What Is the Estate's Personal Property Worth for Probate in Virginia?
Estimate the fair market value of household items for the Virginia estate inventory — what furniture, electronics, and appliances would sell for today, not what was paid.
Personal property in Virginia is valued at fair market value: what the item would sell for on the open market as of the date of death, not what it cost. Most household goods (furniture, electronics, clothing) resell for a small fraction of their purchase price. Art, collectibles, jewelry and other high-value items are valued by a professional appraisal. Virginia lets the executor value most property without a formal appraisalVa. Code § 64.2-1300Verified Sep 15, 2026View source, though a valuable item still warrants a qualified appraiser.
No. An executor in Virginia can group low-value household goods into a single inventory line, such as "household furnishings and personal effects", while jewelry, art, vehicles and collectibles are listed individually. Each value is fair market value as of the date of death.
In Virginia, the executor files the estate inventory within 120 daysVa. Code § 64.2-1300Verified Sep 15, 2026View source of appointment. Virginia requires a supplemental inventory for assets discovered laterVa. Code § 64.2-1300Verified Sep 15, 2026View source.
In Virginia, estates with personal property of $75,000Va. Code § 64.2-600Verified Sep 9, 2026View source or less skip probate with the Small Estate AffidavitVa. Code § 64.2-600Verified Sep 9, 2026View source, 60 daysVa. Code § 64.2-600Verified Sep 9, 2026View source after death. The test is the value of the personal property, so an inventory at fair market value is what decides eligibility.
High-value items such as art, antiques, jewelry and collectibles are appraised by a qualified professional, while ordinary household items (furniture, electronics, appliances, clothing) are valued from comparable sales. Virginia lets the executor value most property without a formal appraisalVa. Code § 64.2-1300Verified Sep 15, 2026View source, though a valuable item still warrants a qualified appraiser.
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Forms for Settling an Estate in Virginia
Free forms for settling an estate in Virginia: the probate petition, small estate affidavit, notice to creditors, inventory, and closing forms.
Petition for Probate and Letters
In Virginia, the petition asks the Circuit Court to appoint the personal representative, whose authority is proved by Certificate of Qualification; every appointment goes through the court.
Notice to Creditors
In Virginia, creditors have 6 monthsVa. Code §§ 64.2-554, 64.2-556(A) (six months from qualification before distribution may be compelled or ordered over creditors), 64.2-508.1(C)(4) (elective published notice: claims due at least six months from first publication); § 64.2-529 (separate 12-month personal-liability shield for the personal representative); § 64.2-550 (debts-and-demands hearing before the commissioner of accounts)Verified Sep 9, 2026View source from first publication to present claims.
Renunciation of Executor
In Virginia, a person named as executor may refuse the appointmentForm CC-1608, Waiver of Qualification (MASTER 11/16); Va. Code § 64.2-500(A)Verified Sep 23, 2026View source before anyone is appointed.
Small Estate Affidavit
In Virginia, the Small Estate AffidavitVa. Code § 64.2-600Verified Sep 9, 2026View source covers estates with personal property of $75,000Va. Code § 64.2-600Verified Sep 9, 2026View source or less, 60 daysVa. Code § 64.2-600Verified Sep 9, 2026View source after death, presented directly to the bank or other holder, not filed with a court.
Estate Inventory
In Virginia, the personal representative files the estate inventory within 120 daysVa. Code § 64.2-1300Verified Sep 15, 2026View source of appointment.
Estate Closing
In Virginia, the personal representative is discharged automatically once the statutory period runsVa. Code §§ 64.2-1212, 64.2-1213Verified Sep 15, 2026View source, and a final accounting is required unless it is waived.
Tools for Settling an Estate in Virginia
Free tools for settling an estate in Virginia: whether probate is needed, executor and trustee pay, creditor deadlines, and inheritance taxes.
How Much Can an Executor Charge?
Virginia pays executors reasonable compensationVa. Code § 64.2-1208(A) (commissioner of accounts allows reasonable compensation; no statutory percentage)Verified Sep 9, 2026View source, typically 2.2%Estimated from the 16 state statutes that set an executor fee schedule (median and interquartile range at this estate value)Verified Sep 9, 2026View source to 3.8%Estimated from the 16 state statutes that set an executor fee schedule (median and interquartile range at this estate value)Verified Sep 9, 2026View source of the estate.
Can I Self-File Probate?
In Virginia, informal probate is not available, so self-filing means a formal court petition rather than a registrar filing.
How Do I Get Appointed as Executor?
In Virginia, the Circuit Court appoints the personal representative and the Clerk of the Circuit Court issues Certificate of Qualification; every appointment goes through the court.
What Are the Creditor Claim Deadlines?
In Virginia, the 6 monthsVa. Code §§ 64.2-554, 64.2-556(A) (six months from qualification before distribution may be compelled or ordered over creditors), 64.2-508.1(C)(4) (elective published notice: claims due at least six months from first publication); § 64.2-529 (separate 12-month personal-liability shield for the personal representative); § 64.2-550 (debts-and-demands hearing before the commissioner of accounts)Verified Sep 9, 2026View source period after first publication of the creditor notice protects a representative who distributes after it; late claims can still reach undistributed assets.
What Happens When an Estate Is Insolvent?
When an estate owes more than it holds, Virginia pays the claims in 10Va. Code § 64.2-528Verified Sep 23, 2026View source classes in statutory order, beginning with costs and expenses of administration.
How Do I Open an Estate Account When Someone Dies?
Compare estate-account opening requirements bank by bank: channels, required documents, and steps.
How Much Does Probate Cost?
Probate on a $500,000 estate in Virginia costs an estimated $29,411Va. Code §§ 64.2-105(B)(12) (fiduciary employs and compensates counsel), 64.2-1208(A) (commissioner of accounts allows reasonable expenses; no statutory percentage)Verified Sep 9, 2026View source. Attorney fees run 2.5%Va. Code §§ 64.2-105(B)(12) (fiduciary employs and compensates counsel), 64.2-1208(A) (commissioner of accounts allows reasonable expenses; no statutory percentage)Verified Sep 9, 2026View source to 3.9%Va. Code §§ 64.2-105(B)(12) (fiduciary employs and compensates counsel), 64.2-1208(A) (commissioner of accounts allows reasonable expenses; no statutory percentage)Verified Sep 9, 2026View source of the estate under a reasonable-compensation standard.
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Virginia Estate Settlement Resources
In-depth guides covering Virginia probate, estate administration, and settling an estate.