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Creditors' Claims
Filing of Creditors' Claims

Virginia Estate Law - Creditors' Claims

Filing of Creditors' Claims
Debts & Demands Hearing

The Commissioner's Report

 

Virginia law provides a procedure for creditors of a decedent's estate to file their claims with the Commissioner of Accounts.

This procedure provides an efficient means for creditors to prove their claims against the estate and for personal representatives to dispute such claims, if they believe them to be invalid or unenforceable. As discussed later in this Chapter, if requested, the Commissioner will conduct a hearing regarding disputed creditor claims.

Virginia law provides that any person desiring to prove any debt or demand against the estate shall file his claim or a written statement thereof with the Commissioner of Accounts. There is filing fee under the uniform Commissioners of Accounts fee schedule of $25 for each claim filed.

This procedure is directed at creditor claims and demands and does not require the filing of claims by beneficiaries or heirs of the estate regarding their share of the estate.

The Commissioner notes on claims filed with his or her office the date and time of filing of such claims. The period of time between the date and time of filing of claims and the date and time of the debts and demands hearing (discussed in a later section) is not counted as part of the time within which the claim must be filed under the applicable statute of limitation for filing suit on the claim.

A personal representative of a decedent's estate has the duty to pay debts of the decedent. Normally, if the debt is not disputed by the personal representative and if there are sufficient estate assets to pay all debts and obligations of the estate, the personal representative will pay or otherwise settle or resolve the debt and the matter will be done.

If, however, the personal representative disputes the claim, and the issue cannot be resolved between the personal representative and the creditor, a hearing to resolve the dispute can be requested.

The Commissioner of Accounts will normally require that creditor claims filed with his or her office be resolved by payment or settlement before approving the final fiduciary accounting of the personal representative.

Debts & Demands Hearing >>>

   
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