700-00153 Guidance: Receipt (Vermont)

The 700-00153 Receipt form is used in Vermont during the probate process when a beneficiary or other interested party acknowledges receipt of property or cash from a fiduciary, such as an executor or an estate or trustee of a trust. This form is crucial for documenting the distribution of assets and ensuring all parties have received their due share. - Prior forms might include: - **Inventory of the Estate**: Lists all assets in the estate. - **Final Accounting**: Details the fiduciary's management of the estate. - **Consent to Distribution**: Shows agreement from all parties on asset distribution. Completion of the Receipt form generally follows the approval of a distribution plan by the Probate Division, which allows the actual disbursement of the estate's assets. Once the assets are distributed, this form serves as an official record that the items have been received in either full or partial satisfaction of a party's interest in the estate, thereby closing out this particular phase of the probate process or guardianship.