How to Make a Will in Vermont

Writing a will ensures your wishes are legally documented, and your loved ones are catered for once you are gone. You can make your will in Vermont by following the steps and formalities in this article.

What Are the Steps to Create a Will in Vermont?

The steps to create a will in Vermont are as follows:

1. Make a list of all your property and assets;
2. Decide who will inherit which property;
3. Make a list of your beneficiaries and the property you intend for them to inherit;
4. Appoint an executor who will be in charge of administering your estate;
5. Appoint a guardian for your minor children;
6. Appoint a guardian for your pets;
7. Write your will;
8. Sign your will in front of two competent witnesses;
9. Store your will safely, preferably in a safe deposit box or attorney’s office. 

What Happens if I Don’t Have a Will in Vermont?

When you do not have a will in Vermont, your estate will be distributed according to the intestacy laws. Intestacy laws in Vermont dictate that your property is passed down to your closest relatives, starting with your spouse and children, when you do not have a spouse, parents, siblings, and grandchildren. 

What Are the Requirements for Writing a Last Will and Testament in Vermont?

For one to write a valid in Vermont, the testator must be:

1. At least 18 years or older; and 
2. They must be of sound mind.

How Often Should You Review and Update Your Vermont Will?

You should revise and review your Vermont will regularly, preferably twice a year. Additionally, changes in your life may necessitate changing a will, such as the death of a loved one, the birth of a child, a falling out with one of the beneficiaries under a will, the acquisition of property, or the sale of property. 

How to Revise and Update Your Will in Vermont?

You can revise and update the will by creating an instrument known as a codicil, or you may write an entirely new will that must be executed and witnessed by two credible witnesses. To avert the risk of the will or codicil being invalid, you should consult LegalPen or an estate planning attorney.

What Makes a Will Valid in Vermont?

A will is valid in Vermont if it meets the following requirements:

1. Age: The testator should be at least 18 years old. The age requirement is justified to ensure that adults are mature and understand the consequences of their actions.
2. Sound mind: The testator must be of sound mind to understand the extent of their assets, the nature of making a will, and the implications of distributing property.
3. Signature: The testator must sign the will at the end of the document. Signing is a form of approval of the will’s contents.
4. Witnesses: The will must be witnessed by two competent witnesses who are not beneficiaries of the will.

Can a Handwritten Will Be Valid in Vermont?

Yes, a handwritten will is valid in Vermont. A handwritten will or holographic will must be written in the testator’s hand and signed by the testator. It does not have to be witnessed by any witnesses.

How Do I Sign My Vermont Will?

Section 5 of Chapter 14 of the Decedents Estates and Fiduciary Relations states that a will must be signed in the presence of two or more credible witnesses by the testator or in the testator’s name by some other person in the testator’s presence and by the testator’s express direction and attested and subscribed by the witnesses in the presence of the testator and each other.

What Can I Include in an Online Will in Vermont?

In your online will in Vermont, you can include the following:

1. A list of beneficiaries
2. A list of your assets;
3. Specific bequests to your beneficiaries;
4. A list of your debts and liabilities;
5. Name an executor or a personal representative; 
6. Name a guardian for your minor children;
7. Name a guardian for your pets;
8. Include your death and funeral wishes;

Types of Assets Covered in a Vermont Will

The types of assets one can cover in Vermont will include:

1. Real property, such as land and real estate

2. Personal Property: antiques, vehicles, sentimental items, jewelry, pets, personal items, furniture, and appliances.

3. Digital Assets: YouTube accounts, online accounts, social media, and other logins.

4. Money in bank accounts, company shares, business assets, and interests.

Can I Revoke or Change My Will in Vermont?

Yes, you can revoke or change a will in Vermont. However, for the revocation to be considered valid, the person revoking the will must have testamentary capacity, meaning be of sound mind and have mental competency, and they must have the intention to revoke the will. The intention to revoke the will can be expressed through explicit statements showing one’s intention to revoke and actual destruction of the will.

How Do You Revoke or Change Your Will in Vermont?

You can revoke or change a will in Vermont by:

1. Writing and executing a new will that revokes the existing will;
2. Writing and signing a document that expressly revokes a will in the presence of two competent witnesses.
3. Physically destroying the will by tearing, canceling, destroying, burning, or obliterating an existing will.

You can make minor changes to a will by writing and executing an instrument known as a “codicil”, which should be executed like a will. You can make significant changes to a will by writing a new will. The new will should be dated, signed by the testator, and witnessed by two credible witnesses. 

Can I Make a Digital or Electronic Will in Vermont?

No, you cannot make a digital or electronic will in Vermont. Vermont is one of the states that does not recognize electronic wills. You can make a digital will through electronic means; however, you have to print it and sign it physically in the presence of two competent witnesses.

Who Can Witness a Will in Vermont?

In Vermont, a will must be witnessed by two competent witnesses who are adults capable of understanding the implications of their actions. Section 10 of Chapter 14 of the Vermont Statutes Annotated states that any beneficial devise or legacy made or given in a will to a subscribing witness to the will or to the spouse of a subscribing witness shall be voidable unless there are two other competent, subscribing witnesses to the will.

Should My Will Name an Executor?

Yes, your will should name an executor. The executor can be an individual or an organization. The executor manages your estate, protects your assets, sues or is sued on behalf of the estate, and ensures the deceased’s wishes are respected. 

What Are the Vermont Will Executor Requirements?

No statutory requirements exist for a person who can qualify as an executor. However, generally, the executor should be:

1. An adult of sound mind
2. They should not be declared bankrupt;
3. They should be financially responsible
4. They should be persons of integrity. 

What Happens to a Will After Death in Vermont?

After death in Vermont, a petition is filed to admit the will to probate and appoint an executor if the executor is not elected in the will. After filing the petition, notice is issued to all the beneficiaries under the will and all known creditors. The appointed executor then prepares an inventory of the estate’s assets, pays the estate debts, and distributes the remaining assets among the designated beneficiaries after paying taxes, debts, and administrative costs.

What is the Impact of Marriage and Divorce on Your Vermont Will

Marriage and divorce revoke a will. Marriage revokes a will absolutely, even if it was made before marriage. However, if the will was made in contemplation of the marriage, subsequent marriage will not automatically revoke it. Divorce revokes the provisions made to a former spouse under the will unless the will was made in contemplation of the marriage. 

Do All Wills in Vermont Have to Go Through Probate?

Yes, all wills in Vermont have to go through probate. Compared to complex estates, smaller estates go through a simplified probate process. Smaller estates are those whose value is $45,000 or less. The simplified probate process takes less time, usually an average of six months, while the other probate process may take several years. 

Is Vermont a Community Property State?

No, Vermont is not a community property state but an equitable division state. Property is not divided on a 50/50 basis; it is divided fairly. Fairness denotes that the following factors are considered in the division of the property:

1. Monetary contributions of each spouse in the marriage;
2. Economic circumstances of each spouse;
3. The income and earning capacity of each spouse;
4. The age of the children;
5. The person with the custody of the children;
6. Non-monetary contributions to the household during the subsistence of the marriage include household chores, care for the children, and professional support for the other spouse, among other factors. 

How is Vermont Intestate Succession Done?

In Vermont, intestate succession is done according to the intestate succession laws. The intestate succession laws provide as follows:

1. When the decedent leaves children but no spouse, the children inherit everything equally.

2. When the decedent leaves a spouse without children or relatives, the spouse inherits everything.

3. The parents inherit everything when the decedent leaves parents but no spouse and children.

4. When the decedent leaves a spouse and children, your spouse takes ownership of household goods, and the rest of the estate is divided equally between your spouse and children.

How is Estate and Inheritance Tax in Vermont Done?

In Vermont, estate tax is applicable for estates over $5million. The percentage rates for taxes are progressive, ranging from 0.8% to 16%. However, inheritance tax is not applicable; beneficiaries do not have to pay inheritance tax for any inheritance they receive. In addition to estate tax, the deceased’s estate may be required to pay federal tax for estates whose value exceeds $ 13.8 million.