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An executor is the legal personal representative of a deceased person's estate. The appointment of an executor only becomes effective after the death of the testator. After the testator dies, the person named in the will as executor can decline or renounce the position, and if so should quickly notify the probate court accordingly.
The Code of 1819 was the first codification in Virginia that organized the statutory law by subject matter. On March 12, 1819, the Virginia General Assembly passed "An Act Providing for the re-publication of the Laws of this Commonwealth," and the resulting Code of 1819 entered into force on January 1, 1820.
These can include a corporate trustee that conducts transactions with other trusts in which the entity may also be a trustee, the executor of an estate or other fiduciary. [61] All that would be required is that the transactions appear fair and reasonable to all parties.
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A trustee has a duty to know, understand, and abide by the terms of the trust and relevant law. The trustee may be compensated and have expenses reimbursed, but otherwise turn over all profits from the trust and neither endebt nor riskily speculate on the assets without the written, clear permission of all adult beneficiaries.
In the law of inheritance, wills and trusts, a disclaimer of interest (also called a renunciation) is an attempt by a person to renounce their legal right to benefit from an inheritance (either under a will or through intestacy) or through a trust. "If a trustee disclaims an interest in property that otherwise would have become trust property ...
The law of Virginia consists of several levels of legal rules, including constitutional, statutory, regulatory, case law, and local laws. The Code of Virginia contains the codified legislation that define the general statutory laws for the Commonwealth.
Feb. 20—TAZEWELL, Va. — Virginia voters in the 38th Senatorial District who use absentee ballots do not need a witness signature on the ballot for the March 23 special election. Brian Earls ...