Deciding Which Assets to List on a Vermont Small‑Estate Affidavit (or Equivalent)

Short answer: In Vermont, you list only assets that are solely owned by the decedent and that you intend to claim or collect through the small‑estate procedure or similar affidavit. Do not list assets that already pass outside probate (joint accounts, accounts with designated beneficiaries, life insurance with a named beneficiary, or property owned jointly). Real estate often requires formal probate or a different process. Always check the title, beneficiary designations, and the receiving institution’s rules before completing an affidavit.

Detailed Answer — What to include and what to leave out

This answer assumes you are handling a small estate in Vermont and are using an affidavit or the probate court’s simplified procedures to collect assets. Vermont does not use one identical, uniform “small estate affidavit” in every situation; collection methods vary by asset type and by the institution that controls the asset. Below is a step‑by‑step approach to deciding which assets to list and how to treat values.

1. Start with an inventory

• List every account, property item, vehicle, life insurance policy, retirement account, and safe‑deposit box you can find.
• For each item, note the title/ownership language exactly as it appears on the account or deed (for example: “Jane Doe, sole owner”; “John and Jane Doe, joint tenants with right of survivorship”; “Jane Doe, beneficiary: Mary Smith”).

2. Assets you generally should list

List assets that meet these conditions: (a) they are in the decedent’s name alone, and (b) the institution will accept an affidavit or small‑estate procedure to release them. Typical examples:

• Bank and brokerage accounts titled solely in the decedent’s name (if the bank permits affidavit collection).
• Personal property (furniture, jewelry, household goods) that you will claim for distribution.
• Motor vehicles titled solely in the decedent’s name when the Vermont DMV allows transfer by affidavit or short procedure.
• Small life insurance proceeds or accounts where no beneficiary is named and the insurer accepts an affidavit.

3. Assets to leave off the affidavit (or put as “$0” or “not claimed”)

Do not list or try to collect assets that already pass automatically or that require formal probate or special transfer procedures:

• Jointly owned property (joint tenancy or tenancy by the entirety). These usually pass to the surviving owner by operation of law. Do not include them as probate assets.
• Accounts or policies with a named beneficiary (payable‑on‑death, transfer‑on‑death, retirement accounts with beneficiary designations, life insurance). Those go to the beneficiary outside probate.
• Real estate (land and homes). Real property typically requires a deed transfer and often formal probate or a court order—do not assume a small‑estate affidavit will transfer title.
• Assets that the institution explicitly refuses to release via affidavit. Some banks, brokers, or insurers will only pay after they see Letters Testamentary or an appointed personal representative.

4. When to put zero or leave fields blank

• If an asset is not being claimed in the affidavit because it passes to a beneficiary or co‑owner, either leave it off the affidavit or list it and show its status as “passes to beneficiary/co‑owner — not claimed.” That makes your intentions clear to the institution reviewing the affidavit.
• Do not put “$0” as the value for an asset that has real value unless you are explicitly disclaiming it. Misstating values can create legal problems. If you are unsure about value, provide a good faith estimate and label it as such.
• If the affidavit form has mandatory fields you cannot complete (for example, value), contact the issuing court or the institution for guidance before filing. Some forms allow “unknown” or “approximate” values with supporting notes.

5. Check each institution’s requirements

Even when Vermont’s probate procedures permit an affidavit, banks, brokers, insurers, and the DMV each have their own internal rules about what they will release and what supporting documents they require. Before filing or signing anything:

• Call the bank, insurance company, or brokerage and ask specifically what they will accept to release funds (a short affidavit, certified death certificate, copy of the will, or Letters?).
• Ask whether they will accept estimated values or require appraisals for items such as jewelry, art, or securities.
• Get any institution’s instructions in writing if possible.

6. When small‑estate procedures won’t work

You will likely need formal probate or appointment of a personal representative if any of the following apply:

• The estate includes real estate that needs to be transferred or sold.
• Major assets exceed what an institution will permit to be handled by affidavit.
• Creditors create disputes or the estate is contested.
• Multiple heirs disagree about distribution.

7. Practical documentation to attach

• Certified copy of the decedent’s death certificate.
• Account statements or deeds showing the decedent’s title.
• Copies of beneficiary forms or beneficiary names where applicable (to show why you are not claiming an account).
• Any written institution guidance you received about accepting an affidavit.

Where to get Vermont‑specific help and forms

Vermont’s Probate Division and local probate courts can explain whether a simplified collection method will work for the assets you have. Useful official resources:

• Vermont Judiciary — Probate Division general information: https://www.vermontjudiciary.org/
• Vermont Statutes (Title 14 — Estates and Trusts) for general probate law: https://legislature.vermont.gov/statutes/title/14
• Vermont Department of Motor Vehicles — vehicle title transfer questions: https://dmv.vermont.gov/vehicles

Helpful Hints

• Begin by identifying account titles and beneficiary designations — they determine whether the asset is probate property.
• Call institutions early. Their willingness to accept an affidavit often decides whether to use the small‑estate procedure or seek formal probate.
• Do not guess values. If you must estimate, mark them clearly as estimates and keep documentation supporting your estimate.
• If real estate is involved, plan for formal probate or a deed transfer; affidavits rarely transfer title to land without additional court steps.
• When in doubt, consult the Probate Division of the Vermont superior court or a Vermont attorney experienced in probate — especially if any creditor claims or family disputes exist.
• Keep organized records: a clear inventory, copies of titles and beneficiary forms, and copies of correspondence with institutions speeds handling and reduces disputes.

Disclaimer: This article explains general principles under Vermont law and is for informational purposes only. It is not legal advice. Laws vary by situation and change over time. For legal advice tailored to your situation, consult a licensed Vermont attorney or the Probate Division of the Vermont Superior Court.