Detailed Answer
During probate in West Virginia, the personal representative (also called executor) steps in to preserve estate assets and pay debts, bills and expenses. West Virginia Code § 44-2-1 authorizes the court to appoint a personal representative. Once appointed, this individual holds the power to collect assets, open an estate bank account and pay valid claims.
1. Open a Dedicated Estate Account
Immediately upon appointment, open a separate bank account in the estate’s name. This segregates estate funds from personal funds. Use this account for all receipts (pension checks, rents, dividends) and disbursements. It eases record-keeping and builds transparency for the court and beneficiaries.
2. Inventory Assets and Estimate Expenses
Within 30 days of appointment, file an inventory of the estate’s assets with the probate court (W. Va. Code § 44-2-13). List real estate, bank accounts and personal property. At the same time, draft a budget covering:
- Funeral and burial costs
- Probate and court fees
- Attorney and personal representative fees
- Taxes (estate, income, property)
- Ongoing household bills (utilities, mortgage, insurance)
3. Provide Notice to Creditors
Publish a notice in a local newspaper within 30 days of appointment (W. Va. Code § 44-2-7). Creditors then have at least two months to submit claims. No valid creditor claim survives beyond this deadline. This window lets you estimate and reserve funds for debt repayment.
4. Pay Priority Expenses First
West Virginia law assigns priority to certain expenses:
- Funeral expenses and last illness costs.
- Administration costs (court fees, personal representative bond premium).
- Statutory allowances to surviving spouse or family.
- All other claims in order of approval.
Use estate funds to pay mortgage interest, insurance premiums and utilities to preserve assets. The court need not approve routine bills if they fall within your ordinary powers as personal representative (W. Va. Code § 44-2-9).
5. Seek Court Approval for Extraordinary Expenses
If you must sell real estate, invest surplus cash or incur major maintenance costs, petition the court for permission. Detailed budgeting and transparent record-keeping will speed approval. Once authorized, pay for these items from the estate account.
6. Final Accounting and Distribution
After paying expenses and claims, prepare a final accounting for the court. List all receipts, payments, and distributions to beneficiaries. Upon court approval, distribute remaining assets according to the will or West Virginia intestacy statute.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation.
Helpful Hints
- Keep detailed records of every transaction and receipt.
- Use accounting software or ledgers to track estate cash flow.
- Communicate regularly with beneficiaries about the probate timeline.
- Consult professionals (appraisers, accountants) for complex assets.
- File tax returns on time to avoid penalties.
- Request bond waiver if all heirs agree and the court approves.
- Review the will and West Virginia Code to confirm your duties.