Virginia Code 64.2-308.7: Decedent’s non-probate transfers to the surviving spouse.
Excluding property passing to the surviving spouse under the federal social security system, the value of the augmented estate includes the value of the decedent‘s non-probate transfers to the decedent’s surviving spouse, which consist of all property that passed outside probate at the decedent’s death from the decedent to the surviving spouse by reason of the decedent’s death, including:
Terms Used In Virginia Code 64.2-308.7
- Decedent: A deceased person.
- Includes: means includes, but not limited to. See Virginia Code 1-218
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
- Probate: Proving a will
- Property: includes values subject to a beneficiary designation. See Virginia Code 64.2-308.1
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
1. The decedent’s fractional interest in property held as a joint tenant with the right of survivorship, to the extent that the decedent’s fractional interest passed to the surviving spouse as surviving joint tenant;
2. The decedent’s ownership interest in property or accounts held in co-ownership registration with the right of survivorship, or with Payable on Death or Transfer on Death designations to the extent the decedent’s ownership interest passed to the surviving spouse as surviving co-owner; and
3. All other property that would have been included in the augmented estate under subdivision 1 or 2 of § 64.2-308.6 had it passed to or for the benefit of a person other than the decedent’s spouse, surviving spouse, the decedent, or the decedent’s creditors, estate, or estate creditors.