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Introduced Version House Bill 4311 History

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Key: Green = existing Code. Red = new code to be enacted
H. B. 4311


(By Mr. Speaker, Mr. Kiss, and Delegates
Jenkins, Staton, Varner, Trump and Dalton)
[Introduced February 9, 1998; referred to the
Committee on the Judiciary.]



A BILL to amend and reenact section fourteen, article one, chapter forty-four of the code of West Virginia, one thousand nine hundred thirty-one, as amended, relating to the establishment of a ninety-day time period for filing an appraisement of a decedent's estate.

Be it enacted by the Legislature of West Virginia:
That section fourteen, article one, 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 1. PERSONAL REPRESENTATIVES.
§44-1-14. Appraisal of estates in triplicate; disposition; authority of appraisers to act throughout the state; hiring of experts.

The real and personal estate of every deceased person, or in which such deceased person had an interest at the time of his or her death, shall be appraised by the personal representative of such deceased person. Such personal representative, after first taking an oath for the purpose, shall list and appraise at its real and actual value all the real estate and all the tangible property of every description owned by the deceased at the time of his or her death, including, but not limited to, all real estate and tangible property in which the decedent had an interest as joint tenant or otherwise or in which any beneficial interest passes to another person by reason of the death of such decedent whose estate is being so appraised and irrespective of whether such real estate or tangible property is subject to administration and located in each county or the counties, as the case may be. The personal representative shall also list and appraise at its real and actual value all of the decedent's intangible property of every description, including moneys, credits, investments, annuities, life insurance policies, (irrespective of whether such policies are payable to named beneficiaries or in trust or otherwise), judgments and decrees for moneys, notes, bonds, accounts and all other evidences of debt, whether owing to him or her by persons or corporations in or out of the state, and the number and value, including both the par value, if any, and the actual value, of any shares of capital stock owned by the decedent in any corporation, and every other item of intangible property of whatsoever nature or kind, including all intangible property in which the decedent had an interest as joint tenant or otherwise or in which any beneficial interest passes to another by reason of the death of such decedent, and irrespective of whether such intangible property is subject to administration and whether located in this state or elsewhere. Any real estate or interest therein so appraised shall be identified with particularity and description, shall identify the source of title in the decedent and the location of such realty for purposes of real property ad valorem taxation. In addition to all other information required by law, the appraisement shall contain and include a questionnaire designed and formulated by the tax commissioner which is designed for the purpose of examining the personal representative to determine that he or she has made a thorough and proper search and investigation as to the existence and value of each and every kind and species of property required to be included within, and subject to appraisement by, the provisions of this or any other section of this code, which said questionnaire shall be completed and answered upon the oath or adjuration of the personal representative or fiduciary.
The appraisement, list and questionnaire aforesaid shall be executed in triplicate and shall be signed by the personal representative and be forthwith returned to the clerk of the county commission by whom such personal representative was appointed or to the fiduciary supervisor within ninety days. Such clerk or supervisor shall inspect such appraisement, list and questionnaire, see that the same are in proper form, and that all property, if any, suggested by the questionnaire is included within the appraisement. If such appraisement, list and questionnaire are returned to a fiduciary supervisor within ten days after they are received and approved by him or her, such supervisor shall deliver two copies of the same to the clerk of the county commission. Upon receipt of the appraisement, list and questionnaire, the clerk of the county commission shall record the same, with the certificate of approval of the supervisor, and mail one copy of the same to the tax commissioner of West Virginia. The date of return of an appraisement shall be entered by the clerk of the county commission in his or her record of fiduciaries. Every such appraisement and list shall be prima facie evidence of the value of the property embraced therein, and that the personal estate embraced therein which is subject to administration came to the hands of the personal representative. No person shall be permitted by any means whatsoever to avoid the appraisement and listing of his or her estate and of all property, real, tangible and intangible, of whatsoever nature and kind, in which a beneficial interest passes to another by reason of the death of the decedent and irrespective of whether such property is subject to administration as herein provided, nor shall his or her personal representative be permitted to do so. Any personal representative who fails, refuses or declines to comply with the provisions of this section shall be guilty of a misdemeanor and, upon conviction thereof, shall be fined not less than twenty-five dollars nor more than five hundred dollars.
Every personal representative shall have authority to retain or hire the services of such expert or experts as may be deemed appropriate to assist and advise him or her in and about his or her duties in appropriately and accurately appraising all or any part of the assets or property to be appraised according to the provisions of this section. Such expert or experts so retained or hired shall be compensated a reasonable sum by the personal representative from the assets coming into his or her hands or of which he or she is embraced, which compensation and the reasonableness thereof shall be subject to review and approval by the county commission, upon recommendation of the fiduciary supervisor.



NOTE: The purpose of this bill is to establish a ninety- day time period for filing an appraisement of a decedent's estate.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.
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