Virginia Code 64.2-308.5: Decedent’s net probate estate.
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The value of the augmented estate includes the value of the decedent‘s probate estate, reduced by funeral and administration expenses (excluding federal or state transfer taxes), homestead allowance, family allowances, exempt property, and enforceable claims.
Terms Used In Virginia Code 64.2-308.5
- Decedent: A deceased person.
- Includes: means includes, but not limited to. See Virginia Code 1-218
- Probate: Proving a will
- Property: includes values subject to a beneficiary designation. See Virginia Code 64.2-308.1
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245