- If a person dies in Virginia without a will, their bank accounts, like all other assets, will be distributed according to Virginia's laws of intestate succession. 

- In addition, assets with a named beneficiary or co-owner, like a joint account, will bypass probate and go directly to that person. 

- If a person dies in Virginia without a will (intestate), their bank accounts become part of the estate. They are frozen until a court appoints an administrator to manage the assets.

• Accounts are frozen: When a bank is notified of the account holder's death, the account is frozen, and no one can access the money directly.
• Court-appointed administrator
• The administrator pays the debts
• Assets distributed by law

Accounts with a named beneficiary or joint owner:

• Joint bank account: If the deceased had a joint bank account, the funds automatically become the property of the surviving account holder, regardless of intestacy laws. The survivor needs to provide the bank with the death certificate to have the account transferred into their name.
• Payable-on-Death (POD) account: If the deceased designated a Payable-on-Death (POD) beneficiary for their bank account, the funds will be transferred to that named individual without going through probate. The beneficiary must contact the bank and provide a death certificate and identification. 

Accounts without a named beneficiary or joint owner:

If the bank account is solely in the deceased's name with no POD beneficiary, it becomes part of the probate estate. Since there is no will, a court-supervised process is necessary to distribute the assets. 

The Probate Process:

1. Appointment of an administrator: A surviving spouse or next of kin must petition the court to be appointed as the estate's administrator. Until this happens, the account will be frozen, and no one will have legal access to the funds.
2. Asset collection: The administrator is responsible for collecting and valuing all of the deceased's assets, including the bank account.
3. Debt and tax payments: Before distributing assets, the administrator must pay any outstanding debts and taxes from the estate. Creditors have a limited time to file claims.
4. Distribution to heirs: The remaining assets are distributed to heirs according to Virginia's intestate succession laws.  

Virginia's intestate succession rules for solely owned accounts
The division of the bank account funds will follow this order: 

• Surviving spouse and children (all with the spouse): The surviving spouse inherits the entire amount.
• Surviving spouse and children (some not with the spouse): The spouse inherits one-third, and the children share the remaining two-thirds.
• Children but no spouse: The children inherit the entire amount in equal shares.
• No spouse or children: The assets pass to the deceased's parents.
• No spouse, children, or parents: The assets pass to the deceased's siblings. 

Small Estate Affidavit:
If the total value of the deceased's personal assets in Virginia is less than $50,000, heirs may be able to use a Small Estate Affidavit to access the bank account without going through a full probate process. 

• At least 60 days must have passed since the death, and no one has applied to become the personal representative.
• The affidavit, once completed and notarized, can be presented directly to the bank. 

https://pjilaw.com/probating-a-will-in-virginia/

What Is a Probate Attorney? 

https://www.inheritancefunding.com/resources/what-is-a-probate-attorney/

Testate Estates (person died with a will):

https://www.loudoun.gov/2145/Testate-Estates-person-died-with-a-will

Intestate Estates (died without a will):

https://www.loudoun.gov/2149/Intestate-Estates-died-without-a-will

Note: 

For legal advice, consult a professional.  Learn what debts take priority for an estate in Virginia?  These details are educational and knowledge Purposes only and are not intended to be a substitute for consultation with a qualified attorney.

The information is captured from different sources, and the presenters assume no responsibility or liability for any Legal consequences, errors, or omissions in the content of this presentation.