700-00152 Guidance: Fiduciary's Closing Report (Vermont)

The Fiduciary's Closing Report Form (700-00152) is used in the final stages of the probate process in Vermont, typically after all duties related to the administration of an estate are fulfilled. This happens after the final decree has been issued, and allows the closure of the estate administration. The executor or fiduciary must first complete several key tasks: - **Inventory and Appraisal Forms**: These list and evaluate the estate's assets. - **Settlement of Debts**: Ensuring all outstanding debts and liabilities of the estate are paid. - **Distribution of Assets**: Assets must be distributed in accordance with the will (or state law if no will exists). - **Final Accounting**: A detailed accounting showing receipts, disbursements, and remaining estate assets, if applicable. The filing of the Fiduciary's Closing Report is necessary when the executor or fiduciary has confirmed that they have disbursed all estate assets to the entitled parties and gathered the necessary receipts or proof. Ultimately, this form requests that the court approve these actions and formally release the fiduciary from their duties, marking the legal end of the probate process.