Vermont Small Estate Affidavit

Introduction

Key Things to Know

1. 1

   A small estate affidavit is a sworn statement used to collect a decedent's property without full probate, but in Vermont the small estate process is a court petition filed with the Probate Division, not an affidavit handed to a bank.

2. 2

   The small estate route is available only when the decedent's estate has a fair market value of not more than $45,000 (14 V.S.A. Section 1901).

3. 3

   The estate must consist entirely of personal property, although it may include a qualifying time-share estate; any other real estate disqualifies the small estate process regardless of value (14 V.S.A. Section 1901).

4. 4

   Vermont sets no fixed waiting period in days after the death; instead the estate is opened by petition and a non-consenting interested party has 14 days after notice to object (14 V.S.A. Section 1901).

5. 5

   The proceeding is commenced by filing a petition to open a probate estate, a list of interested persons, the death certificate, an inventory, an affidavit of funeral expenses and debts, a bond without surety in the amount of the fair market value of the estate, and the will if there is one (14 V.S.A. Section 1901).

6. 6

   The court appoints a fiduciary and issues letters of administration, which the fiduciary uses to collect and distribute the estate (14 V.S.A. Section 1902).

7. 7

   If it is later determined that the estate was worth more than $45,000, the fiduciary must petition the court to convert the case to a full administration (14 V.S.A. Section 1901).

Vermont Requirements for Small Estate Affidavit

• Court Petition, Not a Bank Affidavit

  Vermont settles a small estate by filing a petition to open a probate estate in the Probate Division of the Superior Court, not by presenting an affidavit to a bank (14 V.S.A. Section 1901). The court appoints a fiduciary and issues letters of administration under Section 1902.

• $45,000 Value Limit

  The small estate route is available only when the decedent's estate has a fair market value of not more than $45,000 (14 V.S.A. Section 1901). If the estate is later found to exceed $45,000, the fiduciary must convert to full administration.

• Personal Property Only

  The estate must consist entirely of personal property, although it may include a qualifying time-share estate as defined by 32 V.S.A. Section 3619(a). Any other real estate disqualifies the small estate process regardless of value (14 V.S.A. Section 1901).

• No Fixed Wait, 14-Day Objection Window

  Vermont sets no fixed number of days to wait after the death before opening a small estate. A non-consenting interested party is given notice and may file objections with the court within 14 days after receiving the notice (14 V.S.A. Section 1901).

• Required Filings

  The proceeding is commenced by filing a petition to open a probate estate, a list of interested persons, the death certificate, an inventory, an affidavit of funeral expenses and debts, a bond without surety in the amount of the fair market value of the estate, and the will if any (14 V.S.A. Section 1901).

• Bond Without Surety

  The petitioner files a bond without surety in the amount of the fair market value of the estate as part of opening the small estate (14 V.S.A. Section 1901).

• Fiduciary and Letters of Administration

  After the petition is filed and any objection period passes, the court appoints a fiduciary and issues letters of administration under 14 V.S.A. Section 1902, which the fiduciary uses to collect, pay, and distribute the estate.

• Conversion If Over the Limit

  If it is determined after opening that the estate was worth more than $45,000 at the time of death, the fiduciary must petition the court to administer the estate under the rules for larger estates, and the court grants the petition if the value is confirmed and fees are paid (14 V.S.A. Section 1901).