What is Section 64.2 1314 in Virginia Code?

64.2-1314. Statement in lieu of settlement of accounts by personal representatives in certain circumstances. A. For the purposes of this section, the term "residuary beneficiary" shall not include the trustee of a trust that receives a residuary gift under a decedent's will.

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Account Stated for Construction Work

Account Stated Statement For Visa Application In Virginia

Category:

Construction - Contractors - Payments

State:

Multi-State

Control #:

US-0031BG

Format:

Instant download

Description

The Account Stated Statement for Visa Application in Virginia serves as a formal agreement between an owner and a contractor, detailing the financial transactions related to construction work carried out on specified properties. It outlines the allocation of payments for labor and materials between two buildings, ensuring clarity on settled and outstanding accounts. Key features include sections for listing involved parties, their addresses, and a detailed statement of payments with regards to specific buildings. Legal professionals such as attorneys, partners, owners, associates, paralegals, and legal assistants find this form useful for maintaining transparent financial records in construction projects. It can be filled out by entering the appropriate details about the parties involved and the payment amounts due. This form is particularly relevant in scenarios where discrepancies may arise regarding payment allocations or in verifying completion and payment status for legal or financial auditing purposes. Users should ensure to follow specific instructions to correctly fill out each part of the form, as accurate information is critical for legal compliance.

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FAQ

Executors are required to keep beneficiaries reasonably informed about the status of estate administration — a duty which generally includes accounting. For this reason, if an executor is doing their job, it usually won't be necessary for beneficiaries to request an estate accounting.

A waiver of accounting is a voluntary waiver by all heirs and beneficiaries that eliminates a very time-consuming and expensive accounting process by the Personal Representative. In order for a probate estate to be closed, the court requires the filing of a petition for final distribution.

§ 64.2-1314. Statement in lieu of settlement of accounts by personal representatives in certain circumstances. A. For the purposes of this section, the term "residuary beneficiary" shall not include the trustee of a trust that receives a residuary gift under a decedent's will.