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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>376284</law_id><section_number>64.2-516</section_number><catch_line>Duties of fiduciaries as to certain obligations of the United States</catch_line><edition url="https://vacode.org/2026/" slug="2026" current="TRUE" last_updated="2026-08-02">2026</edition><structure><unit label="title" level="1" order_by="136" identifier="64.2">Wills, Trusts, and Fiduciaries</unit><unit label="subtitle" level="2" order_by="2" identifier="II">Wills and Decedents' Estates</unit><unit label="chapter" level="3" order_by="4" identifier="5">Personal Representatives and Administration of Estates</unit><unit label="article" level="4" order_by="3" identifier="3">Authority and General Duties</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> Except as provided in subsection B, a <span class="dictionary">fiduciary</span> charged with the administration of the estate of a decedent is not required to assert a claim to or seek to recover the whole or any part of funds arising from the <span class="dictionary">redemption</span> or payment of <span class="dictionary">bonds</span> of the United States that are paid or payable to others under the applicable <span class="dictionary">laws</span> of the United States or rules and regulations of the U.S. Department of the Treasury. <a id="paragraph-1404906" class="section-permalink" href="https://vacode.org/64.2-516/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The <span class="dictionary">fiduciary</span> shall assert a claim to such funds if he receives a request in writing from any person interested in the estate within six months from the date of the initial qualification of the estate. The <span class="dictionary">fiduciary</span>, or his attorney, shall acknowledge in writing receipt of such request within 10 days, and if the <span class="dictionary">fiduciary</span> is the co-owner of such funds, the <span class="dictionary">fiduciary</span> shall segregate such funds and place such funds in an interest-bearing account, awaiting an appropriate <span class="dictionary">court order</span> concerning the ultimate <span class="dictionary">disposition</span> of such funds. The <span class="dictionary">fiduciary</span> shall not use such funds for his own personal account. However, if the <span class="dictionary">fiduciary</span> accedes to the request that such funds be treated as estate funds, the <span class="dictionary">fiduciary</span> may distribute the funds according to <span class="dictionary">law</span> without any <span class="dictionary">court order</span>. <a id="paragraph-1404907" class="section-permalink" href="https://vacode.org/64.2-516/#B"><i class="fa fa-link"/></a></p></section></text><history>Code 1950, &#xA7; 64-131.2; 1968, c. 656, &#xA7; 64.1-141; 2012, c. 614.</history><metadata></metadata></law>
