2015 Vermont Statutes
Title 14 - Decedents' Estates and Fiduciary Relations
Chapter 61 - Executors And Administrators
Subchapter 1: GENERAL PROVISIONS
§ 907 Residuary legatee as executor, bond; bond provision in will; further bond

§ 907. Residuary legatee as executor, bond; bond provision in will; further bond

(a) Instead of the bond required in section 906 of this title, an executor who is residuary legatee may give a bond in a sum and with those sureties as the probate division of the superior court directs, with the conditions only to pay the debts and legacies of the testator, and to return to the probate division of the superior court within 30 days a true and perfect inventory under oath according to the executor's best knowledge, information and belief of the goods, chattels, rights, credits and estate of the deceased which shall come to the executor's possession or knowledge, or to the possession of any other person for the executor.

(b) If the testator by will directs that no bond, or only the individual bond of the executor be required, instead of the bond prescribed in section 906 of this title, an individual bond may be given as directed in the will. A bond shall also be given in a sum and with those sureties as the probate division of the superior court directs, with the conditions only to pay the debts of the testator and return to the probate division of the superior court a true inventory under oath, according to the executor's best knowledge, information and belief, of the real estate and all the goods, chattels, rights and credits of the deceased coming to the executor's possession or knowledge.

(c) The probate division of the superior court may require of the executor a further bond in case of a subsequent change in circumstances, and for other sufficient cause with the second, third, and fourth conditions named in section 906 of this title. (Amended 1985, No. 144 (Adj. Sess.), § 39; 2009, No. 154 (Adj. Sess.), § 238a, eff. Feb. 1, 2011.)