Who inherits the property of a person who dies intestate?
• First all assets pass to the surviving spouse, unless there are children (or their descendants) of someone other than with the surviving spouse, in which case, one-third passes to the surviving spouse and the remaining two-thirds is divided among all children. • If no surviving spouse, all assets pass to the children and their descendants. • If none, then all assets pass to the deceased’s father and mother, or the survivor. • If none, than all passes to the deceased’s brothers and sisters or their descendants. • There are further contingent beneficiaries set out in the Virginia statutes. (VA Code 64.1-1, as amended.) • Is the appointment of an executor or administrator and the formal administration of an estate always required? The appointment of an executor or administrator is not always required. No formal administration is usually required when the estate is small (under statutory amount) and for payment of small sums by certain government, occupational and banking agencies. Addit