Required

Components of Fairfax Wills Administration  

Will administration is a complicated and sometimes emotionally fraught process. An experienced wills lawyer could be an invaluable asset during this process. The attorney could answer questions you may have regarding the various components of Fairfax wills administration. Read on to learn more about the different elements of wills administration and seek the services of a skilled attorney that could answer any questions you may have about the will administration process.

Attestation Clauses

An attestation clause is essentially a provision in a will that the testator in signing their name to, and attesting that they understand that the document is their last will and testament and that they fully have the capacity to create a will when they signed the will.

Abatement

Abatement is the reduction or complete negation of a bequest in a last will and testament due to a reduction in the overall value of an estate, often unexpected.

Beneficiary

A beneficiary can be either an heir or a legatee but the beneficiary ultimately is a person who will receive assets from a decedent’s estate.

Codicils

A codicil is an amendment to a will. Codicils are often used for simple changes to a testator’s document. For example, if a testator wants to replace the individual they named to serve as executor. Because multiple codicils to a last will and testament can become confusing, many attorneys often revise and have the testator resign a new will when the desired changes are more complicated.

Decedent

The decedent is the person who ultimately has died. If a testator, the person who creates the will eventually dies, the testator is the decedent.

Default Intestacy Laws

The default intestacy laws essentially provide for the distribution of assets at the person’s death meaning that the person has died without a will. For example, if a person dies without a will or dies without a valid will then the heirs of that person’s estate would be the beneficiaries. Heirs of an estate are determined by who the individual is survived by. For example, if a person dies and they are then all of that person’s assets would go to the spouse. If that person is married and the decedent and the decedent’s spouse have children together and only have children together of their marriage then the spouse still gets all of the decedent’s assets.

That rule is slightly different if the decedent has children from a different relationship and the distribution again would be different. The surviving spouse would get one-third of the decedent’s asset and the decedent’s children of the prior relationship would share the remaining two-thirds of the estate. If there is no spouse and there are no children then the assets would be distributed to the parents. If there are no parents, they would be distributed to brothers and sisters and if there are no brothers and sisters, the assets would be distributed to the nieces and nephews, and of course it goes further down the line if there are no nieces and nephews.

Dying Intestate

Dying intestate means that a person had died without a valid last will and testament. It is possible that a person has attempted to have a last will and testament but it does not meet the legal requirement for a valid last will and testament in Virginia. Even in that case, where a person has attempted to create a will, if it is not validly executed or if it is not valid for another reason then that person will most likely be deemed to have died intestate.

Grantor

The grantor is an individual who is creating a trust for his or her own assets. A grantor can also be referred to as a settlor.

Heir

An heir is a person that is legally entitled to a person’s asset in an intestate estate. Virginia Code §64.2-200, et al, provides the class of individuals that are entitled to distribution of a person’s estate when they die without a will. For example, if a person dies, and is survived by their spouse, but no children or grandchildren, then the decedent’s spouse would be the sole heir of the estate.

Holographic Wills

A holographic will is a will that is entirely handwritten by the testator’s own hand. Virginia Code §64.2-403(B) states that a holographic will is valid if it is written entirely in the testator’s own hand and is proved by two disinterested witnesses. Virginia Code §64.2-403(C) goes on to state that a Will not solely in the testator’s handwriting, is not valid unless it is signed before two disinterested witnesses, who also sign the will.

Intestacy

Intestacy laws are default laws to provide for the administration of one’s estate after death if there was no valid last will and testament created prior to death. The laws of intestacy mandate how the decedent’s assets will be distributed, and what individual or individuals have priority to serve as executor.

Testator

A testator is a person whose wishes are expressed in a last will and testament. To complete a valid will, a testator must be over the age of 18, be of sound mind, and sign the will freely and willingly.