When is an estate considered closed?

In the state of Virginia, an estate is considered closed once the court in charge of the probate process approves the distributions of an estate’s assets to all of the listed beneficiaries. The probate process begins when someone passes away and an executor is named by the court. This executor is then responsible for getting the deceased’s assets in order, meaning they have to make sure debts such as taxes are paid and all final bills are taken care of. Once these tasks are completed, the executor must put together and file a final account showing the estate’s assets and liabilities. The final account must also include a final distributive scheme outlining how the estate’s assets will be distributed among the beneficiaries. The court then reviews this document and if they approve it, the estate is considered closed. This means that the executor has successfully completed their duties to the court and the estate is ready to be split among its beneficiaries. One thing to note however is that some estates may have more than one executor, meaning each executor must complete their duties before the estate can be considered closed. Additionally, if the court requests additional paperwork or documents, the executors must provide it before the estate is officially closed.

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