Vermont State Specific Information

Will, Trust, Power of Attorney, and Estate Planning

Official state laws:

Vermont Statutes Annotated
Probate jurisdiction rests with the Probate Court
Probate laws are primarily under Title 14

Minimum age requirement to:

Distribute property by will: 18 (Section 14-1-1)
Which minor gets property: 21

Holographic will NOT recognized (No Section exists)

State taxes:

Estate tax: Equal to federal credit for state death taxes (Section 32-190-7442a)
State gift tax:Inheritance tax: No inheritance tax (Section 32-190-7442a)
- No state gift tax (Section 32-190-7442a)
- Anatomical Gift Act (Section 18-109)
Inheritance tax: No inheritance tax (Section 32-190-7442a)

Default rules: How property is distributed if there is no will, i.e. laws of intestate succession: (Section 14-45-551)

No surviving spouse, but there are surviving children:
- All of the estate goes to the surviving children split equally among them or to their children in accordance to their per stirpes share
Surviving spouse and
- Children of surviving spouse:
  - If one surviving child, then one-half (1/2) to surviving spouse, and if more than one surviving child, then one-third (1/3) to surviving spouse, and
  - If one surviving child, then the other one-half (1/2) to surviving child or grandchildren according to their per stirpes share, and if more than one surviving child, then the other two-thirds (2/3) to the surviving children or grandchildren according to their per stirpes shares
  - Children not of the surviving spouse (for example your children from a previous marriage):
    - If one surviving child, then one-half (1/2) to surviving spouse, and if more than one surviving child, then one-third (1/3) to surviving spouse, and
    - If one surviving child, then the other one-half (1/2) to surviving child or grandchildren according to their per stirpes share, and if more than one surviving child, then the other two-thirds (2/3) to the surviving children or grandchildren according to their per stirpes shares
    - No children and both of your parents of deceased:
      - If surviving spouse waives their statutory shares in the will, then $25,000 and one-half (1/2) of your estate and the other one-half (1/2) is treated as if your spouse did not survive you
    - No children, but at least one of your parents survives you:
      - $25,000 and one-half (1/2) of your estate and the other one-half (1/2) is treated as if your spouse did not survive you
At least one parent survives you, but no surviving spouse or children:
- All of your estate will pass to your surviving parents equally
No spouse, children, or parents:
- Siblings (brothers and sisters) equally or to their children according to their per stirpes share. If none, then to your next of kin

Who must be named as a beneficiary in your will:

Surviving spouse (Section 14-45-556), andChildren, born or adopted, and grandchildren of any of your deceased children (Section 14-45-555)
- Surviving spouse must be given either:
  - If there are no children, then the surviving spouse get one-third (1/3) of your real estate; see statute for more details (Section 14-43-461)
  - If there is only one child, then the surviving spouse get one-half (1/2) of your real estate; see statute for more details (Section 14-43-461)
  - If there are more than one children, then the surviving spouse get one-third (1/3) of your real estate; see statute for more details (Section 14-43-461)
Children, born or adopted, and grandchildren of any of your deceased children (Section 14-45-555)

Effects of changes in your marital status on your will:

You are divorced from the surviving spouse:
- Does not revoke the will (Section 14-1-11)
You get married without changing your will that does not provide for your new spouse:
- Does not revoke the will and the spouse is entitled to shares under state intestate law (Section 14-1-11)

Out of state executors: Must appoint in-state agent to accept legal papers, get judge’s approval, but must approve if requested for out of state executor is by the surviving spouse, civil union partner, adult child, parents, or guardians of minor children (Section 14-904)

Witnesses:

Minimum number of witnesses required: Three (Section 14-1-5)
Are witnesses allowed to be beneficiaries?: No, unless there are three other disinterested witnesses (Section 14-1-10)
Requirements to be a witness, witnesses must:
- be at least 18 years of age,
- not be your spouse, attending physician, or any person acting under the direction or control of your attending physician,
- not be entitled to anything in your will, and
- not have any claims against your estate

Property ownership (Section 27-1-2):

Common law state
Jointly held real estate is presumed to be held as tenancy in common, unless held jointly by spouses and then ownership is presumed to be a joint tenancy
Bank account deposits held jointly are payable to any survivor named in the bank account
Tenancy by the entirety is recognized in this state
Joint tenancy and tenancy in common are recognized

Other types of wills:

Self-proving wills recognized: No, not recognized.
Living will: Terminal Care Document (Section 18-5253) requires that you are in a terminal condition and your death will result without using life-sustaining procedures
Power of Attorney for Health Care (Section 18-5276)
Durable Power of Attorney (Section 14-3508)