the death and that the personal probate estate does not exceed $75,000, and names a designated successor to receive the asset. The person holding the asset then pays or delivers it to that designated successor.
Probate in Virginia involves qualifying a personal representative before the clerk of the circuit court to administer the estate. A small estate affidavit avoids that qualification: under Va. Code Section 64.2-601 the known successors sign an affidavit and the holder pays the personal asset directly to the designated successor. The affidavit is available only when the personal probate estate is $75,000 or less and at least 60 days have elapsed since the death, so larger estates still require qualification.
The value of the decedent's entire personal probate estate as of the date of death, wherever located, must not exceed $75,000 (Va. Code Section 64.2-601). Only the personal probate estate counts, because Virginia real estate passes directly to the heirs or devisees. If the personal probate estate is above $75,000, the affidavit is not available and a personal representative generally must qualify to administer the estate in Virginia.
At least 60 days must have elapsed since the decedent's death before the affidavit may be used (Va. Code Section 64.2-601). The affidavit states that this 60-day period has passed. Separately, under Va. Code Section 64.2-602, a single small asset valued at $35,000 or less may be paid to a successor once 60 days have elapsed even without an affidavit, so the 60-day mark is the key date either way in Virginia.
No. The Virginia Small Estate Act affidavit under Va. Code Section 64.2-601 reaches the personal probate estate, such as bank accounts, wages, and securities. Virginia real estate is not collected by this affidavit because title to real property passes directly to the decedent's heirs or devisees at the moment of death. A Virginia estate that includes real property is handled through those succession rules or through probate, not through the small estate affidavit.
The affidavit is made by all of the known successors of the decedent (Va. Code Section 64.2-601). Among them, one or more are named as the designated successor to actually receive payment or delivery of the small asset on behalf of everyone. The designated successor has a fiduciary duty to safeguard the asset and promptly pay or deliver it to the other successors as Virginia law requires, so it is a position of trust, not just a convenience.
A Virginia small estate affidavit is presented directly to the person or institution holding the small asset, such as a bank, a transfer agent of a security, or a corporation, rather than filed with a court (Va. Code Section 64.2-601). On presentation, the holder pays or delivers the asset to the designated successor, and a transfer agent will change the registered ownership of a security to the designated successor. The designated successor may also endorse a check payable to the decedent or the estate.
The affidavit is sworn, and the designated successor takes on a fiduciary duty to safeguard and promptly distribute the asset to the other successors (Va. Code Section 64.2-601). Collecting an asset when the personal probate estate actually exceeds $75,000, before 60 days have passed, or without the agreement of all known successors can create personal liability. When the value is near $75,000 or the successors disagree, it is worth confirming the right approach in Virginia before signing.