§ 64.2-2026 Surrender of incapacitated person’s estate
A. If the incapacitated person is restored to capacity, the fiduciary shall surrender the incapacitated person’s estate or that portion for which he is accountable to the incapacitated person.
B. If the incapacitated person dies prior to being restored to capacity, the fiduciary shall surrender the real estate to the incapacitated person’s heirs or devisees and the personal estate to his executors or administrators. If, at the time of the death of the incapacitated person, (i) the value of the personal estate in the custody of the fiduciary is $35,000 or less, (ii) a personal representative has not qualified within 60 days of the incapacitated person’s death, and (iii) the fiduciary does not anticipate that anyone will qualify, the fiduciary may pay the balance of the incapacitated person’s estate to the incapacitated person’s surviving spouse or, if there is no surviving spouse, to the distributees of the incapacitated person or other persons entitled thereto, including any person or entity entitled to payment for funeral or burial services provided. The distribution shall be noted in the fiduciary’s final accounting submitted to the commissioner of accounts.
History
The record of this law’s original creation isn’t available online. It has been modified 8 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1968, chapter 477; in 1995, chapter 344; in 1997, chapter 921; in 2003, chapter 195; in 2005, chapter 716; in 2012, chapter 614; in 2014, chapter 532; in 2025, chapter 148.
Code 1950, § 37-151; 1968, c. 477, § 37.1-144; 1995, c. 344; 1997, c. 921; 2003, c. 195; 2005, c. 716, § 37.2-1027; 2012, c. 614; 2014, c. 532; 2025, c. 148.