§ 64.1-151.4. Source, determination and documentation of family allowance, exempt property, and homestead allowan...
If the estate is otherwise sufficient, property specifically bequeathed or devised shall not be used to satisfy rights to exempt property and homestead allowance. Subject to this restriction, the surviving spouse or the guardian of the minor children may select property of the estate as exempt property and homestead allowance. The personal representative may make these selections if the surviving spouse or the guardian of the minor children is unable or fails to do so within a reasonable time, or if there is no guardian of the minor children. The personal representative may execute a deed of distribution to establish the ownership of property taken as homestead allowance or exempt property, which deed, if executed, shall: (i) describe the property with reasonable certainty, and (ii) state the value of each asset included therein. The personal representative may determine the family allowance in a lump sum not exceeding $18,000, or periodic installments not exceeding $1,500 per month for one year; and he may disburse funds of the estate in payment of the family allowance and any part of the exempt property or homestead allowance, payable in cash.
The personal representative or any interested person aggrieved by any selection, determination, payment, proposed payment or failure to act under this section may petition the circuit court for appropriate relief, which relief may provide a family allowance larger or smaller than that which the personal representative determined or could have determined. Such petition may be ex parte; provided, however, that the court in its discretion may require such notice to and the convening of interested parties as it may deem proper in each case.
(1981, c. 580; 1996, c. 549; 2001, c. 368.)
Sections: Previous 64.1-148 64.1-149 64.1-150 64.1-151 64.1-151.1 64.1-151.2 64.1-151.3 64.1-151.4 64.1-151.5 64.1-151.6 64.1-152 64.1-153 64.1-154 64.1-155 64.1-156 NextLast modified: April 3, 2009