A fiduciary is a person or eligible entity in possession and control of assets that ultimately are to be disbursed or distributed to others. Under Virginia law, certain fiduciaries are required to file an inventory of the assets under their control and annual accountings of receipts, disbursement and distribution of such assets with a Commissioner of Accounts.

 

An executor or administrator  of a decedent's estate consisting of assets to be distributed to the intended heirs or beneficiaries under the terms of the decedent's will or if there is no will under Virginia law. 

 

A trustee of a testamentary trust (a trust established under a decedent's will), providing terms for the management and distribution of assets for the benefit of the beneficiaries of the trust.

 

A guardian qualified with the Court to manage and control the assets of a minor until the minor attains the age of 18 years.  

 

A conservator appointed by the Court and qualified with a Clerk of Court to manage and control the assets of an incapacitated adult during their incapacity. 

 

A person or eligible entity serving as trustee under a deed of trust (mortgage) in the event of a foreclosure sale of real property if there is default under the secured loan, and to receive and disburse the proceeds of such sale in accordance with the terms of a deed of trust and applicable law.