§ 37.2-1027. Surrender of incapacitated person's estate
The fiduciary shall surrender the incapacitated person's estate or that portion for which he is accountable to the incapacitated person, if the incapacitated person is restored to capacity.
If the incapacitated person dies prior to the restoration, the fiduciary shall surrender the real estate to the incapacitated person's heirs or devisees and the personal estate to his executors or administrators. If, upon the death of the incapacitated person, (i) the value of the personal estate in the custody of the fiduciary is $15,000 or less, (ii) a personal representative has not qualified within 60 days of the incapacitated person's death, and (iii) the fiduciary does not anticipate that anyone will qualify, the fiduciary may pay the balance of the incapacitated person's estate to the incapacitated person's surviving spouse or, if there is no surviving spouse, to the distributees of the incapacitated person or other persons entitled thereto, including any person or entity entitled to payment for funeral or burial services provided. The distribution shall be noted in the fiduciary's final accounting submitted to the Commissioner of Accounts.
(Code 1950, § 37-151; 1968, c. 477, § 37.1-144; 1995, c. 344; 1997, c. 921; 2003, c. 195; 2005, c. 716.)
Sections: Previous 37.2-1015 37.2-1016 37.2-1017 37.2-1018 37.2-1019 37.2-1020 37.2-1021 37.2-1022 37.2-1023 37.2-1024 37.2-1025 37.2-1026 37.2-1027 37.2-1028 37.2-1029 NextLast modified: April 3, 2009