When someone passes away in Vermont, managing their estate involves a specific set of legal steps. One of those steps is completing a probate inventory affidavit. This isn't just paperwork it's the official record that lists everything the deceased owned. For families and executors, getting this document right is essential. It establishes a clear, truthful account of the estate's assets, which is required by the court and protects everyone involved.

What is a Vermont probate inventory affidavit?

An inventory affidavit is a sworn statement you file with the probate court. It details all the probate assets of the deceased person. Probate assets typically include things like bank accounts, real estate, vehicles, and personal belongings that were owned solely by the deceased and pass through the estate. The form itself is called an "Inventory," and you must sign it under oath, affirming the list is accurate and complete. This affidavit becomes a part of the official court record.

When do you need to file this affidavit?

You file the inventory affidavit after you have been formally appointed by the court as the executor or administrator. This happens after you file the initial petition to open the estate. Vermont law requires you to file the inventory within 60 days of your appointment. It's a middle step in the process, coming after the estate is opened and before you work on the final schedule of distribution that shows how assets will be allocated.

What should the inventory list include?

You need to list every asset that is part of the probate estate. Think about categories like:

• Real property: The family home, land, or other buildings in Vermont.
• Financial accounts: Checking and savings accounts, certificates of deposit.
• Vehicles: Cars, trucks, motorcycles.
• Personal property: Furniture, jewelry, art, collections.
• Other assets: Stocks, bonds, or business interests.

For each item, provide a description and a reasonable estimated value as of the date of death. You don't need professional appraisals for everything, but your values should be fair and defensible. For example, you might list "2008 Toyota Camry" with a value based on a quick online search, or "South Burlington condo" with its approximate market value.

What are common mistakes people make?

A few errors can slow down the probate process or cause problems.

• Omitting assets: Leaving out an asset, even a small one, is a serious mistake because the affidavit is sworn testimony. Be thorough.
• Including non-probate assets: Don't list items that bypass probate, like life insurance payable to a named beneficiary, or a jointly-owned house that passes automatically to the other owner.
• Using vague descriptions: "Some jewelry" isn't helpful. "Gold necklace and three silver rings" is better.
• Missing the deadline: Filing late can lead to reminders from the court and delays in closing the estate.
• Not signing properly: The form must be signed and sworn before a notary public or a probate register.

How do you value items accurately?

You don't need to be an expert, but you need to make a good-faith effort. For a car, use a resource like Kelley Blue Book for a baseline estimate. For household items, consider what they might sell for at a local consignment shop or online marketplace. For real estate, you can use a recent property tax assessment or a quick comparative market analysis. The key is to be reasonable and document how you arrived at the number if questioned.

What forms are involved with this affidavit?

The main form is the Vermont Probate Court "Inventory" form. You can get this from the specific probate court handling your case or from the state's online resources. It's one of several forms needed to administer an estate with a will, or without one. Understanding how to properly complete all probate forms will make this step much smoother.

What happens after you file the inventory affidavit?

The court reviews the filed inventory. It becomes the baseline for all future steps. Beneficiaries can review it, and it will be used to ensure debts are paid and assets are distributed correctly. Once accepted, you can proceed with paying valid claims against the estate and then preparing the final distribution plan. It's a cornerstone document for the entire administration.

A practical checklist for your Vermont probate inventory

• Gather all financial statements, deeds, titles, and records.
• Separate probate assets from non-probate assets (like jointly owned property or insurance with a beneficiary).
• List each probate asset with a clear description.
• Research and assign a reasonable fair market value to each item.
• Complete the official Vermont Probate Inventory form accurately.
• Sign the form in front of a notary public or probate register to swear to its truth.
• File the sworn affidavit with the probate court within 60 days of your appointment.
• Keep a copy for your records and for communicating with beneficiaries.