When a person who passes away lives in another state but owned assets in Virginia, ancillary administration may be needed to wind down the individual’s estate and ensure the proper distribution of assets. Ancillary administration in Virginia Beach may also be required when the decedent was a resident of Virginia but owned property out-of-state.
If you are navigating this process after the death of a loved one, working with an experienced estate administration attorney is essential to smoothly discharge ancillary administration and avoid undue legal hurdles. A lawyer can also provide proactive estate planning assistance for assets in multiple states to ensure they properly pass ownership to your loved ones in the future with minimal legal hurdles.
The Ancillary Administration Process
While there are many potential estate planning options available to you, it is wise to speak with an attorney. A lawyer can determine what route will be most effective to minimize or eliminate the headache associated with ancillary administration in Virginia Beach.
Ancillary probate occurs when someone owns property in a state that differs from their primary residence, and that property cannot be transferred through other legal means. Probate can be a lengthy process no matter what state it happens in, lasting on average anywhere from six months to a few years.
If you do not have a well-thought-out estate plan in place, your out-of-state assets may be forced to go through ancillary probate. During ancillary probate, a personal representative is appointed to oversee the administration process.
This individual is responsible for numerous tasks, including taking a detailed inventory of assets subject to ancillary probate and ensuring that these assets are properly valued. An attorney can provide legal counsel to someone navigating the complexities of ancillary probate while availing the best strategies to help the case run smoothly.
Understanding Ancillary Administration, Probate, and Ways to Avoid It
Whether you own multiple homes, cars, or other forms of property in different states, your estate may be administered through ancillary probate when you pass away unless you put certain arrangements in place. For example, if you own property in Virginia Beach but maintain your formal residence out-of-state, or vice versa, your assets could be subject to ancillary administration.
Numerous factors can affect the duration of probate, including disagreements among heirs or beneficiaries and the degree of estate planning the decedent completed before their death. Joint ownership arrangements, transfer-on-death deeds, and Revocable Living Trusts are just a few possible legal tools that can be used when you own assets in multiple states but want to avoid them going through ancillary probate in the future.
For example, if you own property through joint tenancy with the right of survivorship, that property will pass to the other owner automatically when you pass away. Depending on the states where your assets are located, a transfer-on-death-deed can be used to ensure the person you name automatically receives ownership of the real estate upon your death. You can also avoid all forms of probate, including ancillary probate, by placing assets in a Trust during your lifetime.
An Attorney Can Answer Your Questions About Ancillary Administration in Virginia Beach
An attorney can help administrators and beneficiaries dealing with ancillary administration in Virginia Beach, as well as individuals who want to establish an estate plan that can avoid this consequence altogether. Utilizing the right estate planning tools can significantly minimize legal hurdles for your family members after your death and ensure your assets are distributed the way you wish.
Sometimes, it may be possible to bypass probate altogether. Call Parks Zeigler today to schedule a free consultation and discuss your best legal options.
