Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney in Vermont for guidance on your specific situation.
Detailed Answer
1. Appointment of a Personal Representative
When someone dies owning bank accounts in Vermont, you must open a probate case in the Probate Division of the Superior Court. A family member or interested person files a petition under 14 V.S.A. § 324 (14 V.S.A. § 324) to have a personal representative (also called an executor if named in the will) appointed. The court reviews the petition, verifies the will (if any), and issues an order naming the representative.
2. Obtaining Letters of Appointment
Once the court appoints a representative, it issues Letters Testamentary or Letters of Administration under 14 V.S.A. § 349 (14 V.S.A. § 349). These signed, sealed documents certify your authority to act on behalf of the estate. Banks require a certified death certificate plus these letters before allowing any disbursement.
3. Accessing the Bank Account
Present the bank with the following items at the branch where the account is held:
- Certified copy of the death certificate.
- Original or certified copy of your Letters Testamentary or Letters of Administration.
- Photo identification for the personal representative.
The bank will verify your authority and may place a temporary hold on the account until it confirms all requirements.
4. Paying Debts and Final Expenses
Under Vermont law, you must pay valid creditor claims and final expenses (funeral costs, taxes) before distributing any funds to beneficiaries. Creditor notice requirements appear in 14 V.S.A. § 349a (14 V.S.A. § 349a), and payment priorities are in 14 V.S.A. § 353 (14 V.S.A. § 353).
5. Small Estate Procedure
If the total value of the estate (excluding real property) is below the statutory threshold, you may use Vermont’s summary settlement process under 14 V.S.A. § 341 (14 V.S.A. § 341). This streamlined method lets you collect bank funds without full probate. You file a verified inventory and affidavit with the court, notify creditors, and then present court authorization to the bank.
Helpful Hints
- Order multiple certified death certificates early—they are essential for banks, life insurance carriers, and utility companies.
- Review the decedent’s will (if any) before petitioning for probate to confirm the named executor.
- Contact all financial institutions promptly; each bank may have its own internal procedures.
- Keep a detailed ledger of all withdrawals and disbursements to prepare the final accounting for the court.
- Consult Vermont’s Probate Court website for local filing fees and forms: www.vermontjudiciary.org/courts/probate-and-family.
- When in doubt, seek advice from a probate attorney to avoid personal liability as a personal representative.