14 V.S.A. § 3371 — VT Code / Title 14 / Chapter 118 / Section 3371
§ 3371. Disbursements from income
Status: in_force

A trustee shall make the following disbursements from income to the extent that they are not disbursements to which subdivision 3331(2)(B) or (C) of this title applies:

(1) one-half of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee;

(2) one-half of all expenses for accountings, judicial proceedings, or other matters that involve both the income and remainder interests;

(3) all of the other ordinary expenses incurred in connection with the administration, management, or preservation of trust property and the distribution of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal, and expenses of a proceeding or other matter that concerns primarily the income interest; and

(4) recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.
14 V.S.A. § 2627 — VT Code / Title 14 / Chapter 111 / Section 2627
§ 2627. Nonconsensual guardianship
Status: in_force

(a) If the petition requests a nonconsensual guardianship, the burden shall be on the proposed guardian to establish by clear and convincing evidence that the child is a child in need of guardianship as defined in subdivision 2622(2)(B) of this title.

(b) The Vermont Rules of Evidence shall apply to a hearing under this section.

(c) The court shall grant the petition if it finds after the hearing by clear and convincing evidence that the proposed guardian is suitable and that the child is a child in need of guardianship as defined in subdivision 2622(2)(B) of this title.

(d) If the court grants the petition, it shall issue an order establishing a guardianship under section 2628 of this title.
14 V.S.A. § 1053 — VT Code / Title 14 / Chapter 63 / Section 1053
§ 1053. Supplemental inventory
Status: in_force

(a) If the executor or administrator learns of the existence of any property not included in the original inventory or learns that the value or description indicated in the original inventory for any item is erroneous or misleading, the executor or administrator shall:

(1) make a supplementary inventory or appraisal showing the market value as of the date of the decedent's death of the new item or the revised market value or descriptions, and the appraisals or other data relied upon, if any; and

(2) file the supplementary inventory or appraisal with the court and serve copies of it as provided by the Rules of Probate Procedure.

(b) Upon motion filed within 30 days after the filing of an original or supplemental inventory by any creditor having a claim of more than $1,000.00, or by any heir, devisee, or legatee entitled to property or cash of value of more than $500.00 on distribution of the estate, the court shall hold a hearing and may appoint one or more special appraisers to reappraise any item of property reported in the inventory or to appraise any property omitted from the inventory.
14 V.S.A. § 204 — VT Code / Title 14 / Chapter 5 / Section 204
§ 204. Definitions
Status: in_force

As used in this title:

(1) “Interested person” includes heirs, devisees, legatees, children, spouses, creditors, beneficiaries, and any others having a property right in or claim against a trust estate or the estate of a decedent, or person under guardianship that may be affected by the proceeding. It also includes persons having priority for appointment as executor or administrator, and other fiduciaries representing interested persons. The parties at commencement of a probate proceeding shall include all interested persons. The meaning as it relates to particular persons may vary from time to time and shall be determined by the Rules of Probate Procedure.

(2) “Fiduciary” includes executor, administrator, special administrator, trustee, conservator, guardian of a minor, guardian of a spendthrift, voluntary guardian of a person who has an infirmity and total or limited guardian of an adult with a developmental disability, but excludes one who is merely a guardian ad litem.

(3) “Special fiduciary” means an individual appointed as provided by the Rules of Probate Procedure to assume the duties of a fiduciary suspended by the court.

(4) “Executor” includes administrator with the will annexed.
14 V.S.A. § 2692 — VT Code / Title 14 / Chapter 111 / Section 2692
§ 2692. Extent of guardian's control
Status: in_force

Until they are legally discharged, guardians of spendthrifts shall have the possession and management of the estates of their wards.
14A V.S.A. § 305 — VT Code / Title 14A / Chapter 3 / Section 305
§ 305. Appointment of representative
Status: in_force

(a) If the Probate Division of the Superior Court determines that an interest is not represented under this chapter, or that the otherwise available representation might be inadequate, the Probate Division of the Superior Court may appoint a representative to receive notice, give consent, and otherwise represent, bind, and act on behalf of a minor, incapacitated, or unborn individual, or a person whose identity or location is unknown. A representative may be appointed to represent several persons or interests.

(b) A representative may act on behalf of the individual represented with respect to any matter arising under this title, whether or not a judicial proceeding concerning the trust is pending.

(c) In making decisions, a representative may consider general benefit accruing to the living members of the individual's family.
14 V.S.A. § 2754 — VT Code / Title 14 / Chapter 111 / Section 2754
§ 2754. New bond
Status: in_force

A ward, the heir apparent of a ward, or a person interested in the welfare of a ward, as defined in section 3061 of this title, may file a motion with the Probate Division of the Superior Court to require the guardian to give a new and sufficient bond. If it appears to the court that the bond is insufficient, the court may order the guardian to give a new and sufficient bond. When it appears on the motion of a surety in a guardian's bond that the surety is liable to be injured thereby, the court may discharge the surety from future responsibility and order the guardian to give a new bond. After being notified of the order, if the guardian does not give a new bond, the court may remove the guardian and appoint some other person.
14 V.S.A. § 1735 — VT Code / Title 14 / Chapter 77 / Section 1735
§ 1735. Shares, how set out in partition
Status: in_force

The shares in the real and personal estate shall be set out to each individual, in proportion to his or her right, by metes and bounds or other description that permits the shares to be easily distinguished, except to the extent that two or more of the parties interested consent to have their shares set out so as to be held by them in common and undivided.
14 V.S.A. § 1953 — VT Code / Title 14 / Chapter 83 / Section 1953
§ 1953. Form of disclaimer
Status: in_force

The disclaimer shall:

(1) describe the property or interest disclaimed;

(2) declare the disclaimer and extent thereof; and

(3) be signed by the disclaimant.
14 V.S.A. § 2629 — VT Code / Title 14 / Chapter 111 / Section 2629
§ 2629. Powers and duties of guardian
Status: in_force

(a) The court shall specify the powers and duties of the guardian in the guardianship order.

(b) The duties of a custodial guardian shall include the duty to:

(1) take custody of the child and establish the child's place of residence, provided that a guardian shall not change the residence of the child to a location outside the State of Vermont without prior authorization by the court following notice to the parties and an opportunity for hearing;

(2) make decisions related to the child's education;

(3) make decisions related to the child's physical and mental health, including consent to medical treatment and medication;

(4) make decisions concerning the child's contact with others, provided that the guardian shall comply with all provisions of the guardianship order regarding parent-child contact and contact with siblings;

(5) receive funds paid for the support of the child, including child support and government benefits; and

(6) file an annual status report to the Probate Division, with a copy to each parent at the parent's last known address, including the following information:

(A) the current address of the child and each parent;

(B) the child's health care and health needs, including any medical and mental health services the child received;

(C) the child's educational needs and progress, including the name of the child's school, day care, or other early education program, the child's grade level, and the child's educational achievements;

(D) contact between the child and the child's parents, including the frequency and duration of the contact and whether it was supervised;

(E) how the parents have been involved in decision making for the child;

(F) how the guardian has carried out the guardian's responsibilities and duties, including efforts made to include the child's parents in the child's life;

(G) the child's strengths, challenges, and any other areas of concern; and

(H) recommendations with supporting reasons as to whether the guardianship order should be continued, modified, or terminated.

(c) In the case of a standby guardianship petition filed pursuant to section 2626a of this title, the guardian shall provide status reports to the custodial parent at the parent's last known email address and to the custodial parent's attorney at the attorney's last known address.
14 V.S.A. § 1554 — VT Code / Title 14 / Chapter 73 / Section 1554
§ 1554. Recovery of estate fraudulently conveyed by deceased
Status: in_force

(a) If the executor or administrator determines there is a deficiency of assets in the estate, the fiduciary may bring an action in the Probate Division of the Superior Court for the benefit of the creditors to recover any property fraudulently conveyed by the deceased in his or her lifetime.

(b) The court may license the executor or administrator to sell so much of the property fraudulently conveyed as is necessary to make up the deficiency of assets in the estate to pay the debts of the decedent if it appears to the court that:

(1) there are insufficient assets to pay the debts of the deceased;

(2) the deceased conveyed property or a right or interest therein:

(A) with the intent to defraud creditors;

(B) to avoid a debt or duty; or

(C) with respect to real estate, in a manner that by law renders the conveyance void as against his or her creditor; and

(3) the estate attempted to be conveyed would be subject to attachment or execution by a creditor of the deceased in his or her lifetime.
14A V.S.A. § 505 — VT Code / Title 14A / Chapter 5 / Section 505
§ 505. Creditor's claim against settlor
Status: in_force

(a) Whether or not the terms of a trust contain a spendthrift provision, the following rules apply:

(1) During the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor's creditors.

(2) With respect to an irrevocable trust, a creditor or assignee of the settlor may reach the maximum amount that can be distributed to or for the settlor's benefit. If a trust has more than one settlor, the amount the creditor or assignee of a particular settlor may reach shall not exceed the settlor's interest in the portion of the trust attributable to that settlor's contribution. This subdivision shall not apply to an irrevocable “special needs trust” established for a disabled person as described in 42 U.S.C. § 1396p(d)(4) or similar federal law governing the transfer to such a trust.

(3) After the death of a settlor, and subject to the settlor's right to direct the source from which liabilities will be paid, the property of a trust that was revocable at the settlor's death is subject to claims of the settlor's creditors, costs of administration of the settlor's estate, the expenses of the settlor's funeral and disposal of remains, and statutory allowances to a surviving spouse and children to the extent the settlor's probate estate is inadequate to satisfy those claims, costs, expenses, and allowances.

(b) For purposes of this section:

(1) during the period the power may be exercised, the holder of a power of withdrawal is treated in the same manner as the settlor of a revocable trust to the extent of the property subject to the power; and

(2) upon the lapse, release, or waiver of the power, the holder is treated as the settlor of the trust only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in § 2041(b)(2) or 2514(e) of the Internal Revenue Code of 1986, or § 2503(b) of the Internal Revenue Code of 1986, in each case as in effect on the effective date of this title.

(c)(1) Property held by spouses as tenants by the entirety that is conveyed to the spouses' jointly or separately held revocable or irrevocable trusts, and any proceeds of the sale or disposition of the property, shall be immune from the claims of the spouses' separate creditors to the same extent as the property would have been if it had remained held by the spouses as tenants by the entirety if the following apply:

(A) the spouses are married to each other;

(B) the property is held in the trust or trusts or has been deeded out of the trust to the spouses as tenants by the entirety;

(C) if the trust is a joint trust, the trust may be revoked by either spouse acting alone but may be amended only by action of both spouses;

(D) the property is the spouses' property; and

(E)(i) both spouses are current beneficiaries of one joint trust that holds the entire property; or

(ii) each spouse is a current beneficiary of a separate trust and the two separate trusts, together, hold the entire property, whether or not other persons are also current or future beneficiaries of the trust or trusts.

(2)(A) Property at any time held in a tenants by the entirety trust shall have the same immunity from the claims of a separate creditor of either settlor as the property would have if it were held outside the trust by the settlors as tenants by the entirety unless otherwise provided in writing by the settlor or settlors who transferred the property to the trust. The property shall be treated in all respects as tenants by the entirety property, including for purposes of federal and state bankruptcy laws.

(B) Property held in a tenants by the entirety trust shall cease to receive immunity from the claims of creditors upon the dissolution of the settlors' marriage by a court.

(3) Except as otherwise provided in this title, on April 24, 2025:

(A) notwithstanding 1 V.S.A. § 214, this subsection (c) applies to all trusts created before, on, or after April 24, 2025 and to property held by spouses as tenants by the entirety that is conveyed before, on, or after April 24, 2025;

(B) this subsection (c) applies to all judicial proceedings concerning trusts commenced on or after April 24, 2025.
14 V.S.A. § 3091 — VT Code / Title 14 / Chapter 111 / Section 3091
§ 3091. Office of Public Guardian established
Status: in_force

(a) An Office of Public Guardian is established within the Department of Disabilities, Aging, and Independent Living for the purpose of making guardianship services available to mentally disabled persons 60 years of age or older for whom the Probate Division of the Superior Court is unable to appoint a guardian from the private sector.

(b) The Commissioner of the Department of Disabilities, Aging, and Independent Living shall employ persons as public guardians to act as designees of the Office and to carry out the duties of the Office of Public Guardian. Public guardians shall be available for appointment in each of the planning and service areas served by the area agencies on aging.

(c) The Commissioner of the Department of Disabilities, Aging, and Independent Living may adopt rules necessary to accomplish the purposes of this subchapter including standards relating to the maximum number of appointments that may be accepted by the Office.
14A V.S.A. § 1013 — VT Code / Title 14A / Chapter 10 / Section 1013
§ 1013. Certification of trust
Status: in_force

(a) Instead of furnishing a copy of the trust instrument to a person other than a beneficiary, the trustee of a trust at any time after execution or creation of a trust may execute a certificate of trust that sets forth less than all of the provisions of a trust instrument and any amendments to the instrument. The certificate of trust may be used as evidence of authority to sell, convey, pledge, mortgage, lease, or transfer title to any interest in real or personal property. The certificate of trust shall be upon the representation of the trustee that the statements contained in the certificate of trust are true and correct. The signature of the trustee must be under oath before a notary public or other official authorized to administer oaths. The certificate of trust must include:

(1) the name of the trust, if one is given;

(2) the date of the trust instrument;

(3) the name of each settlor;

(4) the name of each original trustee;

(5) the name and address of each trustee empowered to act under the trust instrument at the time of execution of the certificate;

(6) an abstract of the provisions of the trust instrument authorizing the trustee to act in the manner contemplated by the instrument;

(7) a statement that the trust instrument has not been revoked or amended as to the authorizing provisions, and a statement that the trust exists;

(8) a statement that no provisions of the trust instrument limit the authority so granted; and

(9) a statement as to whether the trust is supervised by any court and, if so, a statement that all necessary approval has been obtained for the trustee to act.

(b) A certificate of trust executed under subsection (a) of this section may be recorded in the municipal land records where the land identified in the certificate of trust or any attachment to it is located. When it is so recorded or filed for recording, or in the case of personal property, when it is presented to a third party, the certificate of trust serves to document the existence of the trust, the identity of the trustee, the powers of the trustee and any limitations on those powers, and other matters set forth in the certificate of trust, as though the full trust instrument had been recorded, filed, or presented.

(c) A certificate of trust is conclusive proof as to the matters contained in the certificate, and any party may rely upon the continued effectiveness of the certificate unless:

(1) a party dealing with the trustee has actual knowledge of facts to the contrary;

(2) the certificate is amended or revoked under subsection (d) of this section; or

(3) the full trust instrument including all amendments is recorded or filed.

(d) Amendment or revocation of a certificate of trust may be made only by a written instrument executed by the trustee of a trust. Amendment or revocation of a certificate of trust is not effective as to a party unless that party has actual notice of the amendment or revocation. For purposes of this subsection, “actual notice” means that a written instrument of amendment or revocation has been received by the party or, in the case of real property, that either a written instrument of amendment or revocation has been received by the party or that a written instrument of amendment or revocation identifying the real property involved has been recorded in the municipal land records where the real property is located.

(e) A certification of trust may be signed or otherwise authenticated by any trustee.

(f) A certification of trust need not contain the dispositive terms of a trust.

(g) A recipient of a certification of trust may require the trustee to furnish copies of those excerpts from the original trust instrument and later amendments which designate the trustee and confer upon the trustee the power to act in the pending transaction. Nothing in this subsection shall be construed to require a trustee to furnish the entire trust instrument to the recipient of a certification of trust.

(h) A person who in good faith enters into a transaction in reliance upon a certification of trust may enforce the transaction against the trust property as if the representations contained in the certification were correct.

(i) This section does not limit the right of a person to obtain a copy of the trust instrument in a judicial proceeding concerning the trust.
14A V.S.A. § 1422 — VT Code / Title 14A / Chapter 14 / Section 1422
§ 1422. Savings provision
Status: in_force

(a) If exercise of the decanting power would be effective under this chapter except that the second-trust instrument in part does not comply with this chapter, the exercise of the power is effective and the following rules apply with respect to the principal of the second trust attributable to the exercise of the power:

(1) a provision in the second-trust instrument that is not permitted under this chapter is void to the extent necessary to comply with this chapter; and

(2) a provision required by this chapter to be in the second-trust instrument that is not contained in the instrument is deemed to be included in the instrument to the extent necessary to comply with this chapter.

(b) If a trustee or other fiduciary of a second trust determines that subsection (a) of this section applies to a prior exercise of the decanting power, the fiduciary shall take corrective action consistent with the fiduciary's duties.
14 V.S.A. § 3551 — VT Code / Title 14 / Chapter 125 / Section 3551
§ 3551. Short title
Status: in_force

This chapter may be cited as the Vermont Revised Uniform Fiduciary Access to Digital Assets Act.
14 V.S.A. § 2792 — VT Code / Title 14 / Chapter 111 / Section 2792
§ 2792. Appraisal to be made; exception
Status: in_force

Except in the following cases, such guardian shall cause the estate to be appraised by two or more disinterested persons, to be appointed by the Probate Division of the Superior Court:

(1) when all the estate of the ward is in money, stocks, notes or other demands;

(2) when the ward is a minor, and his or her estate, besides money, stocks, notes or other demands does not amount to the sum of $50.00;

(3) when the value of the estate appears by the records of the court to which the inventory is returnable.
14A V.S.A. § 1401 — VT Code / Title 14A / Chapter 14 / Section 1401
§ 1401. Short title.
Status: in_force

This chapter may be cited as the Uniform Trust Decanting Act.
14 V.S.A. § 315 — VT Code / Title 14 / Chapter 42 / Section 315
§ 315. Parent and child relationship
Status: in_force

(a) For the purpose of intestate succession, an individual is the child of his or her parents, regardless of their marital status, but a parent shall not inherit from a child unless the parent has openly acknowledged the child and not refused to support the child.

(b) The parent and child relationship may be established in parentage proceedings under Title 15C.

(c) A parent shall not inherit from a child conceived of sexual assault who is the subject of a parental rights and responsibilities order issued pursuant to 15 V.S.A. § 665(f).
14 V.S.A. § 3079 — VT Code / Title 14 / Chapter 111 / Section 3079
§ 3079. Validity of prior guardianship
Status: in_force

All guardianships approved pursuant to section 2671 et seq. and section 2683 et seq. of this title prior to July 1, 1979 remain valid. On the first anniversary date of such guardianship after July 1, 1979, the court which approved such guardianship shall send notice to each person under guardianship, his or her counsel of record, and a near relative of the person under guardianship, if known, advising them of the right of the person under guardianship to petition for termination or modification of the guardianship pursuant to section 3077 of this title. Upon the filing of such a petition, the court shall promptly arrange for a comprehensive evaluation of the person under guardianship pursuant to section 3067 of this title.
14 V.S.A. § 1737 — VT Code / Title 14 / Chapter 77 / Section 1737
§ 1737. When estate cannot be divided without injury; to be sold; procedure
Status: in_force

When the real estate of a decedent, or any part of it greater than the share in it of any one of the heirs, cannot be divided without prejudice or inconvenience to the owners, proceedings may be had for the assignment or sale of the real estate in the Probate Division of the Superior Court.
14 V.S.A. § 2890 — VT Code / Title 14 / Chapter 111 / Section 2890
§ 2890. Lands held in trust to be conveyed to beneficiary
Status: in_force

When a person, while not under guardianship, held lands in trust for another person, or where lands have been set off on execution to a ward on a debt in the name of the ward but being the debt of some other person, and not belonging to the ward, upon motion, the Probate Division of the Superior Court shall schedule a hearing and notice shall be given as provided by the Rules of Probate Procedure. The court may grant license to the guardian to deed the lands to the person for whose benefit they are held. The court may decree the execution of the trust, whether created by deed or by law.
14 V.S.A. § 2649 — VT Code / Title 14 / Chapter 111 / Section 2649
§ 2649. Guardian appointed for nonresident minor
Status: in_force

On the petition of a minor, not a resident of this State, or a person interested in the welfare of the minor, the court may appoint a guardian of the minor when it appears that the minor owns or has an interest in real estate situated in the State.
14 V.S.A. § 1951 — VT Code / Title 14 / Chapter 83 / Section 1951
§ 1951. Right to disclaim interest in property
Status: in_force

A person, or the representative of a deceased, incapacitated or protected person, to whom any property or interest therein devolves, by whatever means, may disclaim it in whole or in part by delivering a written disclaimer under this chapter. The right to disclaim exists notwithstanding any limitation on the interest of the disclaimant in the nature of a spendthrift provision or similar restriction.
14 V.S.A. § 2849 — VT Code / Title 14 / Chapter 111 / Section 2849
§ 2849. Claims not barred
Status: in_force

Sections 2841-2848 of this title shall not bar the claims of creditors against the ward after he or she is discharged from guardianship.
14A V.S.A. § 302 — VT Code / Title 14A / Chapter 3 / Section 302
§ 302. Representation by holder of general testamentary power of appointment
Status: in_force

To the extent there is no conflict of interest between the holder of a general testamentary power of appointment and the persons represented with respect to the particular question or dispute, the holder may represent and bind persons whose interests, as permissible appointees, takers in default, or otherwise, are subject to the power.
14 V.S.A. § 3162 — VT Code / Title 14 / Chapter 114 / Section 3162
§ 3162. Exclusive basis
Status: in_force

This subchapter provides the exclusive jurisdictional basis for a Probate Division of the Superior Court of this State to appoint a guardian or issue a protective order for an adult. The Probate Division of the Superior Court shall have exclusive original jurisdiction to determine whether this State has jurisdiction pursuant to this subchapter.
14 V.S.A. § 1742 — VT Code / Title 14 / Chapter 77 / Section 1742
§ 1742. Record of decrees relating to real estate; where recorded
Status: in_force

Certified copies of final orders or decrees of a Probate Division of the Superior Court relating to real estate shall be recorded in the office where by law a deed of the real estate is required to be recorded.
14 V.S.A. § 1723 — VT Code / Title 14 / Chapter 77 / Section 1723
§ 1723. Advancement; how asserted; what constitutes
Status: in_force

An interested party may assert a claim that the decedent made a transfer during life that was an advancement. The party making the claim shall have the burden of proving it. Real or personal estate given by a decedent during the decedent's lifetime shall be reckoned toward the share of the decedent's estate otherwise allocable to the person to whom the lifetime gift was made as an advancement, and for that purpose shall be considered a part of the estate, if any of the following apply:

(1) The decedent declares in a writing, signed in the presence of and subscribed by two disinterested persons, that a gift or grant was made as an advancement.

(2) The gift or grant is acknowledged in a signed writing as an advancement by the recipient of the gift or grant.
14A V.S.A. § 1307 — VT Code / Title 14A / Chapter 13 / Section 1307
§ 1307. Limitations on trust director
Status: in_force

A trust director is subject to the same rules as a trustee in a like position and under similar circumstances in the exercise or nonexercise of a power of direction or further power under subdivision 1306(b)(1) of this title regarding:

(1) a payback provision in the terms of a trust necessary to comply with the reimbursement requirements of Medicaid law in Section 1917 of the Social Security Act, 42 U.S.C. § 1396p(d)(4)(A), and regulations issued thereunder; and

(2) a charitable interest in the trust, including notice regarding the interest to the Attorney General.
14 V.S.A. § 3078 — VT Code / Title 14 / Chapter 111 / Section 3078
§ 3078. Annual notice to person in need of guardianship
Status: in_force

The appointing court shall send an annual notice to each person under guardianship and the counsel of record of each person under guardianship, advising the person under guardianship of his or her right to file a motion for termination or modification of the guardianship pursuant to section 3077 of this title. The notice shall include a copy of any accountings, reports, or other information filed by the guardian during the year, except when there is counsel of record and the court deems it is in the best interests of the person under guardianship to send the accountings, reports, and other information to counsel only.
14A V.S.A. § 701 — VT Code / Title 14A / Chapter 7 / Section 701
§ 701. Accepting or declining trusteeship
Status: in_force

(a) Except as otherwise provided in subsection (c) of this section, a person designated as trustee accepts the trusteeship:

(1) by substantially complying with a method of acceptance provided in the terms of the trust; or

(2) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.

(b) A person designated as trustee who has not yet accepted the trusteeship may reject the trusteeship. A designated trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have rejected the trusteeship.

(c) A person designated as trustee, without accepting the trusteeship, may:

(1) act to preserve the trust property if, within a reasonable time after acting, the person sends a rejection of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to the designated cotrustee, or, if none, to the successor trustee, or, if none, to a qualified beneficiary; and

(2) inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.
14 V.S.A. § 3360 — VT Code / Title 14 / Chapter 118 / Section 3360
§ 3360. Liquidating asset
Status: in_force

(a) As used in this section, “liquidating asset” means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period of limited duration. The term includes a leasehold, patent, copyright, royalty right, and right to receive payments during a period of more than one year under an arrangement that does not provide for the payment of interest on the unpaid balance. The term does not include a payment subject to section 3359 of this title, resources subject to section 3361 of this title, timber subject to section 3362 of this title, an activity subject to section 3364 of this title, an asset subject to section 3365 of this title, or any asset for which the trustee establishes a reserve for depreciation under section 3373 of this title.

(b) A trustee shall allocate to income 10 percent of the receipts from a liquidating asset and the balance to principal.
14 V.S.A. § 318 — VT Code / Title 14 / Chapter 42 / Section 318
§ 318. Allowance to children after payment of debts
Status: in_force

Before any partition or division of an estate among the heirs or beneficiaries by will, an allowance may be made for the necessary expenses of support and maintenance of the children of the decedent until they reach 18 years of age. The Probate Division of the Superior Court may order the executor or administrator to retain sufficient estate assets for that purpose, except where some provision is made by will for their support.
14 V.S.A. § 3113 — VT Code / Title 14 / Chapter 113 / Section 3113
§ 3113. Investments
Status: in_force

A guardian shall invest the surplus funds of his or her wards' estate in such securities or property as authorized under the laws of this State, but only upon prior order of the court; except that the funds may be invested, without prior court authorization, in direct unconditional interest bearing obligations of this State or of the United States and in obligations the interest and principal of which are unconditionally guaranteed by the United States. A signed duplicate or certified copy of the petition for authority to invest shall be furnished the proper office of the Veterans' Administration, and notice of hearing thereon shall be given such office as provided in the case of hearing on the guardian's account.
14 V.S.A. § 2755 — VT Code / Title 14 / Chapter 111 / Section 2755
§ 2755. Limitation of action on bond
Status: in_force

An action shall not be maintained against the sureties in a bond given by a guardian, unless it is commenced within four years from the time the guardian is discharged. If the person entitled to commence the action is out of the State at the time of such discharge, he or she may commence such action within four years from the time he or she comes into the State.
14A V.S.A. § 603 — VT Code / Title 14A / Chapter 6 / Section 603
§ 603. Settlor's powers; powers of withdrawal
Status: in_force

(a) While a trust is revocable, rights of the beneficiaries are subject to the control of, and the duties of the trustee are owed exclusively to, the settlor.

(b) During the period the power may be exercised, the holder of a power of withdrawal has the rights of a settlor of a revocable trust under this section to the extent of the property subject to the power.
14 V.S.A. § 3233 — VT Code / Title 14 / Chapter 115 / Section 3233
§ 3233. Uniformity of application and construction
Status: in_force

This chapter shall be applied and construed to effectuate its general purpose to make uniform the law with respect to the subject of this chapter among states enacting it.
14A V.S.A. § 503 — VT Code / Title 14A / Chapter 5 / Section 503
§ 503. Exceptions to spendthrift provision
Status: in_force

(a) In this section, “child” includes any person for whom an order or judgment for child support has been entered in this or another state.

(b) A spendthrift provision is unenforceable against:

(1) a beneficiary's child who has a judgment or court order against the beneficiary for support or maintenance;

(2) a judgment creditor who has provided services for the protection of a beneficiary's interest in the trust; and

(3) a claim of this State or the United States to the extent a statute of this State or federal law so provides.

(c) A claimant against which a spendthrift provision cannot be enforced may obtain from a court an order attaching present or future distributions to or for the benefit of the beneficiary. The court may limit the award to such relief as is appropriate under the circumstances.
14 V.S.A. § 2624 — VT Code / Title 14 / Chapter 111 / Section 2624
§ 2624. Jurisdiction; transfer to Family Division
Status: in_force

(a) Except as provided in subsection (b) of this section, the Probate Division shall have exclusive jurisdiction over proceedings under this article involving guardianship of minors.

(b)(1)(A) A custodial minor guardianship proceeding brought in the Probate Division under this article shall be transferred to the Family Division if there is an open proceeding in the Family Division involving custody of the same child who is the subject of the guardianship proceeding in the Probate Division.

(B) A minor guardianship proceeding brought in the Probate Division under this article may be transferred to the Family Division on motion of a party or on the court's own motion if any of the parties to the probate proceeding was a party to a closed divorce proceeding in the Family Division involving custody of the same child who is the subject of the guardianship proceeding in the Probate Division.

(2)(A) When a minor guardianship proceeding is transferred from the Probate Division to the Family Division pursuant to subdivision (1) of this subsection (b), the Probate judge and a Superior judge assigned to the Family Division shall confer regarding jurisdiction over the proceeding. Except as provided in subdivision (B) of this subdivision (2), all communications concerning jurisdiction between the Probate judge and the Superior judge under this subsection shall be on the record. Whenever possible, a party shall be provided notice of the communication and an opportunity to be present when it occurs. A party who is unable to be present for the communication shall be provided access to the record.

(B) It shall not be necessary to inform the parties about or make a record of a communication between the Probate judge and the Superior judge under this subsection (b) if the communication involves scheduling, calendars, court records, or other similar administrative matters.

(C) After the Superior judge and Probate judge confer under subdivision (2)(A) of this subsection (b), the Superior judge may:

(i) consolidate the minor guardianship case with the pending matter in the Family Division and determine whether a guardianship should be established under this article; or

(ii) transfer the guardianship petition back to the Probate Division for further proceedings after the pending matter in the Family Division has been adjudicated.

(D) If a guardianship is established by the Family Division pursuant to subdivision (2)(C)(i) of this subsection, the guardianship case shall be transferred back to the Probate Division for ongoing monitoring pursuant to section 2631 of this title.
14 V.S.A. § 4007 — VT Code / Title 14 / Chapter 127 / Section 4007
§ 4007. Meaning and effect of power of attorney
Status: in_force

The meaning and effect of a power of attorney is determined by the law of the jurisdiction indicated in the power of attorney and, in the absence of an indication of jurisdiction, by the law of the jurisdiction in which the power of attorney was executed.
14 V.S.A. § 2401 — VT Code / Title 14 / Chapter 107 / Section 2401
§ 2401. Uncertain beneficiaries; Probate Division of the Superior Court may appoint agent or attorney
Status: in_force

When a devise, legacy, gift, or trust is made to or for the benefit of a class or classes of beneficiaries in this State whose members are not all ascertained or definitely ascertainable, the Probate Division of the Superior Court may in its discretion appoint a person or persons as agent or attorney to represent the beneficiaries, who shall act for them and their interests, without expense to the State, in any litigation, contest, or compromise in relation to the devise, legacy, gift, trust, will, contract, or instrument by which the same is given.
14 V.S.A. § 4005 — VT Code / Title 14 / Chapter 127 / Section 4005
§ 4005. Execution of power of attorney
Status: in_force

A power of attorney shall be signed by the principal or in the principal's conscious presence by another individual directed by the principal to sign the principal's name on the power of attorney. A signature on a power of attorney is presumed to be genuine if the principal acknowledges the signature before a notary public or other individual authorized by law to take acknowledgments.
14 V.S.A. § 4062 — VT Code / Title 14 / Chapter 127 / Section 4062
§ 4062. Relation to Electronic Signatures in Global and National Commerce Act
Status: in_force

This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede subsection 101(c) of that act, 15 U.S.C. § 7001(c), or authorize electronic delivery of any of the notices described in subsection 103(b) of that act, 15 U.S.C. § 7003(b).
14 V.S.A. § 3105 — VT Code / Title 14 / Chapter 113 / Section 3105
§ 3105. Appointment of guardian
Status: in_force

(a) A petition for the appointment of a guardian may be filed by:

(1) any relative or friend of the ward or by any person who is authorized by law to file such a petition; or

(2) if there is no person so authorized or if the person so authorized refuses or fails to file such a petition within 30 days after mailing of notice by the Veterans' Administration to the last known address of the persons, indicating the necessity for the same, by any resident of this State; or

(3) if the ward is a mentally incompetent veteran in a State institution, and no petition is filed within 60 days after the mailing of such notice, the Executive Secretary of the State Veterans' Board may file one praying that he or she, or his or her successor in office, in his or her official capacity, be appointed guardian.

(b) The petition for appointment shall set forth the name, age, place of residence of the ward, the name and place of residence of the nearest relative, if known, and the fact that the ward is entitled to receive benefits payable by or through the Veterans' Administration and shall set forth the amount of monies then due and the amount of probable future payments.

(c) The petition shall also set forth the name and address of the person or institution, if any, having actual custody of the ward and the name, age, relationship, if any, occupation, and address of the proposed guardian and if the nominee is a natural person, the number of wards for whom the nominee is presently acting as guardian. Notwithstanding any law as to priority of persons entitled to appointment, or the nomination in the petition, the court may appoint some other individual or a bank or trust company as guardian, if the court determines it is for the best interest of the ward.

(d) In the case of a mentally incompetent ward, the petition shall show that such ward has been rated incompetent by the Veterans' Administration on examination in accordance with the laws and regulations governing the Veterans' Administration.
14 V.S.A. § 11 — VT Code / Title 14 / Chapter 1 / Section 11
§ 11. How revoked
Status: in_force

(a)(1) A will is revoked:

(A) by executing a subsequent will that revokes the previous will expressly or by inconsistency; or

(B) by performing a revocatory act on the will, if the testator performed the act with the intent and for the purpose of revoking the will or part or if another individual performed the act in the testator's conscious presence and by the testator's direction.

(2) As used in this subsection, “revocatory act on the will” includes burning, tearing, canceling, obliterating, or destroying the will or any part of it. A burning, tearing, or canceling is a revocatory act on the will, whether or not the burn, tear, or cancellation touched any of the words on the will.

(b) The testator is presumed to have intended a subsequent will to replace rather than supplement a previous will if the subsequent will makes a complete disposition of the testator's estate. If this presumption arises and is not rebutted by clear and convincing evidence, the previous will is revoked and only the subsequent will is operative on the testator's death.

(c) The testator is presumed to have intended a subsequent will to supplement rather than replace a previous will if the subsequent will does not make a complete disposition of the testator's estate. If this presumption arises and is not rebutted by clear and convincing evidence, the subsequent will revokes the previous will only to the extent the subsequent will is inconsistent with the previous will, and each will is fully operative on the testator's death to the extent they are not inconsistent.
14 V.S.A. § 102 — VT Code / Title 14 / Chapter 3 / Section 102
§ 102. Allowance conclusive as to execution
Status: in_force

The allowance of a will shall be conclusive as to its due execution and validity.
14 V.S.A. § 1729 — VT Code / Title 14 / Chapter 77 / Section 1729
§ 1729. Partition
Status: in_force

When the real or personal estate assigned to two or more heirs, devisees, or legatees is in common and undivided, and their respective shares are not separated and distinguished, partition and distribution of the estate shall be made pursuant to 12 V.S.A. chapter 179 or, if the court consents, by the Probate Division of the Superior Court upon application by any interested heir, devisee, or legatee, and shall be conclusive on all persons interested.
14A V.S.A. § 1317 — VT Code / Title 14A / Chapter 13 / Section 1317
§ 1317. Uniformity of application and construction
Status: in_force

In applying and construing this uniform act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
14 V.S.A. § 3181 — VT Code / Title 14 / Chapter 114 / Section 3181
§ 3181. Registration of guardianship orders
Status: in_force

If a guardian has been appointed in another state and a petition for the appointment of a guardian is not pending in this State, the guardian appointed in the other state, after giving notice to the appointing court of an intent to register, may register the guardianship order in this State by filing as a foreign judgment in a Probate Division of the Superior Court, in any appropriate county of this State, certified copies of the order and letters of office.
14 V.S.A. § 3107 — VT Code / Title 14 / Chapter 113 / Section 3107
§ 3107. Evidence of necessity for guardian of incompetent
Status: in_force

Where a petition is filed for the appointment of a guardian for a mentally incompetent ward, a certificate of the Administrator or his duly authorized representative, that such person has been rated incompetent by the veterans administration on examination in accordance with the laws and regulations governing such Veterans' Administration and that the appointment of a guardian is a condition precedent to the payment of any monies due such ward by the Veterans' Administration, shall be prima facie evidence of the necessity for such appointment.
14 V.S.A. § 3156 — VT Code / Title 14 / Chapter 114 / Section 3156
§ 3156. Taking testimony in another state
Status: in_force

(a) In a guardianship or protective proceeding, in addition to other procedures that may be available, testimony of a witness who is located in another state may be offered by deposition or other means allowable in this State for testimony taken in another state. The Probate Division of the Superior Court on its own motion may order that the testimony of a witness be taken in another state and may prescribe the manner in which and the terms upon which the testimony is to be taken.

(b) In a guardianship or protective proceeding, a Probate Division of the Superior Court in this State may permit a witness located in another state to be deposed or to testify by telephone or audiovisual or other electronic means. The Probate Division of this State shall cooperate with the court of the other state in designating an appropriate location for the deposition or testimony.

(c) Documentary evidence transmitted from another state to a Probate Division of the Superior Court of this State by technological means that do not produce an original writing may not be excluded from evidence on an objection based on the best evidence rule.
14A V.S.A. § 502 — VT Code / Title 14A / Chapter 5 / Section 502
§ 502. Spendthrift provision
Status: in_force

(a) A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.

(b) A term of a trust providing that the interest of a beneficiary is held subject to a “spendthrift trust,” or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest.

(c) A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this chapter, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.
14 V.S.A. § 3376 — VT Code / Title 14 / Chapter 118 / Section 3376
§ 3376. Adjustments between principal and income because of taxes
Status: in_force

(a) A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from:

(1) elections and decisions, other than those described in subsection (b) of this section, that the fiduciary makes from time to time regarding tax matters;

(2) an income tax or any other tax that is imposed upon the fiduciary or a beneficiary as a result of a transaction involving or a distribution from the estate or trust; or

(3) subject to subsection (b) of this section, the ownership by an estate or trust of an interest in an entity whose taxable income, whether or not distributed, is includable in the taxable income of the estate, trust, or a beneficiary.

(b) A trustee shall make an adjustment from principal to income to compensate an income beneficiary for taxes paid or payable by the income beneficiary in respect of the taxable income of an entity that is taxable to the income beneficiary but that is distributed to the trustee and allocated to principal.

(c) If the amount of an estate tax marital deduction or charitable contribution deduction is reduced because a fiduciary deducts an amount paid from principal for income tax purposes instead of deducting it for estate tax purposes, and as a result estate taxes paid from principal are increased and income taxes paid by an estate, trust, or beneficiary are decreased, each estate, trust, or beneficiary that benefits from the decrease in income tax shall reimburse the principal from which the increase in estate tax is paid. The total reimbursement shall equal the increase in the estate tax to the extent that the principal used to pay the increase would have qualified for a marital deduction or charitable contribution deduction but for the payment. The proportionate share of the reimbursement for each estate, trust, or beneficiary whose income taxes are reduced shall be the same as its proportionate share of the total decrease in income tax. An estate or trust shall reimburse principal from income.
14A V.S.A. § 1008 — VT Code / Title 14A / Chapter 10 / Section 1008
§ 1008. Exculpation of trustee
Status: in_force

(a) A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it:

(1) relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries; or

(2) was inserted as the result of an abuse by the trustee of a fiduciary or confidential relationship to the settlor.

(b) An exculpatory term drafted or caused to be drafted by the trustee is invalid as an abuse of a fiduciary or confidential relationship unless the trustee proves that the exculpatory term is fair under the circumstances and that its existence and contents were adequately communicated to the settlor.
14 V.S.A. § 1657 — VT Code / Title 14 / Chapter 75 / Section 1657
§ 1657. Real estate sold to pay legacy
Status: in_force

When the personal property of the estate is insufficient to satisfy a legacy given by will, the executor may be licensed by the Probate Division of the Superior Court to sell real estate of the estate for the purpose of paying the legacy.
14A V.S.A. § 707 — VT Code / Title 14A / Chapter 7 / Section 707
§ 707. Delivery of property by former trustee
Status: in_force

(a) Unless a cotrustee remains in office or the Probate Division of the Superior Court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.

(b) A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee's possession to the cotrustee, successor trustee, or other person entitled to it.
14 V.S.A. § 4017 — VT Code / Title 14 / Chapter 127 / Section 4017
§ 4017. Agent's liability
Status: in_force

An agent who violates this chapter is liable to the principal or the principal's successors in interest for the amount required to:

(1) restore the value of the principal's property to what it would have been had the violation not occurred;

(2) reimburse the principal or the principal's successors in interest for the attorney's fees and costs paid on the agent's behalf;

(3) reimburse the reasonable attorney's fees and costs incurred by the principal or the principal's successor in interest in pursuing rectification of the violation by the agent; and

(4) pay such other amounts, damages, costs, or expenses that the court may award.
14 V.S.A. § 2804 — VT Code / Title 14 / Chapter 111 / Section 2804
§ 2804. Court may order estate paid to guardian in other state
Status: in_force

When a minor or other person having a guardian appointed by a Probate Division of the Superior Court in this State, has a guardian in another state or country, and it appears to the Probate Division of the Superior Court having jurisdiction in this State that it is necessary and would be beneficial to the interests of such ward to use a part or all of his or her estate in this State to protect his or her interests and property in the other state or country, such court may order the guardian in this State to pay over to the guardian in the other state or country such part of the ward's estate in this State as may be necessary to protect the ward's interests in such other state or country. Such an order shall not be made unless it appears to the Probate Division of the Superior Court that the guardian in such other state or country has by bond or otherwise given satisfactory security for the faithful execution of his or her trust.
14A V.S.A. § 1316 — VT Code / Title 14A / Chapter 13 / Section 1316
§ 1316. Office of trust director
Status: in_force

Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters:

(1) acceptance under section 701 of this title;

(2) giving of bond to secure performance under section 702 of this title;

(3) reasonable compensation under section 708 of this title;

(4) resignation under section 705 of this title;

(5) removal under section 706 of this title; and

(6) vacancy and appointment of successor under section 704 of this title.
14 V.S.A. § 2924 — VT Code / Title 14 / Chapter 111 / Section 2924
§ 2924. Same; exception
Status: in_force

Section 2923 of this title shall not apply if the parent of the ward, being a resident of this State at the time of death, has appointed a guardian for the ward by last will and testament and the guardian resides in this State at the time the petition provided for in section 2923 is made, unless the consent of the testamentary guardian to the removal of the property is satisfactorily shown to the Probate Division of the Superior Court to which the petition is made.
14 V.S.A. § 4034 — VT Code / Title 14 / Chapter 127 / Section 4034
§ 4034. Real property
Status: in_force

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to real property authorizes the agent to:

(1) demand, buy, lease, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject an interest in real property or a right incident to real property;

(2) sell; exchange; convey, with or without covenants, representations, or warranties; quitclaim; release; surrender; retain title for security; encumber; partition; consent to partitioning; subject to an easement or covenant; subdivide; apply for zoning or other governmental permits; plat or consent to platting; develop; grant an option concerning; lease; sublease; contribute to an entity in exchange for an interest in that entity; or otherwise grant or dispose of an interest in real property or a right incident to real property;

(3) pledge or mortgage an interest in real property or right incident to real property as security to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;

(4) release, assign, satisfy, or enforce by litigation or otherwise a mortgage, deed of trust, conditional sale contract, encumbrance, lien, or other claim to real property that exists or is asserted;

(5) manage or conserve an interest in real property or a right incident to real property owned or claimed to be owned by the principal, including:

(A) insuring against liability or casualty or other loss;

(B) obtaining or regaining possession of or protecting the interest or right by litigation or otherwise;

(C) paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with them; and

(D) purchasing supplies, hiring assistance or labor, and making repairs or alterations to the real property;

(6) use, develop, alter, replace, remove, erect, or install structures or other improvements upon real property in or incident to which the principal has, or claims to have, an interest or right;

(7) participate in a reorganization with respect to real property or an entity that owns an interest in or right incident to real property and receive, and hold, and act with respect to stocks and bonds or other property received in a plan of reorganization, including:

(A) selling or otherwise disposing of them;

(B) exercising or selling an option, right of conversion, or similar right with respect to them; and

(C) exercising any voting rights in person or by proxy;

(8) change the form of title of an interest in or right incident to real property;

(9) dedicate to public use, with or without consideration, easements or other real property in which the principal has, or claims to have, an interest; and

(10) relinquish any and all of the principal's rights of homestead under 27 V.S.A. § 105 and elective share under section 323 of this title.
14 V.S.A. § 3327 — VT Code / Title 14 / Chapter 118 / Section 3327
§ 3327. Severability clause
Status: in_force

If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable.
14A V.S.A. § 506 — VT Code / Title 14A / Chapter 5 / Section 506
§ 506. Overdue distribution
Status: in_force

(a) In this section, “mandatory distribution” means a distribution of income or principal which the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust. The term does not include a distribution subject to the exercise of the trustee's discretion even if:

(1) the discretion is expressed in the form of a standard of distribution; or

(2) the terms of the trust authorizing a distribution couple language of discretion with language of direction.

(b) Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date.
14 V.S.A. § 323 — VT Code / Title 14 / Chapter 42 / Section 323
§ 323. Written waiver of spousal rights
Status: in_force

(a) At any time before or during a marriage, a spouse may waive the right to an elective share of a deceased spouse's estate, waive the right to a homestead or other allowance, and waive any other spousal rights or interest in property, in whole or in part, by a written instrument signed by the waiving spouse.

(b) A written waiver of spousal rights is presumed to be valid unless the party contesting the waiver demonstrates that:

(1) the waiver was not voluntary, or was made as a result of fraud, duress, or coercion;

(2) the waiver was unconscionable when signed or is unconscionable in its application due to a material change in circumstances that arose subsequent to the execution of the instrument through no fault or no action of the contesting party;

(3) before signing the waiver, the waiving spouse was not provided fair and reasonable disclosure of the property and financial obligations of the decedent; or

(4) before signing the waiver, the waiving spouse did not have an opportunity for meaningful access to independent counsel.

(c) A waiver under this section may be signed on behalf of a waiving spouse by a guardian or by an agent or an attorney-in-fact under a power of attorney that:

(1) expressly grants the authority to make the election; or

(2)(A) grants the agent or attorney-in-fact the authority to act in the management and disposition of the principal's property that is as broad or comprehensive as the principal could exercise for himself or herself; and

(B) does not expressly exclude the authority to make the election.

(d) An agent or attorney-in-fact may petition the Probate Division of the Superior Court to determine whether a power of attorney described in subdivision (c)(2) grants the agent or attorney-in-fact authority that is as broad or comprehensive as that which the principal could exercise for himself or herself.
14 V.S.A. § 1410 — VT Code / Title 14 / Chapter 71 / Section 1410
§ 1410. Representative may compromise claims of the estate
Status: in_force

With the approval of the Probate Division of the Superior Court, an executor or administrator may compromise with a debtor of the deceased for a debt due and may give a discharge of the debt on receiving payment of the compromised amount.
14A V.S.A. § 817 — VT Code / Title 14A / Chapter 8 / Section 817
§ 817. Distribution upon termination
Status: in_force

(a) Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within 30 days after the proposal was sent but only if the proposal informed the beneficiary of the right to object and of the time allowed for objection.

(b) Upon the occurrence of an event terminating or partially terminating a trust, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to it, subject to the right of the trustee to retain a reasonable reserve for the payment of debts, expenses, and taxes.

(c) A release by a beneficiary of a trustee from liability for breach of trust is invalid to the extent:

(1) it was induced by improper conduct of the trustee; or

(2) the beneficiary, at the time of the release, did not know of the beneficiary's rights or of the material facts relating to the breach.
14 V.S.A. § 1726 — VT Code / Title 14 / Chapter 77 / Section 1726
§ 1726. Advancement reckoned toward share of representative of deceased heir
Status: in_force

If the recipient of an advancement dies before the decedent, the advancement shall be reckoned against the share of those interested in the estate by right of representation of the recipient, as it would be reckoned toward the share of the recipient, if living.
14A V.S.A. § 1310 — VT Code / Title 14A / Chapter 13 / Section 1310
§ 1310. Duty to provide information to trust director or trustee
Status: in_force

(a) Subject to section 1311 of this title, a trustee shall provide information to a trust director to the extent the information is reasonably related both to:

(1) the powers or duties of the trustee; and

(2) the powers or duties of the director.

(b) Subject to section 1311 of this title, a trust director shall provide information to a trustee or another trust director to the extent the information is reasonably related both to:

(1) the powers or duties of the director; and

(2) the powers or duties of the trustee or other director.

(c) A trustee that acts in reliance on information provided by a trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trustee engages in intentional misconduct.

(d) A trust director that acts in reliance on information provided by a trustee or another trust director is not liable for a breach of trust to the extent the breach resulted from the reliance, unless by so acting the trust director engages in intentional misconduct.
14A V.S.A. § 1102 — VT Code / Title 14A / Chapter 11 / Section 1102
§ 1102. Trust advisors and trust protectors as fiduciaries
Status: reserved

(a) A trust advisor or trust protector is a fiduciary with respect to each power granted to such trust advisor or trust protector. In exercising any power or refraining from exercising any power, a trust advisor or trust protector shall act in good faith and in accordance with the terms and purposes of the trust and the interests of the beneficiaries.

(b) A trust advisor or trust protector is an excluded fiduciary with respect to each power granted or reserved exclusively to any one or more other trustees, trust advisors, or trust protectors.
14 V.S.A. § 4038 — VT Code / Title 14 / Chapter 127 / Section 4038
§ 4038. Banks and other financial institutions
Status: in_force

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to banks and other financial institutions authorizes the agent to:

(1) continue, modify, and terminate an account or other banking arrangement made by or on behalf of the principal;

(2) establish, modify, and terminate an account or other banking arrangement with a bank, trust company, savings and loan association, credit union, thrift company, brokerage firm, or other financial institution selected by the agent;

(3) contract for services available from a financial institution, including renting a safe deposit box or space in a vault;

(4) withdraw, by check, order, electronic funds transfer, or otherwise, money or property of the principal deposited with or left in the custody of a financial institution;

(5) receive statements of account, vouchers, notices, and similar documents from a financial institution and act with respect to them;

(6) enter a safe deposit box or vault and withdraw or add to the contents;

(7) borrow money and pledge as security personal property of the principal necessary to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;

(8) make, assign, draw, endorse, discount, guarantee, and negotiate promissory notes, checks, drafts, and other negotiable or nonnegotiable paper of the principal or payable to the principal or the principal's order; transfer money; receive the cash or other proceeds of those transactions; and accept a draft drawn by a person upon the principal and pay it when due;

(9) receive for the principal and act upon a sight draft, warehouse receipt, or other document of title whether tangible or electronic, or other negotiable or nonnegotiable instrument;

(10) apply for, receive, and use letters of credit, credit and debit cards, electronic transaction authorizations, and traveler's checks from a financial institution and give an indemnity or other agreement in connection with letters of credit; and

(11) consent to an extension of the time of payment with respect to commercial paper or a financial transaction with a financial institution.
14 V.S.A. § 3232 — VT Code / Title 14 / Chapter 115 / Section 3232
§ 3232. Effect on existing custodianships
Status: in_force

(a) Any transfer of custodial property as now defined in this chapter made before July 1, 2015 is validated, notwithstanding that there was no specific authority in the Vermont Uniform Gifts to Minors Act for the coverage of custodial property of that kind or for a transfer from that source at the time the transfer was made.

(b) This chapter applies to all transfers made before July 1, 2015 in a manner and form prescribed in the Vermont Uniform Gifts to Minors Act, except insofar as the application impairs constitutionally vested rights or extends the duration of custodianships in existence on July 15, 2015.
14 V.S.A. § 335 — VT Code / Title 14 / Chapter 42 / Section 335
§ 335. Beneficiary dying before testator; descendants to take
Status: in_force

When a testamentary gift is made to a child or other kindred of the testator, and the designated beneficiary dies before the testator, leaving one or more descendants who survive the testator, the descendants shall take the gift that the designated beneficiary would have taken if the designated beneficiary had survived the testator, unless a different disposition is required by the will.
14 V.S.A. § 3004 — VT Code / Title 14 / Chapter 111 / Section 3004
§ 3004. Court may revoke
Status: in_force

Upon hearing, if the Probate Division of the Superior Court is of the opinion that the parent is then a proper person to have the care and custody of the child, it shall revoke the guardianship and order the guardian to deliver the custody of the child to the parent within a time it judges reasonable.
14 V.S.A. § 910 — VT Code / Title 14 / Chapter 61 / Section 910
§ 910. When executor is a minor
Status: in_force

When a person named as executor in a will is under age at the time of proving the will, issuance of letters of administration may be granted to another executor named in the will, who accepts appointment and gives the required bond, or to another suitable person if he or she fails to accept appointment or to post bond. A minor who attains the age of legal majority during the estate administration shall not displace the incumbent executor or administrator, but if a vacancy occurs during administration, the former minor may apply to the court for appointment as successor executor or administrator.
14 V.S.A. § 3103 — VT Code / Title 14 / Chapter 113 / Section 3103
§ 3103. Application
Status: in_force

Whenever, pursuant to any law of the United States or regulation of the Veterans' Administration, it is necessary, prior to payment of benefits, that a guardian be appointed, the appointment may be made in the manner hereinafter provided.
14 V.S.A. § 2921 — VT Code / Title 14 / Chapter 111 / Section 2921
§ 2921. Accounts, time
Status: in_force

Within one year after his or her appointment and annually thereafter and at such other times as the Probate Division of the Superior Court directs, a guardian whose ward has real or personal estate shall render and settle with the court an account of the proceeds and expenditure of his or her ward's estate. At the expiration of his or her trust, such guardian shall render and settle with the Probate Division of the Superior Court his or her account of the property of his or her ward, including the income and proceeds of the sale of his or her personal and real estate, and pay over and deliver to persons entitled to the same the estate and effects remaining in his or her hands, or due from him or her on such settlements.
14 V.S.A. § 3351 — VT Code / Title 14 / Chapter 118 / Section 3351
§ 3351. Character of receipts
Status: in_force

(a) As used in this section, “entity” means a corporation, partnership, limited liability company, regulated investment company, real estate investment trust, common trust fund, or any other organization in which a trustee has an interest other than a trust or estate to which section 3352 of this title applies, a business or activity to which section 3353 of this title applies, or an asset-backed security to which section 3365 of this title applies.

(b) Except as otherwise provided in this section, a trustee shall allocate to income money received from an entity, including reinvested cash dividends.

(c) A trustee shall allocate the following receipts from an entity to principal:

(1) property other than money, excluding reinvested cash dividends, provided that if the trustee may elect between money and other property as a distribution, property so elected and distributed shall retain its character as income;

(2) money received in one distribution or a series of related distributions in exchange for part or all of a trust's interest in the entity;

(3) money received in total or partial liquidation of the entity;

(4) money received from an entity that is a regulated investment company or a real estate investment trust if the money distributed is a capital gain dividend for federal income tax purposes; and

(5) capital gains and capital gains distributions.

(d) Money is received in partial liquidation:

(1) to the extent that the entity, at or near the time of a distribution, indicates that it is a distribution in partial liquidation; or

(2) if the total amount of money and property received in a distribution or series of related distributions is greater than 20 percent of the entity's gross assets, as shown by the entity's year-end financial statements immediately preceding the initial receipt.

(e) Money is not received in partial liquidation, nor may it be taken into account under subdivision (d)(2) of this section, to the extent that it does not exceed the amount of income tax that a trustee or beneficiary must pay on taxable income of the entity that distributes the money.

(f) A trustee may rely upon a statement made by an entity about the source or character of a distribution if the statement is made at or near the time of distribution by the entity's board of directors or other person or group of persons authorized to exercise powers to pay money or transfer property comparable to those of a corporation's board of directors.
14 V.S.A. § 2962 — VT Code / Title 14 / Chapter 111 / Section 2962
§ 2962. Good faith
Status: in_force

A person who has acted in good faith as guardian under an appointment void or voidable may render an account as guardian to the court in which the proceeding is pending. If it appears that the person accepted and acted under appointment in good faith and has executed the supposed trust as required by law, the court shall confirm the acts, allow the accounts, and allow full compensation for the services of the person, and may allow and confirm all accounts of the person, which have been previously examined and allowed if the accounts are found correct and just.
14 V.S.A. § 1724 — VT Code / Title 14 / Chapter 77 / Section 1724
§ 1724. Advancement reckoned toward heir's share
Status: in_force

If the amount advanced exceeds the share of the heir or other estate beneficiary, he or she shall be excluded from any further share in the estate but shall not be liable to refund any part of the amount advanced. If the advancement is less than the share of the heir or other estate beneficiary, he or she shall receive a further sum that, with the advancement, equals his or her legal share in the estate.
14A V.S.A. § 103 — VT Code / Title 14A / Chapter 1 / Section 103
§ 103. Definitions
Status: in_force

In this title:

(1) “Action,” with respect to an act of a trustee, includes a failure to act.

(2) “Ascertainable standard” means a standard relating to an individual's health, education, support, or maintenance within the meaning of Section 2041(b)(1)(A) or 2514(c)(1) of the Internal Revenue Code of 1986, as in effect on the effective date of this title.

(3) “Beneficiary” means a person that:

(A) has a present or future beneficial interest in a trust, vested or contingent; or

(B) in a capacity other than that of trustee, holds a power of appointment over trust property.

(4) “Charitable trust” means a trust, or portion of a trust, created for a charitable purpose described in subsection 405(a) of this title.

(5) “Conservator” shall have the same meaning as “Guardian of the property” under subdivision 7(A)(ii) of this section.

(6) “Environmental law” means a federal, state, or local law, rule, regulation, or ordinance relating to protection of the environment.

(7)(A) “Guardian.”

(i) “Guardian of the person” means a person appointed by the Probate Division of the Superior Court to make decisions regarding the support, care, education, health, and welfare of a minor or adult individual.

(ii) “Guardian of the property” means a person appointed by the Probate Division of the Superior Court to administer the estate of a minor or adult individual.

(B) Neither term includes a guardian ad litem.

(8) “Interests of the beneficiaries” means the beneficial interests provided in the terms of the trust.

(9) “Jurisdiction,” with respect to a geographic area, includes a state or country.

(10) “Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, or government; governmental subdivision, agency, or instrumentality; public corporation, or any other legal or commercial entity.

(11) “Power of withdrawal” means a presently exercisable general power of appointment other than a power:

(A) exercisable by a trustee and limited by an ascertainable standard; or

(B) exercisable by another person only upon consent of the trustee or a person holding an adverse interest.

(12) “Property” means anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest therein.

(13)(A) “Qualified beneficiary” means a beneficiary who, on the date the beneficiary's qualification is determined, is:

(i) a “first tier” beneficiary as a distributee or permissible distributee of trust income or principal;

(ii) a “second tier” beneficiary who would be a first tier beneficiary of trust income or principal if the interests of the distributees described in subdivision (A)(i) of this subdivision (13) terminated on that date without causing the trust to terminate; or

(iii) a “final beneficiary” who would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.

(B) Notwithstanding subdivisions (A)(ii) and (iii) of this subdivision (13), a second tier beneficiary or a final beneficiary shall not be a “qualified beneficiary” if the beneficiary's interest in the trust:

(i) is created by the exercise of a power of appointment and the exercise of the power of appointment is not irrevocable; or

(ii) may be eliminated by an amendment to the trust.

(14) “Revocable,” as applied to a trust, means revocable by the settlor without the consent of the trustee or a person holding an adverse interest.

(15) “Settlor” means a person, including a testator, who creates, or contributes property to, a trust. If more than one person creates or contributes property to a trust, each person is a settlor of the portion of the trust property attributable to that person's contribution except to the extent another person has the power to revoke or withdraw that portion.

(16) “Spendthrift provision” means a term of a trust which restrains both voluntary and involuntary transfer of a beneficiary's interest.

(17) “State” means a state of the United States, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. The term includes a Native American tribe or band recognized by federal law or formally acknowledged by a state.

(18) “Terms of a trust” means the manifestation of the settlor's intent regarding a trust's provisions as expressed in the trust instrument or as may be established by other evidence that would be admissible in a judicial proceeding.

(19) “Trust instrument” means an instrument executed by the settlor that contains terms of the trust, including any amendments to the instrument.

(20) “Trustee” includes an original, additional, and successor trustee, and a cotrustee.
14A V.S.A. § 602 — VT Code / Title 14A / Chapter 6 / Section 602
§ 602. Revocation or amendment of revocable trust
Status: in_force

(a) Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust. This subsection does not apply to a trust created under an instrument executed before the effective date of this title.

(b) If a revocable trust is created or funded by more than one settlor:

(1) to the extent the trust consists of community property or property held by tenants by the entirety when added to the trust, the trust may be revoked by either spouse acting alone but may be amended only by joint action of both spouses;

(2) to the extent the trust consists of property other than community property or property held by tenants by the entirety when added to the trust, each settlor may revoke or amend the trust with regard to the portion of the trust property attributable to that settlor's contribution; and

(3) upon the revocation or amendment of the trust by fewer than all of the settlors, the trustee shall notify the other settlors of the revocation or amendment.

(c) The settlor may revoke or amend a revocable trust:

(1) by substantial compliance with a method provided in the terms of the trust; or

(2) if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by:

(A) executing a later will or codicil that expressly refers to and revokes or amends the trust or specifically devises or bequeaths specific property that would otherwise have passed according to the terms of the trust, or

(B) any other method manifesting clear and convincing evidence of the settlor's intent.

(d) Upon revocation of a revocable trust, the trustee shall deliver the trust property as the settlor directs, but with respect to community property or property held by tenants by the entirety when added to the trust under subdivision (b)(1) of this section, the trustee shall deliver one half of the property to each spouse unless the governing instrument specifically states otherwise.

(e) A settlor's powers with respect to revocation, amendment, or distribution of trust property may be exercised by an agent under a power of attorney only to the extent expressly authorized by the terms of the trust or the power.

(f) A guardian of the property of the settlor or, if no guardian of the property has been appointed, a guardian of the person of the settlor may exercise a settlor's powers with respect to revocation, amendment, or distribution of trust property only with the approval of the Probate Division of the Superior Court supervising the guardianship.

(g) A trustee who does not have actual knowledge that a trust has been revoked or amended is not liable for distributions made and other actions taken on the assumption that the trust had not been amended or revoked.
14 V.S.A. § 2711 — VT Code / Title 14 / Chapter 111 / Section 2711
§ 2711. Nonresidents; powers of guardian
Status: in_force

When on the petition of a nonresident person, or other person interested in the welfare of that person, it appears that the person owns or has an interest in real or personal estate situated in this State, and that the person, if a resident, would be liable to be put under guardianship under any of the provisions of this chapter, the Probate Division of the Superior Court may appoint a guardian as to the property of that person within this State. As to such property, the guardian shall have the same powers, rights, and duties as a guardian appointed for a person residing within the State.
14 V.S.A. § 321 — VT Code / Title 14 / Chapter 42 / Section 321
§ 321. Conveyance to defeat spouse's interest
Status: in_force

(a) A voluntary transfer of any property by an individual during a marriage or civil union and not to take effect until at or after the individual's death, made without adequate consideration and for the primary purpose of defeating a surviving spouse's right to claim the survivor's intestate or elective share of the decedent's property so transferred, shall be void and inoperative to bar the claim, unless the surviving spouse waived the survivor's right to make a claim against the deceased spouse's estate or the property transferred pursuant to section 323 of this title. If the surviving spouse has not signed a waiver of spousal rights pursuant to section 323 of this title, then the decedent shall be deemed at the time of his or her death to be the owner of the property and the court may:

(1) increase the surviving spouse's share of the decedent's probate estate in an amount the court deems reasonable to account for the right the surviving spouse would otherwise have had in the property so transferred; or

(2) if the assets of the decedent's probate estate are insufficient to account for the right the surviving spouse would otherwise have had in the property, then order any other equitable relief the court deems appropriate.

(b) Neither this section nor any other provision of this title shall be construed to affect an enhanced life estate deed. As used in this subsection, “enhanced life estate deed,” also known as a “Ladybird deed,” shall mean a deed that conveys a future interest in real estate that is revocable or otherwise subject to limitation, with the transfer of the remaining title rights to take place when the grantor dies.
14 V.S.A. § 333 — VT Code / Title 14 / Chapter 42 / Section 333
§ 333. Share of child or descendant of child omitted from will
Status: in_force

When a testator omits to provide in the testator's will for any child of the testator, or for the descendants of a deceased child, and it appears that the omission was made by mistake or accident, the child or descendants, as the case may be, shall have and be assigned the same share of the estate of the testator as if the testator had died intestate.
14 V.S.A. § 2655 — VT Code / Title 14 / Chapter 111 / Section 2655
§ 2655. Parent may have custody of person
Status: in_force

Either parent may have the custody of the person and care of the education of the minor, if the court, at the time of appointing a guardian of the minor, deems the parent to be competent and suitable for that purpose. If the court deems a parent incompetent or unsuitable, it shall direct accordingly in the letters of guardianship. In its discretion, at any time during the continuance of the guardianship, the court may change the custody of a minor, upon notice and after hearing, if the court finds the person having custody incompetent or unsuitable.
14 V.S.A. § 1740 — VT Code / Title 14 / Chapter 77 / Section 1740
§ 1740. Payment of expenses; from estate, if sufficient
Status: in_force

At the time of partition or distribution of an estate, if the executor or administrator has retained sufficient assets that may lawfully be applied for that purpose, the expenses of partition or distribution may be paid by the executor or administrator when it appears to the court equitable and not inconsistent with the intention of a testator.
14A V.S.A. § 410 — VT Code / Title 14A / Chapter 4 / Section 410
§ 410. Modification or termination of trust; proceedings for approval or disapproval
Status: in_force

(a) In addition to the methods of termination prescribed by sections 411 through 414 of this title, a trust terminates to the extent the trust is revoked or expires pursuant to its terms, no purpose of the trust remains to be achieved, or the purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.

(b) A proceeding to approve or disapprove a proposed modification or termination under sections 411 through 416 of this title, or trust combination or division under section 417 of this title, may be commenced by a trustee or beneficiary, and a proceeding to approve or disapprove a proposed modification or termination under section 411 of this title may be commenced by the settlor. The settlor of a charitable trust may maintain a proceeding to modify the trust under section 413 of this title.
14 V.S.A. § 3192 — VT Code / Title 14 / Chapter 114 / Section 3192
§ 3192. Relation to electronic signatures in global and National Commerce Act
Status: in_force

This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede section 101(c) of that act, 15 U.S.C. § 7001(c), or authorize electronic delivery of any of the notices described in section 103(b) of that act, 15 U.S.C. § 7003(b).
14 V.S.A. § 1204 — VT Code / Title 14 / Chapter 66 / Section 1204
§ 1204. Manner of presentation of claims
Status: in_force

Claims against a decedent's estate may be presented as follows:

(1) The claimant shall deliver to the executor or administrator a written statement of the claim indicating its basis, the name and address of the claimant, and the amount claimed, and shall file a copy of the claim with the Probate Division of the Superior Court. The claim is deemed presented on the first to occur of receipt of the written statement of claim by the executor or administrator, or the filing of the copy of the claim with the court. If a claim is not yet due, the date when it will become due shall be stated. If the claim is contingent or unliquidated, the nature of the uncertainty shall be stated. If the claim is secured, the security shall be described. Failure to describe correctly the security, the nature of any uncertainty, and the due date of a claim not yet due does not invalidate the claim made.

(2) The claimant may commence a proceeding against the executor or administrator in any court where the executor or administrator may be subjected to jurisdiction, to obtain payment of the claim against the estate, but the commencement of the proceeding must occur within the time limited for presenting the claim. No presentation of claim is required in regard to matters claimed in proceedings against the decedent that were pending at the time of death.

(3) If a claim is presented under subdivision (1) of this section, no proceeding thereon may be commenced more than 60 days after the executor or administrator has mailed a notice of disallowance; but, in the case of a claim that is not presently due or that is contingent or unliquidated, the executor or administrator may consent to an extension of the 60-day period, or to avoid injustice, the court, on motion, may order an extension of the 60-day period, but in no event shall the extension run beyond the applicable statute of limitations.
14A V.S.A. § 1311 — VT Code / Title 14A / Chapter 13 / Section 1311
§ 1311. No duty to monitor, inform, or advise
Status: in_force

(a) Unless the terms of a trust provide otherwise:

(1) a trustee does not have a duty to:

(A) monitor a trust director; or

(B) inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the director; and

(2) by taking an action described in subdivision (1) of this subsection, a trustee does not assume the duty excluded by subdivision (1) of this subsection.

(b) Unless the terms of a trust provide otherwise:

(1) a trust director does not have a duty to:

(A) monitor a trustee or another trust director; or

(B) inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and

(2) by taking an action described in subdivision (1) of this subsection, a trust director does not assume the duty excluded by subdivision (1) of this subsection.
14 V.S.A. § 3182 — VT Code / Title 14 / Chapter 114 / Section 3182
§ 3182. Registration of protective orders
Status: in_force

If a conservator has been appointed in another state and a petition for a protective order is not pending in this State, the conservator appointed in the other state, after giving notice to the appointing court of an intent to register, may register the protective order in this State by filing as a foreign judgment in a Probate Division of the Superior Court of this State, in any county of this State in which property belonging to the protected person is located, certified copies of the order and letters of office and of any bond.
14A V.S.A. § 1309 — VT Code / Title 14A / Chapter 13 / Section 1309
§ 1309. Duty and liability of directed trustee
Status: in_force

(a) Subject to subsection (b) of this section, a directed trustee shall take reasonable action to comply with a trust director's exercise or nonexercise of a power of direction or further power under subdivision 1306(b)(1) of this title, and the trustee is not liable for the action.

(b) A directed trustee shall not comply with a trust director's exercise or nonexercise of a power of direction or further power under subdivision 1306(b)(1) of this title to the extent that by complying the trustee would engage in intentional misconduct.

(c) An exercise of a power of direction under which a trust director may release a trustee or another trust director from liability for breach of trust is not effective if:

(1) the breach involved the trustee's or other director's intentional misconduct;

(2) the release was induced by improper conduct of the trustee or other director in procuring the release; or

(3) at the time of the release, the director did not know the material facts relating to the breach.

(d) A directed trustee that has reasonable doubt about its duty under this section may petition the Probate Division of the Superior Court for instructions.

(e) The terms of a trust may impose a duty or liability on a directed trustee in addition to the duties and liabilities under this section.
14 V.S.A. § 904 — VT Code / Title 14 / Chapter 61 / Section 904
§ 904. Nonresident executor or administrator
Status: in_force

(a) In all cases where the principal administration is in this State, the Probate Division of the Superior Court shall appoint an executor or administrator who is not domiciled in this State only at the discretion of the court.

(b) Any nonresident estate fiduciary shall forthwith designate in writing a resident of this State who accepts appointment as the resident agent of the nonresident estate fiduciary and agrees to accept service of legal process and other communications on behalf of the executor or administrator. The appointment and acceptance shall be filed with the court. Service of legal process against the nonresident executor or administrator may be accomplished by serving the resident agent.
14A V.S.A. § 702 — VT Code / Title 14A / Chapter 7 / Section 702
§ 702. Trustee's bond
Status: in_force

(a) A trustee shall give bond to secure performance of the trustee's duties only if the Probate Division of the Superior Court finds that a bond is required by the terms of the trust and the Probate Division of the Superior Court has not dispensed with the requirement, or the Probate Division of the Superior Court finds by clear and convincing evidence that a bond is needed to protect the interests of the beneficiaries.

(b) The Probate Division of the Superior Court may specify the amount of a bond, its liabilities, and whether sureties are necessary. The Probate Division of the Superior Court may modify or terminate a bond at any time.
14 V.S.A. § 2842 — VT Code / Title 14 / Chapter 111 / Section 2842
§ 2842. Realty to be taken when personalty exhausted
Status: in_force

The personal estate of the ward shall be first used for the payment of his or her debts. If the personal estate and the income of his or her real estate are not sufficient, such expenses and debts shall be paid out of the real estate, when sold, according to law.
14 V.S.A. § 1412 — VT Code / Title 14 / Chapter 71 / Section 1412
§ 1412. Claim between executor and estate
Status: in_force

When a claim exists between an executor or administrator and the estate, a special administrator may be appointed solely for the purpose of acting upon that claim.
14 V.S.A. § 961 — VT Code / Title 14 / Chapter 61 / Section 961
§ 961. Special administrator; appointment when estate jeopardized; conduct of business
Status: in_force

When the interests of the estate of a deceased person will be jeopardized by the delay intervening between death and the appointment of an administrator or executor, the Probate Division of the Superior Court may, upon motion of an heir or next of kin, appoint a special administrator to act until an administrator or executor is appointed and qualified. The special administrator may continue operation of the business conducted by the deceased, including application for and operating under the transfer of any license held by the deceased for the dispensing of alcoholic beverages.
14A V.S.A. § 404 — VT Code / Title 14A / Chapter 4 / Section 404
§ 404. Trust purposes
Status: in_force

A trust may be created only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve. A trust and its terms must be for the benefit of its beneficiaries.
14A V.S.A. § 304 — VT Code / Title 14A / Chapter 3 / Section 304
§ 304. Representation by person having substantially identical interest
Status: in_force

Unless otherwise represented, a minor, incapacitated, or unborn individual, or a person whose identity or location is unknown and not reasonably ascertainable, may be represented by and bound by another having a substantially identical interest with respect to the particular question or dispute, but only to the extent there is no conflict of interest with respect to the particular question between the representative and the person represented.
14 V.S.A. § 3559 — VT Code / Title 14 / Chapter 125 / Section 3559
§ 3559. Disclosure of content of electronic communications of principal
Status: in_force

To the extent a power of attorney expressly grants an agent authority over the content of electronic communications sent or received by the principal, and unless directed otherwise by the principal or the court, a custodian shall disclose the content of the electronic communication to the agent if the agent gives the custodian:

(1) a written request for disclosure in physical or electronic form;

(2) an original or copy of the power of attorney expressly granting the agent authority over the content of electronic communications of the principal;

(3) a certification by the agent, under penalty of perjury, that the power of attorney is in effect; and

(4) if requested by the custodian:

(A) a number, username, address, or other unique subscriber or account identifier assigned by the custodian to identify the principal's account; or

(B) evidence linking the account to the principal.
14A V.S.A. § 1408 — VT Code / Title 14A / Chapter 14 / Section 1408
§ 1408. Representation
Status: in_force

(a) Notice to a person with authority to represent and bind another person under a first trust instrument or the Vermont Trust Code has the same effect as notice given directly to the person represented.

(b) Consent of or waiver by a person with authority to represent and bind another person under a first-trust instrument or the Vermont Trust Code is binding on the person represented unless the person represented objects to the representation before the consent or waiver otherwise would become effective.

(c) A person with authority to represent and bind another person under a first-trust instrument or the Vermont Trust Code may file an application under section 1409 of this title on behalf of the person represented.

(d) A settlor shall not represent or bind a beneficiary under this chapter unless the settlor represents a minor or unborn child under subdivision 303(6) of this title.
14 V.S.A. § 3092 — VT Code / Title 14 / Chapter 111 / Section 3092
§ 3092. Appointment of the Office of Public Guardian
Status: in_force

(a) The Office of Public Guardian may be nominated and appointed to serve as guardian, under subchapter 12 of this chapter, of a person who is 60 years of age or older if the court determines that there is no suitable private guardian qualified and willing to accept the guardianship appointment and the appointment will not result in the Office having more appointments than permitted by rules adopted under section 3091 of this title.

(b) Neither the Office of Public Guardian or its designees may petition for guardianship.

(c) The Office of Public Guardian may combine the bonding requirement under section § 2751 of this title for some or all of its wards by purchasing a bond in an amount equal to or greater than the aggregate sum of the resources of the wards for whom the bond is issued. The amount of this bond shall be adjusted as necessary to reflect fluctuations in the aggregate amount of wards' resources.
14 V.S.A. § 106 — VT Code / Title 14 / Chapter 3 / Section 106
§ 106. Duty of custodian of will; liability
Status: in_force

(a) After the death of a testator and on request of an interested person, a person having custody of a will of the testator shall deliver it with reasonable promptness to an appropriate court. A person who intentionally refuses or fails to deliver a will after being ordered to do so by the court in a proceeding brought for the purpose of compelling delivery may be subject to proceedings for civil contempt under 12 V.S.A. § 122.

(b) A person who suffers damages as a result of another person's intentional failure to deliver a will shall have an action in Superior Court for damages and injunctive relief.
14 V.S.A. § 2648 — VT Code / Title 14 / Chapter 111 / Section 2648
§ 2648. Parent may be appointed guardian
Status: in_force

When a parent is authorized to act as guardian and the appointment of a guardian is required, such parent may be appointed if approved by the court.
14 V.S.A. § 3167 — VT Code / Title 14 / Chapter 114 / Section 3167
§ 3167. Jurisdiction declined by reason of conduct
Status: in_force

(a) If at any time a Probate Division of the Superior Court of this State determines that it acquired jurisdiction to appoint a guardian or issue a protective order because of unjustifiable conduct, the court may:

(1) decline to exercise jurisdiction;

(2) exercise jurisdiction for the limited purpose of fashioning an appropriate remedy to ensure the health, safety, and welfare of the respondent or the protection of the respondent's property or prevent a repetition of the unjustifiable conduct, including staying the proceeding until a petition for the appointment of a guardian or issuance of a protective order is filed in a court of another state having jurisdiction; or

(3) continue to exercise jurisdiction after considering:

(A) the extent to which the respondent and all persons required to be notified of the proceedings have acquiesced in the exercise of the Probate Division's jurisdiction;

(B) whether it is a more appropriate forum than the court of any other state under the factors set forth in subsection 3166(c) of this title; and

(C) whether the court of any other state would have jurisdiction under factual circumstances in substantial conformity with the jurisdictional standards of section 3163 of this title.

(b) If a Probate Division of the Superior Court of this State determines that it acquired jurisdiction to appoint a guardian or issue a protective order because a party seeking to invoke its jurisdiction engaged in unjustifiable conduct, it may assess against the party necessary and reasonable expenses, including attorney's fees, investigative fees, court costs, communication expenses, witness fees and expenses, and travel expenses. The court may not assess fees, costs, or expenses of any kind against this State or a governmental subdivision, agency, or instrumentality of this State unless authorized by law other than this chapter.
14 V.S.A. § 2751 — VT Code / Title 14 / Chapter 111 / Section 2751
§ 2751. Bonds; how conditioned
Status: in_force

Before acting as such, a guardian appointed by the Probate Division of the Superior Court shall give a bond with sureties in a sum as the court directs, conditioned as follows:

(1) to make a true inventory of the real and personal estate of the ward coming to the guardian's possession or knowledge and file the original with the court and serve copies of it as provided by the Rules of Probate Procedure;

(2) to manage and dispose of the estate and effects according to law and for the best interest of the ward and faithfully discharge the trust in relation thereto;

(3) to render an account of the property of the ward in the guardian's hands, including the proceeds of real estate sold by the guardian, and of the management and disposition of the same, within one year after appointment, if the ward has real or personal estate, or within one year after such estate comes to the guardian's possession or knowledge, and at other times as the court directs;

(4) at the expiration of the trust, to render and settle the account and pay over and deliver the estate and effects remaining in the guardian's hands or due from settlement to the persons legally entitled to the same.
14A V.S.A. § 411 — VT Code / Title 14A / Chapter 4 / Section 411
§ 411. Modification or termination of noncharitable irrevocable trust by consent
Status: in_force

(a) A noncharitable irrevocable trust may be modified or terminated upon consent of the settlor and all beneficiaries, even if the modification or termination is inconsistent with a material purpose of the trust. If, upon petition, the Probate Division of the Superior Court finds that the settlor and all beneficiaries consent to the modification or termination of a noncharitable irrevocable trust, the Probate Division of the Superior Court shall approve the modification or termination even if the modification or termination is inconsistent with a material purpose of the trust. A settlor's power to consent to a trust's modification or termination may be exercised by an agent under a power of attorney only to the extent expressly authorized by the power of attorney or the terms of the trust; by the settlor's guardian of the property with the approval of the Probate Division of the Superior Court supervising the guardianship if an agent is not so authorized; or by the settlor's guardian of the person with the approval of the Probate Division of the Superior Court supervising the guardianship if an agent is not so authorized and a guardian of the property has not been appointed.

(b) A noncharitable irrevocable trust may be terminated upon consent of all of the beneficiaries if the Probate Division of the Superior Court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust. A noncharitable irrevocable trust may be modified upon consent of all of the beneficiaries if the Probate Division of the Superior Court concludes that modification is not inconsistent with a material purpose of the trust.

(c) A spendthrift provision in the terms of the trust is not presumed to constitute a material purpose of the trust.

(d) Upon termination of a trust under subsection (a) or (b) of this section, the trustee shall distribute the trust property as agreed by the beneficiaries.

(e) If not all of the beneficiaries consent to a proposed modification or termination of the trust under subsection (a) or (b) of this section, the modification or termination may be approved by the Probate Division of the Superior Court if the Probate Division of the Superior Court is satisfied that:

(1) if all of the beneficiaries had consented, the trust could have been modified or terminated under this section; and

(2) the interests of a beneficiary who does not consent will be adequately protected.
14A V.S.A. § 1006 — VT Code / Title 14A / Chapter 10 / Section 1006
§ 1006. Reliance on trust instrument
Status: in_force

A trustee who acts in reasonable reliance on the terms of the trust as expressed in the trust instrument is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance.
14 V.S.A. § 4003 — VT Code / Title 14 / Chapter 127 / Section 4003
§ 4003. Applicability
Status: in_force

This chapter applies to all powers of attorney except:

(1) a power to the extent it is coupled with an interest in the subject of the power, including a power given to or for the benefit of a creditor in connection with a credit transaction;

(2) a power to make health-care decisions;

(3) a proxy or other delegation to exercise voting rights or management rights with respect to an entity;

(4) a power created on a form prescribed by a government or governmental subdivision, agency, or instrumentality for a governmental purpose; and

(5) a power of reciprocal insurers under 8 V.S.A. § 4838.
14 V.S.A. § 2664 — VT Code / Title 14 / Chapter 111 / Section 2664
§ 2664. Creation of permanent guardianship
Status: in_force

(a) The Family Division of the Superior Court may establish a permanent guardianship at a permanency planning hearing or at any other hearing in which a permanent legal disposition of the child can be made, including a child protection proceeding pursuant to 33 V.S.A. § 5318 or a delinquency proceeding pursuant to 33 V.S.A. § 5232. The court shall also issue an order permitting or denying visitation, contact, or information with the parent at the same time the order of permanent guardianship is issued. Before issuing an order for permanent guardianship, the court shall find by clear and convincing evidence all of the following:

(1) Neither parent is able to assume or resume parental duties within a reasonable time.

(2) The child has resided with the permanent guardian for at least six months.

(3) A permanent guardianship is in the best interests of the child.

(4) The proposed permanent guardian:

(A)(i) is emotionally, mentally, and physically suitable to become the permanent guardian; and

(ii) is financially suitable, with kinship guardianship assistance provided for in 33 V.S.A. § 4903 if applicable, to become the permanent guardian;

(B) has expressly committed to remain the permanent guardian for the duration of the child's minority; and

(C) has expressly demonstrated a clear understanding of the financial implications of becoming a permanent guardian, including an understanding of any resulting loss of State or federal benefits or other assistance.

(b) The parent voluntarily may consent to the permanent guardianship, and shall demonstrate an understanding of the implications and obligations of the consent.

(c) After the Family Division of the Superior Court issues a final order establishing permanent guardianship, the case shall be transferred to the appropriate Probate Division of the Superior Court in the district in which the permanent guardian resides. Jurisdiction shall continue to lie in the Probate Division. Appeal of any decision by the Probate Division of the Superior Court shall be de novo to the Family Division.

(d) The Family Division of the Superior Court may name a successor permanent guardian in the initial permanent guardianship order. Prior to issuing an order naming a successor permanent guardian, the court shall find by clear and convincing evidence that the named successor permanent guardian meets the criteria in subdivision (a)(4) of this section. In the event that the permanent guardian dies or the guardianship is terminated by the Probate Division of the Superior Court, if a successor guardian is named in the initial order, custody of the child transfers to the successor guardian pursuant to subsection 2666(b) of this title.
14 V.S.A. § 3161 — VT Code / Title 14 / Chapter 114 / Section 3161
§ 3161. Definitions; significant connection factors
Status: in_force

(a) In this subchapter:

(1) “Emergency” means a circumstance that likely will result in serious and irreparable harm to a respondent's physical health, safety, or welfare, and for which the appointment of a guardian is necessary because no other person has authority and is willing to act on the respondent's behalf.

(2) “Home state” means the state in which the respondent was physically present, including any period of temporary absence, for at least six consecutive months immediately before the filing of a petition for a protective order or the appointment of a guardian; or if none, the state in which the respondent was physically present, including any period of temporary absence, for at least six consecutive months ending within the six months prior to the filing of the petition.

(3) “Significant-connection state” means a state, other than the home state, with which a respondent has a significant connection other than mere physical presence and in which substantial evidence concerning the respondent is available.

(b) In determining under section 3163 and subsection 3171(e) of this title whether a respondent has a significant connection with a particular state, the Probate Division shall consider:

(1) the location of the respondent's family and other persons required to be notified of the guardianship or protective proceeding;

(2) the length of time the respondent at any time was physically present in the state and the duration of any absence;

(3) the location of the respondent's property; and

(4) the extent to which the respondent has ties to the state such as voting registration, state or local tax return filing, vehicle registration, driver's license, social relationship, or receipt of services.
14 V.S.A. § 915 — VT Code / Title 14 / Chapter 61 / Section 915
§ 915. Appointment of administrator to act with survivor
Status: in_force

When an executor or administrator dies, resigns, is removed or authority is otherwise extinguished, leaving a remaining executor or administrator, administration may be granted to some suitable person, to serve with the remaining executor or administrator, upon motion of any person interested in the estate of the deceased.
14 V.S.A. § 918 — VT Code / Title 14 / Chapter 61 / Section 918
§ 918. One of the coexecutors disqualified, others may act
Status: in_force

When coexecutors appointed in a will cannot act as such, those who can act may be appointed to administer the estate.
14 V.S.A. § 203 — VT Code / Title 14 / Chapter 5 / Section 203
§ 203. Probate proceedings; service; jurisdiction over persons
Status: in_force

In proceedings within the exclusive jurisdiction of the Probate Division of the Superior Court where notice is required, interested persons may be bound by the orders of the court in respect to property in or subject to the laws of this State by notice in conformity with law or the Rules of Probate Procedure. An order is binding as to all who are given notice of the proceeding though less than all interested persons are notified.
14A V.S.A. § 703 — VT Code / Title 14A / Chapter 7 / Section 703
§ 703. Cotrustees
Status: in_force

(a) Cotrustees who are unable to reach a unanimous decision may act by majority decision.

(b) If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.

(c) A cotrustee must participate in the performance of a trustee's function unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification under other law, or other temporary incapacity, or the cotrustee has properly delegated the performance of the function to another trustee.

(d) If a cotrustee is unavailable to perform duties because of absence, illness, disqualification under other law, or other temporary incapacity, and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust.

(e) A trustee may not delegate to a cotrustee the performance of a function the settlor reasonably expected the trustees to perform jointly. Unless a delegation was irrevocable, a trustee may revoke a delegation previously made.

(f) Except as otherwise provided in subsection (g) of this section, a trustee who does not join in an action of another trustee is not liable for the action.

(g) Each trustee shall exercise reasonable care to:

(1) prevent a cotrustee from committing a serious breach of trust; and

(2) compel a cotrustee to redress a serious breach of trust.

(h) A dissenting trustee who joins in an action at the direction of the majority of the trustees and who notified in writing any cotrustee of the dissent at or before the time of the action is not liable for the action unless the action is a serious breach of trust.
14A V.S.A. § 112 — VT Code / Title 14A / Chapter 1 / Section 112
§ 112. Rules of construction
Status: in_force

The rules of construction that apply in this State to the interpretation of and disposition of property by will also apply as appropriate to the interpretation of the terms of a trust and the disposition of the trust property.
14 V.S.A. § 2621 — VT Code / Title 14 / Chapter 111 / Section 2621
§ 2621. Policy; purposes
Status: in_force

This article shall be construed in accordance with the following purposes and policies:

(1) It is presumed that the interests of minor children are best promoted in the child's own home. However, when parents are temporarily unable to care for their children, guardianship provides a process through which parents can arrange for family members or other parties to care for the children.

(2) Family members can make better decisions about minor children when they understand the consequences of those decisions and are informed about the law and the available supports.

(3) Decisions about raising a child made by a person other than the child's parent should be based on the informed consent of the parties unless there has been a finding of parental unsuitability.

(4) When the informed consent of the parents cannot be obtained, parents have a fundamental liberty interest in raising their children unless a proposed guardian can show parental unsuitability by clear and convincing evidence.

(5) Research demonstrates that timely reunification between parents and their children is more likely when children have safe and substantial contact with their parents.

(6) It is in the interests of all parties, including the children, that parents and proposed guardians have a shared understanding about the length of time that they expect the guardianship to last, the circumstances under which the parents will resume care for their children, and the nature of the supports and services that are available to assist them.
14 V.S.A. § 917 — VT Code / Title 14 / Chapter 61 / Section 917
§ 917. Power of regulation
Status: in_force

The Probate Division of the Superior Court shall regulate the conduct of persons appearing in proceedings or involved in the administration of estates or other matters within the court's jurisdiction. When it appears to the court that a person has failed to comply with procedures required by law or the Rules of Probate Procedure, or that an estate is not being promptly and properly administered, or that a fiduciary is incapable or unsuitable to discharge the trust, the court may give notice of the complaint or omission together with a notice to correct the deficiency or complaint within a specified period of time or cause the party to appear and answer the matter. Notice shall be given as provided by the Rules of Probate Procedure. The court may restrain a person from performing specified acts or the exercise of any powers or discharge of any duties of office, or make any other order to secure proper performance of duty. It may exercise the powers of contempt; tax costs, including surcharge; order a party to pay to other parties the amount of reasonable expenses, including reasonable attorney's fees, or losses incurred because of an act or omission; and remove or suspend a fiduciary.
14A V.S.A. § 403 — VT Code / Title 14A / Chapter 4 / Section 403
§ 403. Trusts created in other jurisdictions
Status: in_force

A trust not created by will is validly created if its creation complies with the law of the jurisdiction in which the trust instrument was executed, or the law of the jurisdiction in which, at the time of creation:

(1) the settlor was domiciled, had a place of abode, or was a citizen;

(2) a trustee was domiciled or had a place of business; or

(3) any trust property was located.
14 V.S.A. § 3567 — VT Code / Title 14 / Chapter 125 / Section 3567
§ 3567. Uniformity of application and construction
Status: in_force

In applying and construing this chapter, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
14A V.S.A. § 402 — VT Code / Title 14A / Chapter 4 / Section 402
§ 402. Requirements for creation
Status: in_force

(a) A trust is created only if:

(1) the settlor has capacity to create a trust;

(2) the settlor indicates an intention to create the trust;

(3) the trust has a definite beneficiary or is:

(A) a charitable trust;

(B) a trust for the care of an animal, as provided in section 408 of this title; or

(C) a trust for a noncharitable purpose, as provided in section 409 of this title;

(4) the trustee has duties to perform; and

(5) the same person is not the sole trustee and sole beneficiary of all beneficial interests.

(b) A settlor is deemed to have the capacity to create a trust if:

(1) the trust is created by an agent of the settlor under a power of attorney as described in subdivision 401(5) of this title; and

(2) the settlor had capacity to create a trust at the time the power of attorney was executed.

(c) A beneficiary is definite if the beneficiary can be ascertained now or in the future, subject to any applicable rule against perpetuities.

(d) A power in a trustee to select a beneficiary from an indefinite class is valid. If the power is not exercised within a reasonable time, the power fails and the property subject to the power passes to the persons who would have taken the property had the power not been conferred.
14 V.S.A. § 4015 — VT Code / Title 14 / Chapter 127 / Section 4015
§ 4015. Exoneration of agent
Status: in_force

A provision in a power of attorney relieving an agent of liability for breach of duty is binding on the principal and the principal's successors in interest except to the extent the provision:

(1) relieves the agent of liability for breach of duty committed:

(A) dishonestly;

(B) in bad faith;

(C) with reckless indifference to the purposes of the power of attorney;

(D) through willful misconduct;

(E) through gross negligence; or

(F) with actual fraud; or

(2) was inserted as a result of an abuse of a confidential or fiduciary relationship with the principal.
14 V.S.A. § 909 — VT Code / Title 14 / Chapter 61 / Section 909
§ 909. Executor refusing trust or not giving bond
Status: in_force

A person named as an executor in a will who refuses to accept appointment or neglects for 20 days to give a bond shall not intermeddle or act as executor. If the person refuses to accept or neglects to give a bond, the Probate Division of the Superior Court may grant letters of administration to any other named executor who is capable and willing to accept the appointment and gives bond. If the other named executors fail to accept the appointment or give a bond, the court shall grant letters of administration with the will annexed to one or more suitable persons who would have qualified to be appointed as administrator had the testator died intestate.
14 V.S.A. § 1209 — VT Code / Title 14 / Chapter 66 / Section 1209
§ 1209. Secured claims
Status: in_force

Payment of a secured claim is upon the basis of the amount allowed if the creditor surrenders his or her security; otherwise payment is upon the basis of one of the following:

(1) if the creditor exhausts his or her security before receiving payment, unless precluded by other law upon the amount of the claim allowed less the fair value of the security; or

(2) if the creditor does not have the right to exhaust his or her security or has not done so, upon the amount of the claim allowed less the value of the security determined by converting it into money according to the terms of the agreement pursuant to which the security was delivered to the creditor, or by the creditor and executor or administrator by agreement, arbitration, compromise, or litigation.
14 V.S.A. § 913 — VT Code / Title 14 / Chapter 61 / Section 913
§ 913. Death or removal of executor or administrator
Status: in_force

When an executor or administrator dies, resigns, is removed or the executor's or administrator's authority is otherwise extinguished, any remaining executor or administrator may complete the administration unless otherwise provided by the will. If there is no other executor or administrator then serving, the court may grant letters of administration to another suitable person. The executor or administrator of an executor or administrator shall not administer the estate of the first decedent.
14 V.S.A. § 3355 — VT Code / Title 14 / Chapter 118 / Section 3355
§ 3355. Rental property
Status: in_force

To the extent that a trustee accounts for receipts from rental property pursuant to this section, the trustee shall allocate to income an amount received as rent of real or personal property, including an amount received for cancellation or renewal of a lease. An amount received as a refundable deposit, including a security deposit or a deposit applied as rent for future periods, must be added to principal and held subject to the terms of the lease and is not available for distribution to a beneficiary until the trustee's contractual obligations have been satisfied with respect to that amount.
14A V.S.A. § 1410 — VT Code / Title 14A / Chapter 14 / Section 1410
§ 1410. Formalities
Status: in_force

An exercise of the decanting power shall be made in a record signed by an authorized fiduciary. The signed record shall, directly or by reference to the notice required by section 1407 of this title, identify the first trust and the second trust or trusts and state the property of the first trust being distributed to each second trust and the property, if any, that remains in the first trust.
14 V.S.A. § 919 — VT Code / Title 14 / Chapter 61 / Section 919
§ 919. Persons unheard from for five years; settlement of estate
Status: in_force

When a person is absent and unheard from for five years or when a certificate of presumed death of a person has been issued under 18 V.S.A. § 5219, that person's estate shall be subject to administration by the Probate Division of the Superior Court. If a will exists, the will shall be presented to the court and may be allowed and the estate closed thereunder. If no will is found, the court having jurisdiction of the estate may grant letters of administration thereof and proceed with the estate as in the settlement of intestate estates. Distribution of the estate shall not be made until five years after the granting of administration or letters testamentary. Before granting an order for distribution or for payment of legacies named in any will that may have been allowed, the court shall require from the legatees or distributees a bond or bonds with sufficient surety to the court, which may take into account the likelihood of the reappearance of the person presumed deceased, conditioned to return the amount distributed or paid with lawful interest thereon to the person so absent and unheard from upon reappearance and demand for the same. If the distributee or legatee is unable to give the security required by this section, the same shall be placed at interest upon security approved by the court or by the executor or administrator, as the case may be, and the interest shall be paid annually to the distributee or legatee and the estate shall remain at interest until the Probate Division of the Superior Court by which the letters of administration or letters testamentary were granted shall order it paid to the legatees or distributees. Upon motion, an order shall not be made permitting payment or distribution without the security required by this section until at least seven years have elapsed since the granting of letters testamentary or of administration on the estate of the supposed decedent.
14 V.S.A. § 1401 — VT Code / Title 14 / Chapter 71 / Section 1401
§ 1401. Executor or administrator may sue and defend
Status: in_force

An executor or administrator may commence, prosecute, or defend, in the right of the deceased, actions that survive to the executor or administrator and are necessary for the recovery and protection of the property or rights of the deceased and may prosecute or defend the actions commenced in the lifetime of the deceased.
14 V.S.A. § 1451 — VT Code / Title 14 / Chapter 71 / Section 1451
§ 1451. What actions survive
Status: in_force

Actions of ejectment or other proper actions to recover the seisin or possession of lands, tenements, or hereditaments, actions of replevin, actions on tort on account of the wrongful conversion of personal estate, and actions on tort on account of a trespass or for damages done to real or personal estate shall survive, in addition to the actions that survive by common law, and may be commenced and prosecuted by the executor or administrator.
14A V.S.A. § 409 — VT Code / Title 14A / Chapter 4 / Section 409
§ 409. Noncharitable trust without ascertainable beneficiary
Status: in_force

Except as otherwise provided in section 408 of this title or by another statute, the following rules apply:

(1) A trust may be created for a noncharitable purpose without a definite or definitely ascertainable beneficiary or for a noncharitable but otherwise valid purpose to be selected by the trustee. The trust may not be enforced for more than 21 years.

(2) A trust authorized by this section may be enforced by a person appointed in the terms of the trust or, if no person is so appointed, by a person appointed by the Probate Division of the Superior Court.

(3) Property of a trust authorized by this section may be applied only to its intended use, except to the extent the Probate Division of the Superior Court determines that the value of the trust property exceeds the amount required for the intended use. Except as otherwise provided in the terms of the trust, property not required for the intended use must be distributed to the settlor, if then living, otherwise to the settlor's successors in interest.
14 V.S.A. § 2633 — VT Code / Title 14 / Chapter 111 / Section 2633
§ 2633. Appeals
Status: in_force

Notwithstanding 12 V.S.A. § 2551 or 2553, the Vermont Supreme Court shall have appellate jurisdiction over orders of the Probate Division issued under this article.
14 V.S.A. § 1959 — VT Code / Title 14 / Chapter 83 / Section 1959
§ 1959. Short title
Status: in_force

This chapter may be cited as the Uniform Disclaimer of Property Interests Act.
14 V.S.A. § 3223 — VT Code / Title 14 / Chapter 115 / Section 3223
§ 3223. Powers of custodian
Status: in_force

(a) A custodian, acting in a custodial capacity, has all the rights, powers, and authority over custodial property that unmarried adult owners have over their own property, but a custodian may exercise those rights, powers, and authority in that capacity only.

(b) This section does not relieve a custodian from liability for breach of section 3222 of this title.
14 V.S.A. § 3226 — VT Code / Title 14 / Chapter 115 / Section 3226
§ 3226. Exemption of third person from liability
Status: in_force

A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining:

(1) the validity of the purported custodian's designation;

(2) the propriety of or the authority under this chapter for any act of the purported custodian;

(3) the validity or propriety under this chapter of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or

(4) the propriety of the application of any property of the minor delivered to the purported custodian.
14 V.S.A. § 2883 — VT Code / Title 14 / Chapter 111 / Section 2883
§ 2883. Term of license
Status: in_force

Such license shall not continue in force more than two years.
14 V.S.A. § 3411 — VT Code / Title 14 / Chapter 120 / Section 3411
§ 3411. Short title
Status: in_force

This chapter may be cited as the Uniform Prudent Management of Institutional Funds Act.
14 V.S.A. § 1492 — VT Code / Title 14 / Chapter 71 / Section 1492
§ 1492. Action for death from wrongful act; procedure; damages
Status: in_force

(a) The action shall be brought in the name of the personal representative of the deceased person and commenced within two years from the discovery of the death of the person, but if the person against whom the action accrues is out of the State, the action may be commenced within two years after the person comes into the State. After the cause of action accrues and before the two years have run, if the person against whom it accrues is absent from and resides out of the State and has no known property within the State that can by common process of law be attached, the time of his or her absence shall not be taken as part of the time limited for the commencement of the action. If the death of the decedent occurred under circumstances such that probable cause is found to charge a person with homicide, the action shall be commenced within seven years after the discovery of the death of the decedent or not more than two years after the judgment in that criminal action has become final, whichever occurs later.

(b) The court or jury before whom the issue is tried may give such damages as are just, with reference to the pecuniary injuries resulting from the death, to the spouse and next of kin, as the case may be. In the case where the decedent is a minor child, the term pecuniary injuries shall also include the loss of love and companionship of the child and for destruction of the parent-child relationship in an amount as under all the circumstances of the case, may be just.

(c) The amount recovered shall be for the benefit of the spouse and next of kin, as the case may be and shall be distributed by the personal representative as hereinafter provided. The distribution, whether of the proceeds of a settlement or of an action, shall be in proportion to the pecuniary injuries suffered, the proportions to be determined upon notice to all interested persons in such manner as the Superior Court, or in the event the court is not in session a Superior judge, shall deem proper and after a hearing at such time as the court or judge may direct, upon application made by the personal representative or by the spouse or any next of kin. The distribution of the proceeds of a settlement or action shall be subject to the following provisions:

(1) In case the decedent shall have left a spouse surviving, but no children, the damages recovered shall be for the sole benefit of the spouse.

(2) In case the decedent leaves neither spouse nor children, but leaves a mother and leaves a father who has abandoned the decedent or has left the maintenance and support of the decedent to the mother, the damages or recovery shall be for the sole benefit of the mother.

(3) In case the decedent leaves neither spouse nor children, but leaves a father and leaves a mother who has abandoned the decedent or has left the maintenance and support of the decedent to the father, the damages or recovery shall be for the sole benefit of the father.

(4) No share of the damages or recovery shall be allowed in the estate of a child to a parent who has neglected or refused to provide for the child during infancy or who has abandoned the child whether or not the child dies during infancy, unless the parental duties have been subsequently and continuously resumed until the death of the child.

(5) No share of the damages or recovery shall be allowed in the estate of a deceased spouse to his or her surviving spouse who has abandoned the decedent or who has persistently neglected to support the decedent prior to the decedent's death.

(6) The Superior Court shall have jurisdiction to determine the questions of abandonment and failure to support under subdivisions (2), (3), (4), and (5) of this subsection and the Probate Division of the Superior Court having jurisdiction of the decedent's estate shall decree the net amount recovered pursuant to the final judgment order of the Superior Court.

(d) A party may appeal from the findings and decision rendered pursuant to subsection (c) of this section as in causes tried by a court.

(e) Notwithstanding subsection (a) of this section, if the death of the decedent was caused by an intentional act constituting murder, the action may be commenced within seven years after the discovery of the death of the decedent.

(f) The fee for the appointment of a personal representative to bring an action pursuant to subsection (a) of this section shall be the entry fee established by 32 V.S.A. § 1434(a)(1).
14A V.S.A. § 811 — VT Code / Title 14A / Chapter 8 / Section 811
§ 811. Enforcement and defense of claims
Status: in_force

A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust.
14A V.S.A. § 803 — VT Code / Title 14A / Chapter 8 / Section 803
§ 803. Impartiality
Status: in_force

If a trust has two or more beneficiaries, the trustee shall act impartially in administering the trust, giving due regard to the beneficiaries' respective interests.
14 V.S.A. § 3417 — VT Code / Title 14 / Chapter 120 / Section 3417
§ 3417. Reviewing compliance
Status: in_force

Compliance with this chapter is determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight.
14 V.S.A. § 624 — VT Code / Title 14 / Chapter 47 / Section 624
§ 624. Insurance policy
Status: in_force

Where the insured and the beneficiary in a policy of life or accident insurance have died and there is not sufficient evidence that they have died otherwise than simultaneously, the proceeds of the policy shall be distributed as if the insured had survived the beneficiary.
14A V.S.A. § 705 — VT Code / Title 14A / Chapter 7 / Section 705
§ 705. Resignation of trustee
Status: in_force

(a) A trustee may resign:

(1) upon at least 30 days' notice in writing to all cotrustees and to the qualified beneficiaries except those qualified beneficiaries under a revocable trust which the settlor has the capacity to revoke; or

(2) with the approval of the Probate Division of the Superior Court.

(b) In approving a resignation, the Probate Division of the Superior Court may issue orders and impose conditions reasonably necessary for the protection of the trust property.

(c) Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.
14A V.S.A. § 1303 — VT Code / Title 14A / Chapter 13 / Section 1303
§ 1303. Application; principal place of administration
Status: in_force

(a) Notwithstanding section 1204 of this title, this chapter applies to a trust, whenever created, that has its principal place of administration in this State, subject to the following rules:

(1) If the trust was created before the effective date of this chapter, this chapter applies only to a decision or action occurring on or after the effective date of this chapter.

(2) If the principal place of administration of the trust is changed to this State on or after the effective date of this chapter, this chapter applies only to a decision or action occurring on or after the date of the change.

(b) Without precluding other means to establish a sufficient connection with the designated jurisdiction in a directed trust, terms of the trust that designate the principal place of administration of the trust are valid and controlling if:

(1) a trustee's principal place of business is located in or a trustee is a resident of the designated jurisdiction;

(2) a trust director's principal place of business is located in or a trust director is a resident of the designated jurisdiction; or

(3) all or part of the administration occurs in the designated jurisdiction.
14 V.S.A. § 3163 — VT Code / Title 14 / Chapter 114 / Section 3163
§ 3163. Jurisdiction
Status: in_force

A Probate Division of the Superior Court of this State has jurisdiction to appoint a guardian or issue a protective order for a respondent if:

(1) this State is the respondent's home state;

(2) on the date the petition is filed, this State is a significant-connection state and:

(A) the respondent does not have a home state or a court of the respondent's home state has declined to exercise jurisdiction because this State is a more appropriate forum; or

(B) the respondent has a home state, a petition for an appointment or order is not pending in a court of that state or another significant-connection state, and, before the Probate Division makes the appointment or issues the order:

(i) a petition for an appointment or order is not filed in the respondent's home state;

(ii) an objection to the Probate Division's jurisdiction is not filed by a person required to be notified of the proceeding; and

(iii) the Probate Division of the Superior Court in this State concludes that it is an appropriate forum under the factors set forth in section 3166 of this title;

(3) this State does not have jurisdiction under either subdivision (1) or (2) of this section, the respondent's home state, and all significant-connection states have declined to exercise jurisdiction because this State is the more appropriate forum, and jurisdiction in this State is consistent with the constitutions of this State and the United States; or

(4) the requirements for special jurisdiction under section 3164 of this title are met.
14 V.S.A. § 138 — VT Code / Title 14 / Chapter 4 / Section 138
§ 138. Source and construction
Status: in_force

Sections 131-137 of this chapter are derived from the Annex to the Convention on Providing a Uniform Law on the Form of an International Will, October 26, 1973. When interpreting and applying this chapter, courts shall be guided by its international origin and by the need for uniformity in its interpretation.
14 V.S.A. § 4031 — VT Code / Title 14 / Chapter 127 / Section 4031
§ 4031. Authority that requires specific grant; grant of general authority
Status: in_force

(a) An agent under a power of attorney may do the following on behalf of the principal or with the principal's property only if the power of attorney expressly grants the agent the authority and exercise of the authority is not otherwise prohibited by another agreement or instrument to which the authority or property is subject:

(1) create, amend, revoke, or terminate an inter vivos trust;

(2) make a gift;

(3) create or change rights of survivorship;

(4) create or change a beneficiary designation;

(5) delegate authority granted under the power of attorney;

(6) waive the principal's right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan;

(7) authorize another person to exercise the authority granted under the power of attorney;

(8) exercise authority over the content of an electronic communication of the principal in accordance with chapter 125 of this title (Vermont Revised Uniform Fiduciary Access to Digital Assets Act);

(9) disclaim property, including a power of appointment;

(10) exercise a written waiver of spousal rights under section 323 of this title;

(11) exercise authority with respect to intellectual property, including copyrights, contracts for payment of royalties, and trademarks; or

(12) convey, or revoke or revise a grantee designation, by enhanced life estate deed pursuant to chapter 6 of Title 27 or under common law.

(b) Notwithstanding a grant of authority to do an act described in subsection (a) of this section, unless the power of attorney otherwise provides, an agent that is not an ancestor, spouse, or descendant of the principal may not exercise authority under a power of attorney to create in the agent, or in an individual to whom the agent owes a legal obligation of support, an interest in the principal's property, whether by gift, right of survivorship, beneficiary designation, disclaimer, or otherwise.

(c) Subject to subsections (a), (b), (d), and (e) of this section, if a power of attorney grants to an agent authority to do all acts that a principal could do, the agent has the general authority described in sections 4034–4046 of this title.

(d) Unless the power of attorney otherwise provides, a grant of authority to make a gift is subject to section 4047 of this title.

(e) Subject to subsections (a), (b), and (d) of this section, if the subjects over which authority is granted in a power of attorney are similar or overlap, the broadest authority controls.

(f) Authority granted in a power of attorney is exercisable with respect to property that the principal has when the power of attorney is executed or acquires later, whether or not the property is located in this State and whether or not the authority is exercised or the power of attorney is executed in this State.

(g) An act performed by an agent pursuant to a power of attorney has the same effect and inures to the benefit of and binds the principal and the principal's successors in interest as if the principal had performed the act.
14 V.S.A. § 914 — VT Code / Title 14 / Chapter 61 / Section 914
§ 914. Power of new administrator
Status: in_force

An administrator appointed in the place of a former executor or administrator shall have the same authority in settling the estate as the former executor or administrator, including the authority to prosecute or defend actions commenced by or against the former executor or administrator, and the new administrator may revive actions and have execution on judgments recovered in the name of the former executor or administrator on behalf of the estate.
14 V.S.A. § 925 — VT Code / Title 14 / Chapter 61 / Section 925
§ 925. Powers of executor of discovered will
Status: in_force

In such case, the executor of the will may demand, sue for, and collect the goods, chattels, rights, and credits of the deceased remaining unadministered, and may prosecute to final judgment actions commenced by the administrator before the revocation of his or her letters of administration.
14 V.S.A. § 3416 — VT Code / Title 14 / Chapter 120 / Section 3416
§ 3416. Release or modification of restrictions on management, investment, or purpose
Status: in_force

(a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpose other than a charitable purpose of the institution.

(b) The court, upon application of an institution, may modify a restriction contained in a gift instrument regarding the management or investment of an institutional fund if the restriction has become impracticable or wasteful, if it impairs the management or investment of the fund, or if, because of circumstances not anticipated by the donor, a modification of a restriction will further the purposes of the fund. The institution shall notify the Attorney General of the application, and the Attorney General must be given an opportunity to be heard. To the extent practicable, any modification must be made in accordance with the donor's probable intention.

(c) If a particular charitable purpose or a restriction contained in a gift instrument on the use of an institutional fund becomes unlawful, impracticable, impossible to achieve, or wasteful, the court, upon application of an institution, may modify the purpose of the fund or the restriction on the use of the fund in a manner consistent with the charitable purposes expressed in the gift instrument. The institution shall notify the Attorney General of the application, and the Attorney General must be given an opportunity to be heard.

(d) If an institution determines that a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund is unlawful, impracticable, impossible to achieve, or wasteful, the institution, 60 days after notification to the Attorney General, may release or modify the restriction, in whole or in part, if:

(1) the institutional fund subject to the restriction has a total value of less than $50,000.00;

(2) more than 20 years have elapsed since the fund was established; and

(3) the institution uses the property in a manner consistent with the charitable purposes expressed in the gift instrument.
14 V.S.A. § 312 — VT Code / Title 14 / Chapter 42 / Section 312
§ 312. Surviving spouse to receive household goods
Status: in_force

Upon motion, the surviving spouse of a decedent may receive out of the decedent's estate all furnishings and furniture in the decedent's household. If any objection is made, the Probate Division of the Superior Court shall decide what, if any, of such personalty shall pass under this section. Goods and effects so assigned shall be in addition to the distributive share of the estate to which the surviving spouse is entitled under other provisions of law. In making a determination pursuant to this section, the Probate Division of the Superior Court may consider the length of the decedent's marriage or civil union, the sentimental and monetary value of the property, and the source of the decedent's interest in the property.
14 V.S.A. § 4033 — VT Code / Title 14 / Chapter 127 / Section 4033
§ 4033. Construction of authority generally
Status: in_force

Except as otherwise provided in the power of attorney, by executing a power of attorney that incorporates by reference a subject described in sections 4034–4047 of this title or that grants to an agent authority to do all acts that a principal could do pursuant to subsection 4031(c) of this title, a principal authorizes the agent, with respect to that subject, to:

(1) demand, receive, and obtain, by litigation or otherwise, money or another thing of value to which the principal is, may become, or claims to be entitled, and conserve, invest, disburse, or use anything so received or obtained for the purposes intended;

(2) contract in any manner with any person, on terms agreeable to the agent, to accomplish a purpose of a transaction and perform, rescind, cancel, terminate, reform, restate, release, or modify the contract or another contract made by or on behalf of the principal;

(3) execute, acknowledge, seal, deliver, file, or record any instrument or communication the agent considers desirable to accomplish a purpose of a transaction, including creating at any time a schedule listing some or all of the principal's property and attaching it to the power of attorney;

(4) initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to a claim existing in favor of or against the principal or intervene in litigation relating to the claim;

(5) seek on the principal's behalf the assistance of a court or other governmental agency to carry out an act authorized in the power of attorney;

(6) engage, compensate, and discharge an attorney, accountant, discretionary investment manager, expert witness, or other advisor;

(7) prepare, execute, and file a record, report, or other document to safeguard or promote the principal's interest under a statute or regulation;

(8) communicate with any representative or employee of a government or governmental subdivision, agency, or instrumentality on behalf of the principal;

(9) access communications intended for and communicate on behalf of the principal, whether by mail, electronic transmission, telephone, or other means; and

(10) do any lawful act with respect to the subject and all property related to the subject.
14 V.S.A. § 3220 — VT Code / Title 14 / Chapter 115 / Section 3220
§ 3220. Single custodianship
Status: in_force

A transfer may be made only for one minor, and only one person may be the custodian. All custodial property held under this chapter by the same custodian for the benefit of the same minor constitutes a single custodianship.
14A V.S.A. § 1416 — VT Code / Title 14A / Chapter 14 / Section 1416
§ 1416. Change in compensation
Status: in_force

(a) If a first-trust instrument specifies an authorized fiduciary's compensation, the fiduciary shall not exercise the decanting power to increase the fiduciary's compensation above the specified compensation unless:

(1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or

(2) the increase is approved by the court.

(b) If a first-trust instrument does not specify an authorized fiduciary's compensation, the fiduciary shall not exercise the decanting power to increase the fiduciary's compensation above the compensation permitted by the Vermont Trust Code unless:

(1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or

(2) the increase is approved by the court.

(c) A change in an authorized fiduciary's compensation that is incidental to other changes made by the exercise of the decanting power is not an increase in the fiduciary's compensation for purposes of subsections (a) and (b) of this section.
14 V.S.A. § 302 — VT Code / Title 14 / Chapter 42 / Section 302
§ 302. Dower and curtesy abolished
Status: in_force

The estates of dower and curtesy are abolished.
14 V.S.A. § 101 — VT Code / Title 14 / Chapter 3 / Section 101
§ 101. Will not effective until allowed
Status: in_force

To be effective, a will must be allowed in the Probate Division of the Superior Court, or by appeal in the Civil Division of the Superior Court or the Supreme Court.
14A V.S.A. § 405 — VT Code / Title 14A / Chapter 4 / Section 405
§ 405. Charitable purposes; enforcement
Status: in_force

(a) A charitable trust may be created for the relief of poverty; the advancement of education or religion; the promotion of health, scientific, literary, benevolent, governmental, or municipal purposes; or other purposes the achievement of which is beneficial to the community.

(b) If the terms of a charitable trust do not indicate a particular charitable purpose or beneficiary or if the designated charitable purpose cannot be completed or no longer exists, the trustee, if authorized by the terms of the trust, or if not, the Probate Division of the Superior Court may select one or more charitable purposes or beneficiaries. The selection must be consistent with the settlor's intention to the extent it can be ascertained.

(c) The settlor of a charitable trust, the Attorney General, a cotrustee, or a person with a special interest in the charitable trust may maintain a proceeding to enforce the trust.
14A V.S.A. § 104 — VT Code / Title 14A / Chapter 1 / Section 104
§ 104. Knowledge
Status: in_force

(a) Subject to subsection (b) of this section, a person has knowledge of a fact if the person:

(1) has actual knowledge of it;

(2) has received a notice or notification of it; or

(3) from all the facts and circumstances known to the person at the time in question, has reason to know it.

(b) An organization that conducts activities through employees has notice or knowledge of a fact involving a trust only from the time the information was received by an employee having responsibility to act for the trust, or would have been brought to the employee's attention if the organization had exercised reasonable diligence. An organization exercises reasonable diligence if it maintains reasonable routines for communicating significant information to the employee having responsibility to act for the trust and there is reasonable compliance with the routines. Reasonable diligence does not require an employee of the organization to communicate information unless the communication is part of the individual's regular duties or the individual knows a matter involving the trust would be materially affected by the information.
14 V.S.A. § 1727 — VT Code / Title 14 / Chapter 77 / Section 1727
§ 1727. Valuation of advancement
Status: in_force

Where the value of an advancement is expressed in the conveyance or in the charge made by the decedent, or by the intestate decedent at the time of declaration before two witnesses, the advancement shall be taken to be of the value so expressed or declared; otherwise it shall be estimated according to the value at the time it was made.
14 V.S.A. § 916 — VT Code / Title 14 / Chapter 61 / Section 916
§ 916. Powers of administrator appointed to act with survivor
Status: in_force

An executor or administrator appointed under section 915 of this title shall have the same authority as the remaining executor or administrator and may prosecute or defend actions commenced by or against the former executor or administrator and may revive actions and have execution on judgments recovered in the name of the former executor or administrator on behalf of the estate.
14 V.S.A. § 3554 — VT Code / Title 14 / Chapter 125 / Section 3554
§ 3554. User direction for disclosure of digital assets
Status: in_force

(a) A user may use an online tool to direct the custodian to disclose to a designated recipient or not to disclose some or all of the user's digital assets, including the content of electronic communications. If the online tool allows the user to modify or delete a direction at all times, a direction regarding disclosure using an online tool overrides a contrary direction by the user in a will, trust, power of attorney, or other record.

(b) If a user has not used an online tool to give direction under subsection (a) of this section or if the custodian has not provided an online tool, the user may allow or prohibit in a will, trust, power of attorney, or other record, disclosure to a fiduciary of some or all of the user's digital assets, including the content of electronic communications sent or received by the user.

(c) A user's direction under subsection (a) or (b) of this section overrides a contrary provision in a terms-of-service agreement that does not require the user to act affirmatively and distinctly from the user's assent to the terms of service.
14 V.S.A. § 1651 — VT Code / Title 14 / Chapter 75 / Section 1651
§ 1651. License to sell estate; procedure
Status: in_force

When an executor or administrator considers it necessary or beneficial to sell real or personal estate, the Probate Division of the Superior Court may grant license, when it appears necessary or beneficial, under the following regulations:

(1) The executor or administrator shall file a motion setting forth the facts that show the sale is necessary or beneficial.

(2) In cases where the consent of interested persons is required, the executor or administrator shall file their written consents with the court.

(3) In the event that the consent of interested persons is required but cannot be obtained, the court shall schedule a hearing and notice shall be given as provided in the Rules of Probate Procedure.

(4) Before license is granted, the court may require the executor or administrator to give a new bond in an amount and with sureties as the court directs, conditioned that the executor or administrator shall account for the proceeds of the sale.

(5) The executor or administrator shall be sworn before the court or before some other person authorized to administer oaths and a certificate thereof shall be returned to the court before sale under the order granting license.

(6) If the evidence satisfies the court, the court may authorize the executor or administrator to sell that part of the estate deemed necessary or beneficial, either at public or private sale, and furnish the executor or administrator a copy of the license to sell or order of sale.

(7) If the order is to sell the estate at auction, the court shall designate the manner of notice of the time and place of sale, which shall be stated in the copy of the license to sell or order of sale furnished to the executor or administrator.

(8) The copy of the license to sell or order of sale furnished to the executor or administrator shall include findings addressing the requirements of subdivisions (1) through (4) of this section. A certified copy of the license to sell real estate or order of sale shall be recorded in the office where a deed of the real property to be sold is recorded.

(9) If ordered by the court, the executor or administrator shall file a report with the Probate Division of the Superior Court on the action authorized by each license granted under this section within 60 days from the date of the sale of any real or personal property.

(10) If the power to sell all or part of the testator's real or personal estate is expressly conferred by the will, the court shall issue a license to sell to the executor or administrator without requiring notice or hearing with respect to any property subject to the testamentary power, except a dwelling house in which the surviving spouse or an heir, devisee, or legatee is residing.

(11) Notwithstanding any provision of this section, no beneficial license to sell that is inconsistent with the provisions or intent of a will shall be issued.
14A V.S.A. § 808 — VT Code / Title 14A / Chapter 8 / Section 808
§ 808. Powers to direct
Status: in_force

(a) While a trust is revocable, the trustee may follow a direction of the settlor that is contrary to the terms of the trust.

(b) If the terms of a trust confer upon a person other than the settlor of a revocable trust power to direct certain actions of the trustee, the trustee shall act in accordance with an exercise of the power unless the attempted exercise is manifestly contrary to the terms of the trust or the trustee knows the attempted exercise would constitute a serious breach of a fiduciary duty that the person holding the power owes to the beneficiaries of the trust.

(c) The terms of a trust may confer upon a trustee or other person a power to direct the modification or termination of the trust.

(d) A person, other than a beneficiary, who holds a power to direct is presumptively a fiduciary who, as such, is required to act in good faith with regard to the purposes of the trust and the interests of the beneficiaries. The holder of a power to direct is liable for any loss that results from breach of a fiduciary duty.
14 V.S.A. § 3172 — VT Code / Title 14 / Chapter 114 / Section 3172
§ 3172. Accepting guardianship transferred from another state
Status: in_force

(a) To confirm transfer of a guardianship or conservatorship transferred to this State under provisions similar to section 3171 of this title, the guardian or conservator must petition the Probate Division of the Superior Court in this State to accept the guardianship or conservatorship. The petition must also include a certified copy of the other state's provisional order of transfer.

(b) Notice of a petition under subsection (a) of this section must be given to those persons that would be entitled to notice if the petition were a petition for the appointment of a guardian or issuance of a protective order in both the transferring state and this State. The notice must be given in the same manner as notice is required to be given in this State.

(c) On the Probate Division's own motion or on request of the guardian or conservator, the incapacitated or protected person, or other person required to be notified of the proceeding, the court shall hold a hearing on a petition filed pursuant to subsection (a) of this section.

(d) The Probate Division shall issue an order provisionally granting a petition filed under subsection (a) of this section unless:

(1) an objection is made, and the objector establishes that transfer of the proceeding would be contrary to the interests of the incapacitated or protected person; or

(2) the guardian or conservator is ineligible for appointment in this State.

(e) The Probate Division shall issue a final order accepting the proceeding and appointing the guardian or conservator as guardian in this State upon its receipt from the court from which the proceeding is being transferred of a final order issued under provisions similar to section 3171 of this title transferring the proceeding to this State.

(f) Not later than 90 days after issuance of a final order accepting transfer of a guardianship or conservatorship, the Probate Division shall determine whether the guardianship or conservatorship needs to be modified to conform to the law of this State.

(g) In granting a petition under this section, the Probate Division shall recognize a guardianship or conservatorship order from another state, including the determination of the incapacitated or protected person's incapacity and the appointment of the guardian or conservator.

(h) The denial by a Probate Division of the Superior Court of this State of a petition to accept a guardianship or conservatorship transferred from another state does not affect the ability of the guardian or conservator to seek appointment as guardian in this State under this title if the Probate Division has jurisdiction to make an appointment other than by reason of the provisional order of transfer.
14 V.S.A. § 4035 — VT Code / Title 14 / Chapter 127 / Section 4035
§ 4035. Tangible personal property
Status: in_force

Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to tangible personal property authorizes the agent to:

(1) demand, buy, receive, accept as a gift or as security for an extension of credit, or otherwise acquire or reject ownership or possession of tangible personal property or an interest in tangible personal property;

(2) sell, exchange, or convey, with or without covenants, representations, or warranties; quitclaim; release; surrender; create a security interest in; grant options concerning; lease; sublease; or otherwise dispose of tangible personal property or an interest in tangible personal property;

(3) grant a security interest in tangible personal property or an interest in tangible personal property as security to borrow money or pay, renew, or extend the time of payment of a debt of the principal or a debt guaranteed by the principal;

(4) release, assign, satisfy, or enforce by litigation or otherwise a security interest, lien, or other claim on behalf of the principal with respect to tangible personal property or an interest in tangible personal property;

(5) manage or conserve tangible personal property or an interest in tangible personal property on behalf of the principal, including:

(A) insuring against liability or casualty or other loss;

(B) obtaining or regaining possession of or protecting the property or interest, by litigation or otherwise;

(C) paying, assessing, compromising, or contesting taxes or assessments or applying for and receiving refunds in connection with taxes or assessments;

(D) moving the property from place to place;

(E) storing the property for hire or on a gratuitous bailment; and

(F) using and making repairs, alterations, or improvements to the property; and

(6) change the form of title of an interest in tangible personal property.
14 V.S.A. § 2798 — VT Code / Title 14 / Chapter 111 / Section 2798
§ 2798. Guardian may sell personalty and support ward
Status: in_force

When it is necessary or for the interest of his or her ward, the guardian shall sell his or her personal estate. Out of the proceeds, and the income of his or her real estate, if sufficient, such guardian shall pay the necessary expenses of the maintenance and education of his or her ward.
14 V.S.A. § 3152 — VT Code / Title 14 / Chapter 114 / Section 3152
§ 3152. Definitions
Status: in_force

In this chapter:

(1) “Adult” means an individual who has attained 18 years of age.

(2) “Conservator” means a person appointed by the court to administer the property of an adult.

(3) “Guardian” means a person appointed by the court to make decisions regarding an adult, including a person appointed under this title.

(4) “Guardianship order” means an order appointing a guardian.

(5) “Guardianship proceeding” means a judicial proceeding in which an order for the appointment of a guardian is sought or has been issued.

(6) “Incapacitated person” means an adult for whom a guardian has been appointed.

(7) “Party” means the respondent, petitioner, guardian, conservator, or any other person allowed by the court to participate in a guardianship or protective proceeding.

(8) “Person,” except in the term “incapacitated person” or “protected person,” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.

(9) “Protected person” means an adult for whom a protective order has been issued.

(10) “Protective order” means an order appointing a conservator or other order related to the management of an adult's property.

(11) “Protective proceeding” means a judicial proceeding in which a protective order is sought or has been issued.

(12) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.

(13) “Respondent” means an adult for whom a protective order or the appointment of a guardian is sought.

(14) “State” means a state of the United States, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, a federally recognized Indian tribe, or any territory or insular possession subject to the jurisdiction of the United States.
14 V.S.A. § 3556 — VT Code / Title 14 / Chapter 125 / Section 3556
§ 3556. Procedure for disclosing digital assets
Status: in_force

(a) When disclosing digital assets of a user under this chapter, the custodian may in its sole discretion:

(1) grant a fiduciary or designated recipient full access to the user's account;

(2) grant a fiduciary or designated recipient partial access to the user's account sufficient to perform the tasks with which the fiduciary or designated recipient is charged; or

(3) provide a fiduciary or designated recipient a copy in a record of any digital asset that, on the date the custodian received the request for disclosure, the user could have accessed if the user were alive and had full capacity and access to the account.

(b) A custodian may assess a reasonable administrative charge for the cost of disclosing digital assets under this chapter.

(c) A custodian need not disclose under this chapter a digital asset deleted by a user.

(d) If a user directs or a fiduciary requests a custodian to disclose under this chapter some, but not all, of the user's digital assets, the custodian need not disclose the assets if segregation of the assets would impose an undue burden on the custodian. If the custodian believes the direction or request imposes an undue burden, the custodian or fiduciary may seek an order from the court to disclose:

(1) a subset limited by date of the user's digital assets;

(2) all of the user's digital assets to the fiduciary or designated recipient;

(3) none of the user's digital assets; or

(4) all of the user's digital assets to the court for review in camera.
14 V.S.A. § 1055 — VT Code / Title 14 / Chapter 63 / Section 1055
§ 1055. Accounts of executors and administrators; time of rendering; examination
Status: in_force

An executor or administrator shall render an account of his or her administration within one year from the time of receiving letters testamentary or of administration, and annually thereafter, or otherwise as ordered by the Probate Division of Superior Court until the estate is wholly settled. The fiduciary may be examined on oath upon any matter relating to the account.
14 V.S.A. § 1722 — VT Code / Title 14 / Chapter 77 / Section 1722
§ 1722. Parties interested may have order on giving bond
Status: in_force

An order for distribution may be made on motion of the executor or administrator or of one or more persons interested in the estate. The heirs, devisees, or legatees shall not be entitled to an order for distribution of their shares until the conditions for distribution described in section 1721 of this title have been satisfied, unless they give a bond, with such surety as the court directs, to secure the payment of the amounts necessary to satisfy the conditions and to indemnify the executor or administrator against the same.
14 V.S.A. § 926 — VT Code / Title 14 / Chapter 61 / Section 926
§ 926. Revocation of letters not to avoid acts under them
Status: in_force

Before the revocation of his or her letters testamentary or of administration, the acts of an executor or administrator shall be valid the same as if revocation had not been made.
14 V.S.A. § 3566 — VT Code / Title 14 / Chapter 125 / Section 3566
§ 3566. Custodian compliance and immunity
Status: in_force

(a) Not later than 60 days after receipt of the information required by sections 3557-3565 of this title, a custodian shall comply with a request under this chapter from a fiduciary or designated recipient to disclose digital assets or terminate an account. If the custodian fails to comply with the request, the fiduciary or designated recipient may apply to the court for an order directing compliance.

(b) An order under subsection (a) of this section directing compliance shall contain a finding that compliance is not in violation of 18 U.S.C. § 2702.

(c) A custodian may notify the user that a request for disclosure or to terminate an account was made under this chapter.

(d) A custodian may deny a request under this chapter from a fiduciary or designated recipient for disclosure of digital assets or to terminate an account if the custodian is aware of any lawful access to the account following the receipt of the fiduciary's request.

(e) This chapter shall not limit a custodian's ability to obtain, or require a fiduciary or designated recipient requesting disclosure or termination under this chapter to obtain, a court order that:

(1) specifies that an account belongs to the person under guardianship or the principal;

(2) specifies that there is sufficient consent from the person under guardianship or the principal to support the requested disclosure; and

(3) contains a finding required by law other than this chapter.

(f) A custodian and its officers, employees, and agents shall be immune from liability for any act or omission done in good faith compliance with this chapter.
14 V.S.A. § 3166 — VT Code / Title 14 / Chapter 114 / Section 3166
§ 3166. Appropriate forum
Status: in_force

(a) A Probate Division of the Superior Court of this State having jurisdiction under section 3163 of this title to appoint a guardian or issue a protective order may decline to exercise its jurisdiction if it determines at any time that a court of another state is a more appropriate forum.

(b) If a Probate Division of the Superior Court of this State declines to exercise its jurisdiction under subsection (a) of this section, it shall either dismiss or stay the proceeding. The Probate Division may impose any condition the court considers just and proper, including the condition that a petition for the appointment of a guardian or issuance of a protective order be filed promptly in another state.

(c) In determining whether it is an appropriate forum, the Probate Division shall consider all relevant factors, including:

(1) any expressed preference of the respondent;

(2) whether abuse, neglect, or exploitation of the respondent has occurred or is likely to occur and which state could best protect the respondent from the abuse, neglect, or exploitation;

(3) the length of time the respondent was physically present in or was a legal resident of this or another state;

(4) the distance of the respondent from the court in each state;

(5) the financial circumstances of the respondent's estate;

(6) the nature and location of the evidence;

(7) the ability of the court of each state to decide the issue expeditiously and the procedures necessary to present evidence;

(8) the familiarity of the court of each state with the facts and issues in the proceeding; and

(9) if an appointment were made, the court's ability to monitor the conduct of the guardian or conservator.
14 V.S.A. § 2886 — VT Code / Title 14 / Chapter 111 / Section 2886
§ 2886. License when guardian or ward resides out of state
Status: in_force

On motion to the Probate Division of the Superior Court for an order to sell the real estate of a ward, when the sale is necessary or conducive to the interests of that person, a license may be granted as provided in this chapter, although the guardian making the motion, or the ward, or both, reside out of the State.
14 V.S.A. § 4053 — VT Code / Title 14 / Chapter 127 / Section 4053
§ 4053. Agent's certification
Status: in_force

The following optional form may be used by an agent to certify facts concerning a power of attorney.

AGENT'S CERTIFICATION AS TO THE VALIDITY OF POWER OF ATTORNEY AND AGENT'S AUTHORITY

State of_______________________________________

[County] of _______________________________________ ]

I, (Name of Agent), _______________________________________ certify under penalty of perjury that _______________________________________(Name of Principal) granted me authority as an agent or successor agent in a power of attorney dated_________________________________________ .

I further certify that to my knowledge:

(1) the Principal is alive and has not revoked the Power of Attorney or my authority to act under the Power of Attorney and the Power of Attorney and my authority to act under the Power of Attorney have not terminated;

(2) if the Power of Attorney was drafted to become effective upon the happening of an event or contingency, the event or contingency has occurred;

(3) if I was named as a successor agent, the prior agent is no longer able or willing to serve; and

(4) (Insert other relevant statements below) ----------------- _________________________________________ ----------------- _________________________________________ ----------------- _________________________________________ ----------------- _________________________________________ ----------------- _________________________________________ SIGNATURE AND ACKNOWLEDGMENT ----------------- _________________________________________

Agent's Name Printed _______________________________________________________________________

Agent's Address _______________________________________________________________________

Agent's Telephone Number _______________________________________________________________________

This document was acknowledged before me on (Date) _________________________________________ by _______________________________________________________________________ (Name of Agent)

_______________________________________________________________________Signature of Notary (Seal, if any)

My commission expires: _________________________________________
14A V.S.A. § 1428 — VT Code / Title 14A / Chapter 14 / Section 1428
§ 1428. Uniformity of application and construction
Status: in_force

In applying and construing this Uniform Act, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
14A V.S.A. § 413 — VT Code / Title 14A / Chapter 4 / Section 413
§ 413. Cy pres
Status: in_force

(a) Except as otherwise provided in subsection (b) of this section, if a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful:

(1) the trust does not fail, in whole or in part;

(2) the trust property does not revert to the settlor or the settlor's successors in interest; and

(3) the Probate Division of the Superior Court, on motion of any trustee, or any interested person, or the Attorney General, may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor's charitable purposes.

(b) A provision in the terms of a charitable trust that would result in distribution of the trust property to a noncharitable beneficiary prevails over the power of the Probate Division of the Superior Court under subsection (a) of this section to apply cy pres to modify or terminate the trust only if, when the provision takes effect:

(1) the trust property is to revert to the settlor and the settlor is still living; or

(2) fewer than 21 years have elapsed since the date of the trust's creation.
14 V.S.A. § 1730 — VT Code / Title 14 / Chapter 77 / Section 1730
§ 1730. Partition of real estate in different counties
Status: in_force

If the real estate lies in different counties, the Probate Division of the Superior Court may appoint different commissioners for each county. The estate in each county shall be divided separately as though there were no other estate to be divided.
14 V.S.A. § 2 — VT Code / Title 14 / Chapter 1 / Section 2
§ 2. Deposit of will for safekeeping; delivery; final disposition
Status: repealed

(a) A will may be deposited for safekeeping in the Probate Division of the Superior Court for the district in which the testator resides on payment to the court of the applicable fee required by 32 V.S.A. § 1434(a)(18). The register shall give to the testator a receipt, shall safely keep each will so deposited, and shall keep an index of the wills so deposited.

(b) Each will so deposited shall be enclosed in a sealed envelope on which is written the name and address of the testator and the names and addresses of the executors named in the will. The will shall not be opened until it is delivered to a person entitled to receive it or until otherwise disposed of by the court.

(c) During the life of the testator, that will shall be delivered only to the testator or in accordance with the testator's order in writing duly acknowledged or otherwise proved to the satisfaction of the court, but the testator's duly authorized legal guardian or attorney-in-fact may at any time inspect and copy the will in the presence of the judge or register.

(d) [Repealed.]

(e) Except as provided in this section, wills deposited for safekeeping or any index of wills so deposited are not open to public inspection during the life of the testator.
14A V.S.A. § 1004 — VT Code / Title 14A / Chapter 10 / Section 1004
§ 1004. Attorney's fees and costs
Status: in_force

In a judicial proceeding involving the administration of a trust, the Probate Division of the Superior Court, as justice and equity may require, may award costs and expenses, including reasonable attorney's fees, to any party, to be paid by another party or from the trust that is the subject of the controversy.
14A V.S.A. § 708 — VT Code / Title 14A / Chapter 7 / Section 708
§ 708. Compensation of trustee
Status: in_force

(a) If the terms of a trust do not specify the trustee's compensation, a trustee is entitled to compensation that is reasonable under the circumstances.

(b) If the terms of a trust specify the trustee's compensation, the trustee is entitled to be compensated as specified, but the Probate Division of the Superior Court may allow more or less compensation if:

(1) the duties of the trustee are substantially different from those contemplated when the trust was created; or

(2) the compensation specified by the terms of the trust would be unreasonably low or high.

(c)(1) Factors for the Probate Division of the Superior Court to consider in deciding upon a trustee's compensation shall include:

(A) the size of the trust;

(B) the nature and number of the assets;

(C) the results obtained;

(D) the time and responsibility required;

(E) the expertise required;

(F) any management or sale of real property or closely held business interests;

(G) any involvement in litigation to protect the trust property;

(H) the fee customarily charged in the locality for similar services;

(I) the experience, reputation, and ability of the person performing the services;

(J) the effect that the particular employment may have on the ability of the person employed to engage in other employment;

(K) the time limitations imposed by the trustee or by the circumstances; and

(L) other relevant factors.

(2) The order of the factors in this subsection does not imply their relative importance.
14 V.S.A. § 3193 — VT Code / Title 14 / Chapter 114 / Section 3193
§ 3193. Transitional provision
Status: in_force

(a) This chapter applies to guardianship and protective proceedings begun on or after July 1, 2011.

(b) Subchapters 1, 3, and 4 of this chapter and sections 3191 and 3192 of this title apply to proceedings begun before July 1, 2011, regardless of whether a guardianship or protective order has been issued.
14 V.S.A. § 303 — VT Code / Title 14 / Chapter 42 / Section 303
§ 303. Afterborn heirs
Status: in_force

For purposes of this chapter and chapter 1 of this title relating to wills, an individual in gestation at a particular time is treated as living at that time if the individual lives 120 hours or more after birth.
14A V.S.A. § 416 — VT Code / Title 14A / Chapter 4 / Section 416
§ 416. Modification to achieve settlor's tax objectives
Status: in_force

The Probate Division of the Superior Court may modify the terms of a trust to achieve the settlor's tax objectives if the modification is not contrary to the settlor's probable intention. The Probate Division of the Superior Court may provide that the modification has retroactive effect.
14 V.S.A. § 2926 — VT Code / Title 14 / Chapter 111 / Section 2926
§ 2926. Surety may intervene as party; rights of surety
Status: in_force

Upon the settlement of a guardian's account, any person interested as surety in respect to the account may intervene as a party to the accounting with the same rights as the surety of an administrator in like cases.
14 V.S.A. § 3412 — VT Code / Title 14 / Chapter 120 / Section 3412
§ 3412. Definitions
Status: in_force

In this chapter:

(1) “Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community.

(2) “Endowment fund” means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use.

(3) “Gift instrument” means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund.

(4) “Institution” means:

(A) a person, other than an individual, organized and operated exclusively for charitable purposes;

(B) a government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose; or

(C) a trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated.

(5) “Institutional fund” means a fund held by an institution exclusively for charitable purposes. The term does not include:

(A) program-related assets;

(B) a fund held for an institution by a trustee that is not an institution; or

(C) a fund in which a beneficiary that is not an institution has an interest, other than an interest that could arise upon violation or failure of the purposes of the fund.

(6) “Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.

(7) “Program-related asset” means an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment.

(8) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
14 V.S.A. § 1212 — VT Code / Title 14 / Chapter 66 / Section 1212
§ 1212. Execution and levies prohibited
Status: in_force

No execution may issue upon nor may any levy be made against any property of the estate under any judgment against a decedent or an executor or administrator, but this section shall not be construed to prevent the enforcement of mortgages, pledges, or liens upon real or personal property in an appropriate proceeding.
14 V.S.A. § 965 — VT Code / Title 14 / Chapter 61 / Section 965
§ 965. Bond
Status: in_force

Before entering upon the duties of his or her trust, a special administrator shall give a bond as the court directs, conditioned that he or she will make and return a true inventory of the goods, chattels, rights, credits, and effects of the deceased that come to his or her possession or knowledge, and that he or she will truly account for such as are received by him or her, when required by the Probate Division of the Superior Court, and will deliver the same to the person afterwards appointed executor or administrator or to a person authorized to receive the same.