Vermont Statutes Title 14 Sec. 904
Terms Used In Vermont Statutes Title 14 Sec. 904
- Executor: A male person named in a will to carry out the decedent
- Executor: includes administrator with the will annexed. See
- Fiduciary: A trustee, executor, or administrator.
- Fiduciary: includes executor, administrator, special administrator, trustee, conservator, guardian of a minor, guardian of a spendthrift, voluntary guardian of a person who has an infirmity and total or limited guardian of an adult with a developmental disability, but excludes one who is merely a guardian ad litem. See
- Probate: Proving a will
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 904. Nonresident executor or administrator
(a) In all cases where the principal administration is in this State, the Probate Division of the Superior Court shall appoint an executor or administrator who is not domiciled in this State only at the discretion of the court.
(b) Any nonresident estate fiduciary shall forthwith designate in writing a resident of this State who accepts appointment as the resident agent of the nonresident estate fiduciary and agrees to accept service of legal process and other communications on behalf of the executor or administrator. The appointment and acceptance shall be filed with the court. Service of legal process against the nonresident executor or administrator may be accomplished by serving the resident agent. (Amended 1959, No. 262, § 30, eff. June 11, 1959; 1985, No. 144 (Adj. Sess.), § 36; 2009, No. 154 (Adj. Sess.), § 238a, eff. Feb. 1, 2011; 2017, No. 195 (Adj. Sess.), § 5.)
Vermont Statutes Title 14 Sec. 904
Terms Used In Vermont Statutes Title 14 Sec. 904
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Trustee: A person or institution holding and administering property in trust.
§ 904. Duties at inception of trusteeship
Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee shall review the trust assets and make and implement decisions concerning the retention and disposition of assets in order to bring the trust portfolio into compliance with the purposes, terms, distribution requirements, and other circumstances of the trust and with the requirements of this chapter. (Added 2009, No. 20, § 1.)