Q&A

How long do you have to settle an estate in West Virginia?

How long do you have to settle an estate in West Virginia?

Generally, you must close the estate within 5 years of starting the probate process. W. Va. Code § 44-4-14a.

How long do you have to file probate in WV?

An inventory (called an Appraisement) of the estate’s assets must be filed with the court listing the estate’s assets within 90 days of the appointment of the executor. Once all of the creditors and taxes have been paid, a Petition to close the probate must be filed with the Clerk.

How much does probate cost in WV?

5.0% for the first $100,000 in assets; 4.0% for the next $300,000 in assets, up to $400,000; 3.0% for the next $400,000 in assets, up to $800,000; and. 2.0% for any estate assets in excess of $800,000.

What happens when someone dies without a will in West Virginia?

If you die without a will in West Virginia, your children will receive an “intestate share” of your property. The size of each child’s share depends on how many children you have, whether or not you are married, and whether you or your spouse have children from another relationship.

How are intestate estates determined in West Virginia?

West Virginia inheritance laws label these types of estates “intestate,” which means there is no will or, perhaps because of improper or incomplete preparation, no valid will. The court then follows intestate succession laws to determine who inherits your property and how much of it they get.

How does a short form settlement work in West Virginia?

West Virginia law allows you to do this in one of two ways: If you have the consent of all the estate’s “residuary” beneficiaries — those who didn’t receive a specific item of property but rather shared in the balance of the estate — you can ask them to sign an agreement for a short form settlement.

When to file estate appraisement in West Virginia?

However, since West Virginia law recognizes self-proving affidavits, their testimony isn’t necessary if the witnesses signed an affidavit at the time the deceased signed his will. One of the executor’s first tasks under West Virginia law is to complete and file Estate Appraisement and Inventory forms within 90 days of taking office.

When to use simplified probate in West Virginia?

West Virginia offers a simplified probate process for smaller estates. An estate qualifies as a smaller estate as long as the value of the estate, except for real estate, is $100,000 or less. You can also use the simplified probate process if the personal representative or surviving spouse is the only beneficiary of the estate.

West Virginia law allows you to do this in one of two ways: If you have the consent of all the estate’s “residuary” beneficiaries — those who didn’t receive a specific item of property but rather shared in the balance of the estate — you can ask them to sign an agreement for a short form settlement.

West Virginia inheritance laws label these types of estates “intestate,” which means there is no will or, perhaps because of improper or incomplete preparation, no valid will. The court then follows intestate succession laws to determine who inherits your property and how much of it they get.

Can a will be settled in West Virginia?

Yes, the settling of an estate—whether under the terms of a will or under default intestate rules—must occur according to West Virginia law. In most cases, the deceased person’s final wishes are stated in a will document with named heirs, transfers and assets.

West Virginia offers a simplified probate process for smaller estates. An estate qualifies as a smaller estate as long as the value of the estate, except for real estate, is $100,000 or less. You can also use the simplified probate process if the personal representative or surviving spouse is the only beneficiary of the estate.