2005 Vermont Code - § 1201. — Notice to creditors

§ 1201. Notice to creditors

(a) The probate court may issue an order excusing the executor or administrator from complying with the notice to creditors provisions of the rules of probate procedure when it appears to the court that:

(1) there are no debts existing against the decedent, or

(2) that the debts against the decedent are all known to the executor or administrator and there are funds to pay them, or

(3) the value of the estate does not exceed the sum of $2,500.00 and is assigned for the support of the surviving spouse.

(b) If notice is not given because an order is entered as provided in subsection (a) of this section, any assets distributed by the administrator or executor will be subject to any claims later established, and sections 1202 and 1203 of this title shall apply, but the executors or administrators will not be liable to distributees for losses to them when required to reimburse creditors. (Added 1975, No. 240 (Adj. Sess.), § 7; amended 1985, No. 144 (Adj. Sess.), § 58.)