                                 CODE OF VIRGINIA

REPORT TO CIRCUIT COURT; DEATH OF FIDUCIARY; FIDUCIARY FOR RECIPIENT OF FEDERAL
BENEFITS (§ 64.2-1312)

A. The commissioner of accounts shall state, settle, and report to the circuit
court an account of the transactions of a fiduciary, as provided by law. Every
fiduciary shall also, at the request of the commissioner of accounts, exhibit
(i) the securities held by the fiduciary together with a statement from every
bank in which cash is held at the terminal date of the account and (ii) proof
that all premiums due upon any required surety bond have been paid.

B. If a personal representative of a decedent&#8217;s estate, a testamentary
trustee, a guardian, a conservator, or a committee dies prior to the filing and
settlement of the fiduciary&#8217;s account, the personal representative of the
fiduciary&#8217;s estate shall have the obligation to make the requisite filing
and settlement through the date of death unless any successor fiduciary makes
the requisite filing.

C. For fiduciaries acting on behalf of a recipient of social security,
supplemental security income, or veteran&#8217;s or other federal benefits, no
accounting to the commissioner of accounts shall be required of benefits paid to
a designated representative on behalf of the recipient if the representative is
otherwise required to account for such benefits. However, any fiduciary
otherwise required to make an accounting to the commissioner of accounts shall
disclose in the account the total amount of such benefits received during the
accounting period for which no incremental fee for such benefits shall be
charged by the commissioner of accounts.

HISTORY: 1993, c. 689, § 26-17.10; 1997, c. 801; 1999, c. 108; 2000, c. 324;
2012, c. 614.