At the time of filing the will the probate tax must be paid. (Generally $1.00 state probate tax and .33 cents local tax, if applicable, per $1,000.00 value of the estate)
- The final income tax return of the deceased must be filed.
- The final personal property tax return of the deceased must be filed.
- An income tax return for the estate (income coming to the estate after death) must be filed if there is sufficient income.
- A Virginia estate tax return must be filed if required (generally only required if a federal estate tax return is necessary.
Just as for state, the decedent’s final federal income tax return, estate income tax return, and estate tax return must be filed if required. Generally estate taxes (both federal and state) are due only if the gross estate (includes life insurance and survivorship property not handled by fiduciary) exceeds certain thresholds. Consult the IRS or Virginia Department of Taxation