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30 July
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The Unglamorous, Yet Vitally Important Role of a Personal Representative

Posted by Bobby Feisee
in Bobby's Blog

The Wall Street Journal (WSJ) recently published an article[i] detailing the oftentimes “messy, thankless job of an estate executor.”[ii] The article is an important reminder of why proper estate planning is so important to protect both your hard-earned assets and the peace of mind of your loved ones. It highlighted multiple examples of all-too-common situations where a personal representative is forced to devote countless unnecessary hours to organizing and administering a deceased loved one’s estate. To make things even more difficult, in many instances, the individuals who ultimately agree to take on the role were not asked or consulted by their loved one prior to their passing. “It happens all the time,” said an estate lawyer practicing in Austin, Texas, according to the WSJ article. “Mom and Dad come in and don’t want to name one of the kids, so they appoint brother Bob, and he goes, ‘Huh?’” Understanding the Role of...

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02 November
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You Were Named the Executor or Administrator of an Estate – What To Expect

Posted by Bobby Feisee
in Bobby's Blog, News

When someone is designated as a personal representative for an estate, their mind is often inundated with questions and concerns about what they are legally obligated to do. In many instances, personal representatives are named an Executor/Executrix or an Administrator/Administratrix. Similarities and Differences between an Administrator and an Executor You may be wondering, "What is different from being named an Administrator versus an Executor?" Well, an Administrator is the individual appointed by a court to oversee an estate when someone passes away without a Last Will and Testament. In contrast, an Executor is the individual named by a decedent in their estate plan to oversee the administration of their estate, including the distribution of assets and management of any outstanding liabilities. Despite these differences, there are a number of similarities between Executors and Administrators. For example, both Executors and Administrators are subject to the jurisdiction of a probate court. Both Executors and Administrators...

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22 October
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Administering a Small Estate in Virginia – Important Info You Need to Know

Posted by Bobby Feisee
in Bobby's Blog

Virginia has a set of unique rules that allows you to avoid probate if an estate is comprised of “small” assets (defined as assets totaling under $50,000). According to VA Code § 64.2-601, when the total estate does not exceed $50,000, a successor in interest, usually an heir-at-law or a beneficiary of the Will, can collect and distribute the assets without having to go through the full probate process. If there is a Last Will and Testament, it must be admitted to probate, but there is no requirement that an executor or personal representative be appointed, according to the Virginia Academy of Elder Law Attorneys.  This is known as “recording” a Will. To claim assets without being appointed executor or personal representative, the person collecting the assets must provide an affidavit signed by all the lawful successors in interest (usually the heirs-at-law or the beneficiaries under the Will) stating the following: The total estate,...

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20 August
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Estate Planning News Alert: Influential Commission Working to Grant Loved Ones Access to Decedent’s Online Accounts

Posted by Bobby Feisee
in Current Events

The Uniform Law Commission, a group of influential lawyers appointed by state governments to help standardize state laws, endorsed a plan to give loved ones access to, but not total control of, all digital accounts of a decedent, unless otherwise specified in the decedent’s will. As we’ve ventured into the digital age, virtually everyone has vital information and profiles saved and published online. When someone suddenly passes away, it can be a huge hassle to gain access to their online accounts to either shut them down or retrieve important information like account numbers and/or passwords. Also, a decedent’s postings, photos and videos can have financial value. For example, think of the digital files being amassed by someone of historical value, such as Bill Gates or Hillary Clinton. Those files would have significant monetary value. So here is how the proposed law would work: the personal representative of the decedent would...

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15 April
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Digital Assets Bill Passes Through Virginia Legislature

Posted by Bobby Feisee
in Bobby's Blog

It’s a thought no parent wants to contemplate – losing a child. Nevertheless, if this unfortunate and tragic incident occurs, you need to pick up the pieces and try to get your child’s estate in order. Fortunately, the Virginia Legislature took a step to make the process a little easier with the passage of HB 1752. This law affords parents of deceased minors access to their social media accounts. The law enables a personal representative of a deceased minor to assume the deceased minor's terms of service agreement for a digital account with an Internet service provider, communications service provider, or other online account service provider for the purposes of consenting to and obtaining the disclosure of the deceased minor's communications and subscriber records, according to the Virginia Legislative Information System. The digital provider is obligated to provide access to the personal representative within 60 days from the receipt of a...

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