Senate Bill No. 495
(By Senator Miller)
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[Introduced February 20, 1995; referred to the Committee
on the Judiciary.]
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A BILL to amend and reenact section twenty-nine, article two,
chapter forty-four of the code of West Virginia, one
thousand nine hundred thirty-one, as amended, relating to
administration of estates and trusts; proof and allowance of
claims; and waiver of final settlements in estates subject
to administration.
Be it enacted by the Legislature of West Virginia:
That section twenty-nine, article two, chapter forty-four of
the code of West Virginia, one thousand nine hundred thirty-one,
as amended, be amended and reenacted to read as follows:
ARTICLE 2. PROOF AND ALLOWANCE OF CLAIMS AGAINST ESTATES OF
DECEDENTS.
§44-2-29. Waiver of final settlement.
In all estates of decedents subject to administration under
this article where an inheritance tax release has been filed with
the clerk and more than ninety days has elapsed since the filing
of any notice required by section one of this article, a final
settlement may be waived by a waiver containing an affidavit made
by the personal representative, that the time for filing of
claims has expired, that no known and unpaid claims exist against
the estate, and that all heirs have each been advised of the
share or shares to which each is entitled from the estate and
signed: (1) In the case of an estate having a sole beneficiary,
by such sole beneficiary; or (2) in the case of multiple
beneficiaries, every beneficiary; or (3) in the case of an estate
that has been referred to a fiduciary commissioner, by the
fiduciary commissioner.
In the case of a beneficiary under a disability, the duly
qualified personal representative of such beneficiary, may sign
in lieu of such beneficiary. A personal representative signing
such waiver shall be responsible to his or her cestui que trust
for any loss resulting from such waiver.
The waiver shall be recorded as in the case of and in lieu
of a settlement.
NOTE: The purpose of this bill is to require the signature
of the fiduciary commissioner on any waiver of final settlement
when the estate has previously been referred to the fiduciary
commissioner.
Strike-throughs indicate language that would be stricken
from the present law, and underscoring indicates new language
that would be added.