2006 Code of Virginia § 8.01-606 - Payment of small amounts to certain persons through court without intervention of fiduciary; author...

8.01-606. Payment of small amounts to certain persons through court withoutintervention of fiduciary; authority of commissioners of accounts; certainfiduciaries exempt from accountings.

A. Whenever there is due to any person, any sum of money from any source, notexceeding $15,000, the fund may be paid into the circuit court of the countyor city in which the fund became due or such person resides. The court may,by an order entered of record, (i) pay the fund to the person to whom it isdue, if the person is considered by the court competent to expend and use thesame in his behalf, or (ii) pay the fund to some other person who isconsidered competent to administer it, for the benefit of the person entitledto the fund, without the intervention of a fiduciary, whether the otherperson resides within or without this Commonwealth. The clerk of the courtshall take a receipt from the person to whom the money is paid, which shallshow the source from which it was derived, the amount, to whom it belongs,and when and to whom it was paid. The receipt shall be signed andacknowledged by the person receiving the money, and entered of record in thebook in the clerk's office in which the current fiduciary accounts areentered and indexed. Upon the payment into court the person owing the moneyshall be discharged of such obligation. No bond shall be required of theparty to whom the money is paid by the court.

B. Whenever (i) it appears to the court having control of a fund, tangiblepersonal property or intangible personal property or supervision of itsadministration, whether a suit is pending therefor or not, that a personunder a disability who has no fiduciary, is entitled to a fund arising fromthe sale of lands for a division or otherwise, or a fund, tangible personalproperty or intangible personal property as distributee of any estate, orfrom any other source, (ii) a judgment, decree, or order for the payment of asum of money or for delivery of tangible personal property or intangiblepersonal property to a person under a disability who has no fiduciary isrendered by any court, and the amount to which such person is entitled or thevalue of the tangible personal property or intangible personal property isnot more than $15,000, or (iii) a person under a disability is entitled toreceive payments of income, tangible personal property or intangible personalproperty and the amount of the income payments is not more than $15,000 inany one year, or the value of the tangible personal property is not more than$15,000, or the current market value of the intangible personal property isnot more than $15,000, the court may, without the intervention of afiduciary, cause such fund, property or income to be paid or delivered to anyperson deemed by the court capable of properly handling it, to be used solelyfor the education, maintenance and support of the person under a disability.In any case in which an infant is entitled to such fund, property or income,the court may, upon its being made to appear that the infant is of sufficientage and discretion to use the fund, property or income judiciously, cause thefund to be paid or delivered directly to the infant.

C. Whenever a person is entitled to a fund or such property distributable bya fiduciary settling his accounts before the commissioner of accounts of thecourt in which the fiduciary qualified, and the amount or value of the fundor property, or the value of any combination thereof, is not more than$15,000, the commissioner of accounts may approve distribution thereof in thesame manner and to the extent of the authority herein conferred upon a courtincluding exemption from filing further accounts where the value of the fundbeing administered is less than $15,000.

D. Whenever an incapacitated person or infant is entitled to a fund or suchproperty distributable by a fiduciary settling accounts before thecommissioner of accounts of the court in which the fiduciary qualified andthe will or trust instrument under which the fiduciary serves, authorizes thefiduciary to distribute the property or fund to the incapacitated person orinfant without the intervention of a guardian, conservator or committee, andthe amount or value of such fund or property, or the value of any combinationthereof, is not more than $15,000, the commissioner of accounts may approvedistribution thereof in the same manner and to the extent of the authorityhereinabove conferred upon a court or judge thereof.

E. Whenever a fiduciary is administering funds not exceeding $15,000, thecircuit court of the county or city in which the fund is being administeredby order entered of record may authorize the fiduciary, when consideredcompetent to administer the funds, to continue to administer the funds forthe benefit of the person entitled to the fund without the necessity offiling any further accounts, whether such person resides within or withoutthis Commonwealth. The clerk of the court shall take a receipt from thefiduciary, which shall show the amount of the fund remaining, to whom itbelongs, and the date the court entered the order exempting the filing offurther accounts. The receipt shall be signed and acknowledged by thefiduciary, and entered of record in the book in the clerk's office in whichthe current fiduciary accounts are entered and indexed. No surety shall berequired on the bond of a fiduciary granted an exemption from filing anyfurther accounts.

(Code 1950, 8-750, 8-751; 1952, c. 103; 1954, cc. 238, 526; 1962, c. 465;1966, cc. 332, 339; 1970, c. 566; 1977, cc. 462, 617; 1978, c. 525; 1980, c.544; 1985, c. 216; 1987, c. 378; 1995, c. 405; 1997, c. 801; 2003, c. 195.)