How to Avoid Probate in Virginia

Non-probate transfers available in Virginia: (1) Transfer on death deed for real estate (Va. Code §§ 64.2-621 to 64.2-638). (2) Joint bank accounts belong to the surviving party, and P.O.D. accounts pass to the payee, under the multiple-party accounts law (Va. Code § 6.2-604 et seq., esp. § 6.2-608). (3) Transfer-on-death registration of securities in beneficiary form (Va. Code § 64.2-613 et seq.). (4) Transfer on death (TOD) beneficiary named on a vehicle title, who must apply within 120 days after the owner's death (Virginia DMV). (5) Vehicles titled to joint owners with right of survivorship ('or', 'or survivor', or 'tenants by the entirety') pass to the survivor. (6) Small estate affidavit (Va. Code §§ 64.2-600 to 64.2-602). (7) Revocable living trust (Uniform Trust Code).

Yes. If the decedent's entire personal probate estate is worth no more than $75,000, anyone holding a small asset (a bank, brokerage or credit union account, security, refund, tangible personal property, or debt owed to the decedent, but not real estate) must pay or deliver it to the designated successor who presents an affidavit signed by all known successors stating, among other things, that at least 60 days have passed since death, that no personal representative has been appointed or applied for, and that any will has been probated. The affidavit must be on the form prepared by the Office of the Executive Secretary of the Supreme Court of Virginia (Form CC-1685), and each signature is notarized; it is presented to the asset holder rather than filed in court. A holder may also pay a small asset worth $35,000 or less to a successor without an affidavit after 60 days if no personal representative has been appointed or applied for.

Yes. Virginia has adopted the Uniform Real Property Transfer on Death Act. A transfer on death deed must contain the essential elements and formalities of a recordable deed, state that the transfer occurs at the owner's death, be recorded before the owner's death in the land records of the circuit court clerk where the property is located, and meet the general recording requirements; if the property is owned jointly, all joint owners must sign. It requires the same capacity as a will, is revocable, and is exempt from recordation tax unless given for consideration. The beneficiary takes subject to existing mortgages and liens; divorce or annulment revokes a transfer to the former spouse unless the deed says otherwise. The statute includes optional forms for the deed and for revocation.