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Probate Tax Return CC-1651 - Virginia
| Probate Tax Return Form. This is a Virginia form and can be used in Probate Circuit Court Statewide . |
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PROBATE TAX RETURN (CONFIDENTIAL) Court File No.: COMMONWEALTH OF VIRGINIA This return must be filed with the Clerk of Circuit Court at the time a will is offered for probate or the grant of administrationis sought in such court when the estate exceeds fifteen thousand dollars ($15,000) in value. Circuit Court of Decedents name Social Security No. Residence address at death (street, city, state) Date of birth Date and place of death VALUE OF DECEDENTS PROBATE ESTATE (a) Personal Property $ (b) Real Property Located in Virginia $ TOTAL VALUE OF DECEDENTS PROBATE ESTATE $ I (we), the undersigned, declare under penalty of law that I (we) ha ve examined this Return and to the best of my (our) beliefit is a true, correct, and complete Return. DATE SIGNATURE OF PERSON OFFERING WILL FOR PROBATE OR SEEKING GRANT OF ADMINI STRATIONMailing Address: DATE SIGNATURE OF ADDITIONAL PERSON SEEKING GRANT OF ADMINISTRATION Mailing Address: INSTRUCTIONS GENERAL. The probate tax is not an inheritance tax or an estate tax. It is a tax imposed on the probate of every will or grantof administration on every estate that exceeds fifteen thousand dollars ($15,000). The state probate tax rate is 10 for every$100, or fraction thereof, of the value of the decedents estate. No one is permitted to qualify as executor or administratoruntil this tax is paid. Cities and counties are permitted to impose a pr obate tax in an amount equal to one-third of the state tax.WHATS INCLUDED. The tax is imposed on the decedents probate estate. Thus, do not includ e (i) any property that thedecedent owned with another with the right of survivorship, (ii) life insurance unless it is payable to the decedents estate, or(iii) any other property passing by contract or beneficiary designatio n from the decedent to another person. In addition, youshould not include any of the decedents real estate located in another state. VALUATION METHOD. Because of the difficulty in determining exact values at the time of pro bate or qualification, theClerk will accept a reasonable estimate of the value of the decedents p ersonal property. You should try to be as accurate aspossible when making your estimate in order to eliminate the need to ret urn to the Clerks Office and pay additional taxand/or increase your bond at a later time. If you do not know the actual value of the decedents real property, you may use itsassessed value for local real estate tax purposes. VALUATION DATE. All property is to be valued as of the date of the decedents death. FORM CC-1651 (w) (PAGE ONE OF ONE) 7/03 PDF VA. CODE 58.1-1713, -1714 American LegalNet, Inc. www.USCourtForms.com
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