Does A Will In Va Have To Be Registered At The Courthouse
Practice You Accept To Name a Virginia Resident as the Executor of Your Will?
A common question we receive from clients is whether he or she must proper noun a Virginia resident to serve as an executor of his or her will. While the Virginia Lawmaking used to prohibit the qualification of nonresident fiduciaries, the General Assembly has revised the statute as to who may qualify over the years. In 1997, the prohibition against nonresident fiduciaries was finer removed. This means not only can a nonresident of Virginia qualify as an executor, he or she may also qualify as a trustee, guardian, or conservator, as the statute applies to all types of fiduciaries.
Although the constabulary changed over twenty years ago, the rumor or belief that you should name a resident of Virginia persists. This is in part due to differing opinions of attorneys, considering the statute requires a lilliputian scrap more than from a nonresident. A nonresident fiduciary must (i) appoint a Virginia resident or the Clerk of Court to receive service of process on his or her behalf, and (ii) post a surety bond if (a) the estate exceeds the value of $25,000 and surety is therefore waived, or (b) a resident is non also appointed to serve simultaneously. See Va. Code § 64.2-1426. In nigh cases, in my feel, these two "requirements" are only small hurdles and should not be seen every bit obstacles.
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First, appointing a Virginia resident to receive service of procedure is specially like shooting fish in a barrel if your executor or trustee hires the Hook Law Heart, considering the firm volition regularly serve as a resident agent for our clients. But even if your executor or trustee does not hire Claw Law Center, he or she may appoint the clerk of the circuit courtroom. The purpose of this requirement is to ensure that if the fiduciary is e'er sued, the papers to exist served may be served upon the resident agent who will so obtain a re-create of the legal process for the fiduciary. The Virginia General Assembly wants to brand sure that if you are agreeing to exist appointed in the Democracy, you lot tin also be held accountable in a lawsuit filed in the Commonwealth. This is ane reason why appointing your ain resident agent is preferable to appointing the clerk of the court, and so that you accept some assurance as to the timely receipt of such papers.
Second, posting a surety bond for an manor which exceeds the value of $25,000 should also non be seen every bit an entirely negative thing. Although a surety bond comes at some cost for the premium, it protects the beneficiaries of the estate and is a relatively inexpensive cost to be able to engage the person whom you trust. To get around the surety requirement, some attorneys will recommend besides appointing a resident executor to serve simultaneously with the nonresident executor. Y'all should speak thoroughly with an attorney equally to the pros and cons before taking this arroyo. Oftentimes naming co-executors brings on a host of bug and issues that are far greater than the trouble they were intended to avoid. Unless the two persons named as co-executors are also the two merely beneficiaries nether the will, I will often not recommend this approach. But every case is different, and you can only come to the correct answer by discussing this with your attorney in detail.
In summary, in that location are a host of factors that go into the choice of an executor. Often the most important factor in naming an executor is choosing someone yous trust, but you should talk thoroughly with your estate planning attorney before making this decision. Practice not choose your executor solely considering he or she is a resident of Virginia.
Inquire Kit Kat – Endangered Pangolins
Claw Law Center: Kit Kat, what can you lot tell us virtually endangered pangolins who live in Southward Africa and Southeast Asia?
Kit Kat: Well, I must admit that I didn't even know what pangolins were until very recently. The pangolin is a mammal, which looks somewhat like an anteater, except that its scales resemble that of a pine cone. They are as well similar in colour to a pine cone. When threatened by creature or man, they ringlet up in a ball. Animals and so tend to exit them lonely, but poachers have an easy task to but pick them up and abscond with them. Though China forbids the sale of the mammals' meat, information technology is the largest consumer of pangolin scales. They are used in making medicines, though there is lilliputian verification that the medicines derived from their scales actually accept any pregnant medical bear on. Information technology's just tradition. 1 1000000 pangolins have been killed worldwide since 2000.
As of this moment, all 8 species of pangolins are endangered. Humane Society International (HSI) is working with organizations like African Pangolin Working Group and the Johannesburg Wildlife Veterinary Hospital to increase awareness of the problem and treat those pangolins who are rescued from poachers. This year 14 pangolins accept been rescued. There are also experimental efforts beingness undertaken to track the pangolins' whereabouts in the wild using satellite tags or telemetry tracking units, depending on the funding source. "The monitoring will ensure the highest hazard of survival post-release and significantly contribute to the scientific knowledge puddle of these elusive creatures," says Audrey Delsink, executive director of HIS Africa. (Michael Sharp, "Keeping scout over pangolins," All Animals, September/October 2018, p. viii)
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Does A Will In Va Have To Be Registered At The Courthouse,
Source: https://hooklawcenter.com/2018/10/12/do-you-have-to-name-a-virginia-resident-as-the-executor-of-your-will/
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