When someone dies in Vermont, figuring out what they owned is one of the first and most important jobs for the executor or administrator. This task is officially called the probate inventory. It’s not just a list; it’s a legal document you submit to the probate court that paints a complete picture of the estate’s assets. Getting it right matters because it affects everything else in the probate process from paying debts and taxes to distributing money to the heirs.

What exactly is a probate inventory in Vermont?

In Vermont, a probate inventory is a detailed, sworn statement you file with the court. It lists every asset the deceased person owned at the time of their death. The goal is to establish the estate’s total value. Assets include things like bank accounts, real estate, vehicles, investments, and personal property. You must value each item as of the date of death. This official inventory becomes the court’s record of what the estate contains.

When do you need to create this inventory?

You start this process soon after you are officially appointed by the court as the executor or administrator. Vermont law gives you a specific timeframe to complete and file it. Typically, you must file the inventory within 90 days after you receive your official letters of authority from the court. It’s a core part of your early duties as an executor after a death.

What kind of things do you list?

You list anything of value. Common categories include:

• Real estate: The family home, vacation property, or land.
• Bank accounts: Checking, savings, and certificates of deposit.
• Investments: Stocks, bonds, and retirement accounts.
• Personal property: Cars, jewelry, furniture, and collectibles.
• Business interests: Ownership in a company or partnership.

For items like bank accounts and financial assets, you need to provide statements showing the exact balance on the date of death.

How do you find and value everything?

Start by searching the deceased person’s records. Look for bank statements, tax returns, deeds, and insurance policies. You may need to contact financial institutions directly. For physical items like a house or car, you often need a professional appraisal or a market valuation to determine the fair date-of-death value. A good step-by-step guide can walk you through this discovery process.

A common mistake: forgetting joint or non-probate assets

Many people mistakenly think they only list assets owned solely by the deceased. In Vermont, you must also include certain assets that might not go through probate. For example, if the deceased owned a house jointly with a spouse, that asset still needs to be listed on the inventory, even though it will likely pass directly to the spouse. Its value is part of the estate’s total. Omitting these can create problems later.

What happens after you file the inventory?

The filed inventory serves as the official baseline. The court uses it to oversee the estate administration. Creditors and beneficiaries can review it. Later, you’ll use this same list to manage assets, pay valid claims, and eventually distribute what remains to the heirs. Any significant discrepancy between the inventory and the final accounting can raise questions from the court.

Tips for making the process smoother

Being organized is key. Start early and document everything you find. Use a simple worksheet or template to collect information as you go; it helps avoid last-minute scrambling. Be thorough but precise you don’t need to list every pencil, but you must list items of monetary value. If you’re unsure about how to value something, like an antique or a unique collection, get a qualified appraiser’s help. It’s worth the cost for accuracy.

For the official requirements and forms, you can refer to the Vermont Judiciary’s Probate Court website.

Your next steps as an executor

If you’re responsible for an estate in Vermont, your immediate path looks something like this:

• Gather all financial papers and records from the home.
• Secure properties like the house and car.
• Contact banks and financial institutions to get date-of-death statements.
• Begin listing and valuing each asset on a working draft.
• Complete the official court inventory form accurately and file it within your 90-day deadline.

Remember, this essential inventory process is the foundation. Doing it carefully makes every following step in probate more straightforward and less stressful.