                                 CODE OF VIRGINIA

WHEN FIDUCIARY MAY QUALIFY WITHOUT SECURITY; REQUIREMENTS FOR ISSUANCE OF
CERTIFICATES OF QUALIFICATION; PAYMENTS (§ 64.2-1411)

A. Any circuit court or circuit court clerk, having jurisdiction to appoint
personal representatives, guardians, conservators, and committees, may, in his
discretion, allow such fiduciary to qualify by giving bond without surety (i) in
the case of a guardian of a minor or conservator, when there are no assets or
the asset or amount coming into the possession of the guardian of a minor or
conservator does not exceed $25,000 or (ii) in the case of any other such
fiduciary, when there are no assets or the asset or amount coming into such
fiduciary&#8217;s possession does not exceed $35,000.

B. Any personal representative or trustee serving jointly with a bank or trust
company that is exempted from giving surety on its bond under &#xA7; 6.2-1003
shall, unless the court directs otherwise, also be exempt from giving surety.

C. If a fiduciary qualifies pursuant to subsection A, the court or clerk shall
issue one or more certificates of qualification pursuant to this section for
administration of an estate, guardianship, conservatorship, or committeeship
that does not exceed a cumulative total of the applicable amount prescribed by
subsection A. Each such certificate shall specify that the maximum amount of
estate, guardianship, conservatorship, or committeeship assets that may be
collected pursuant to that certificate shall not exceed the applicable amount
prescribed by subsection A. Each such certificate shall:

   1. Be titled &#8220;Qualification Certificate for Small Asset Estate&#8221;;

   2. State in a prominent position on the front of such certificate that any
   person may pay or deliver to the fiduciary named in the certificate any asset
   belonging, owed, or distributable to the specified deceased person,
   incapacitated ward, or minor having a value, on the date of payment or
   delivery, of no more than the applicable amount prescribed by subsection A.
   Assets held in a safe deposit box shall not be counted toward such applicable
   amount, and the lessor of a safe deposit box shall not be deemed to know of,
   and shall have no obligation to determine, the presence or value of any asset
   in a safe deposit box;

   3. State that the certificate (i) may only be used once, (ii) is not effective
   if it does not have an impression seal of the court clerk and therefore
   photocopies of the certificate are not effective, and (iii) must be retained
   by the payor; and

   4. Bear the impression seal of the court clerk.

D. Upon being presented with a certificate of qualification issued pursuant to
subsection C, any person may pay or deliver to the fiduciary named in such
certificate any asset belonging, owed, or distributable to the specified
deceased person, incapacitated ward, or minor having a value, on the date of
payment, of no more than the applicable amount prescribed by subsection A. The
payor shall retain possession of such certificate. Assets held in a safe deposit
box shall not be counted toward such applicable amount, and the lessor of a safe
deposit box shall not be deemed to know of, and shall have no obligation to
determine, the presence or value of any asset in a safe deposit box. Any person
that makes such payment or delivery upon presentation of a certificate of
qualification issued pursuant to subsection C is discharged and released from
any or all claims or liabilities for such payment or delivery. Such payor is not
required to see the application of such payment or delivery or to inquire into
the assets paid or delivered by other parties to a fiduciary that qualifies
pursuant to subsection A. A person presented with a certificate of qualification
issued pursuant to subsection C shall not be liable for, or subject to, any
claims, damages, fines or penalties for paying or distributing assets the person
believed in good faith to have a value of such applicable amount or less or for
the failure to pay or deliver assets the person believed in good faith to have a
value of more than such applicable amount.

E. A court clerk shall not be liable for any misrepresentations of a personal
representative, guardian, conservator, or committee with regard to whether the
estate qualifies for the small asset estate exemption under this section or for
the performance of any of the clerk&#8217;s duties under this section, except in
the case of the clerk&#8217;s gross negligence or intentional misconduct.

HISTORY: 1918, p. 469; 1934, p. 24; Michie Code 1942, § 5371a; 1946, p. 492;
Code 1950, § 26-4; 1964, c. 172; 1976, c. 338; 1980, c. 653; 1994, c. 25; 1997,
c. 801; 1998, c. 117; 2003, c. 195; 2012, c. 614; 2014, c. 532; 2015, c. 610;
2018, c. 575; 2025, c. 148.