What does estate planning cover in Virginia?

Generally, who receives property at death and how — by will (Va. Code § 64.2-403), by trust (Va. Code § 64.2-719), by beneficiary designation or by survivorship — together with who manages money and health care decisions during incapacity, through a power of attorney (Va. Code § 64.2-1612) and an advance directive (Va. Code § 54.1-2983). In Virginia only licensed attorneys and law firms may advertise to prepare wills (Va. Code § 64.2-402); this page explains the statutes and prepares no document.

What happens in Virginia if there is no plan?

Property not effectively disposed of by will passes by intestate succession — to the surviving spouse, unless the decedent has children or descendants not also the spouse's, who then share two-thirds (Va. Code § 64.2-200) — the personal estate following the same course (Va. Code § 64.2-201).

Does Virginia have an estate tax?

Virginia imposes no estate tax on the estate of a decedent who died on or after July 1, 2007 (Va. Code § 58.1-902). A probate tax applies to an estate probated in the circuit court above $15,000 (Va. Code § 58.1-1712).

Virginia Estate Planning: Wills, Trusts, Probate, Protection

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The building blocks of a Virginia estate plan

A Virginia will

A will directs who receives your property and names a personal representative, but it generally must pass through Virginia probate to take effect. It can also name guardians for minor children.

A revocable living Trust

A revocable living Trust holds your assets during life and passes them to your beneficiaries at death — generally outside probate — while you keep full control and can change it anytime. It is an administration and probate-avoidance tool, not asset protection.

Probate

Probate is the court process that settles a decedent's estate — admitting the will, paying creditors, and distributing what remains. In Virginia the circuit court or its clerk qualifies the executor or administrator, who returns the inventory to the Commissioner of Accounts within four months (Va. Code § 64.2-1300(A)) and may publish a notice to creditors (Va. Code § 64.2-508.1); a small asset may be collected by affidavit (Va. Code § 64.2-601), and many plans aim to reduce or avoid probate.

Asset protection

Virginia protects some property by statute — the householder's exemption, retirement plans and life insurance (Va. Code § 34-4; Va. Code § 34-34; Va. Code § 38.2-3122) — but each depends on facts, timing and titling, and a revocable Trust does not by itself shield assets from creditors (Va. Code § 64.2-747). This is an area to review with a Virginia attorney.

Powers of attorney & advance directives

A complete plan usually also includes a power of attorney for finances and an advance directive for health care (Va. Code § 64.2-1612; Va. Code § 54.1-2983) — so someone you trust can act for you if you cannot, rather than a guardian or conservator the circuit court appoints.

Which plan is right in Virginia?

There is no single best plan for everyone — the right mix of will, Trust, and directives depends on your assets, your family, and your goals. This page is general information, not legal advice. A free role check can show you where you stand, and a Virginia attorney can recommend what fits your situation.

General information about Virginia law, not legal advice.

Frequently asked questions

What does estate planning cover in Virginia?: Generally, who receives property at death and how — by will (Va. Code § 64.2-403), by trust (Va. Code § 64.2-719), by beneficiary designation or by survivorship — together with who manages money and health care decisions during incapacity, through a power of attorney (Va. Code § 64.2-1612) and an advance directive (Va. Code § 54.1-2983). In Virginia only licensed attorneys and law firms may advertise to prepare wills (Va. Code § 64.2-402); this page explains the statutes and prepares no document.
What happens in Virginia if there is no plan?: Property not effectively disposed of by will passes by intestate succession — to the surviving spouse, unless the decedent has children or descendants not also the spouse's, who then share two-thirds (Va. Code § 64.2-200) — the personal estate following the same course (Va. Code § 64.2-201).
Does Virginia have an estate tax?: Virginia imposes no estate tax on the estate of a decedent who died on or after July 1, 2007 (Va. Code § 58.1-902). A probate tax applies to an estate probated in the circuit court above $15,000 (Va. Code § 58.1-1712).