Vermont Code — 14A
Browse 154 sections in division 14A of the Vermont code. Each section page includes the full statutory text, official source links, and citation guidance.
Sections (showing up to 300)
- § 101. Short title This title may be cited as the Vermont Trust Code. (Added 2009, No. 20, § 1.)
- § 102. Scope
- § 103. Definitions In this title:
- § 104. Knowledge
- § 105. Default and mandatory rules
- § 106. Common law of trusts; principles of equity The
- § 107. Governing law The meaning and effect of the
- § 108. Principal place of administration
- § 109. Methods and waiver of notice
- § 110. Others treated as qualified beneficiaries
- § 111. Nonjudicial settlement agreements
- § 112. Rules of construction The rules of construction that
- § 201. Role of court in administration of trust
- § 202. Jurisdiction over trustee and beneficiary
- § 203. Subject matter jurisdiction
- § 204. Venue
- § 205. Matters in equity The Probate Division of the Superior Court may hear and determine in equity all matters relating to trusts in this title. (Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj
- § 301. Representation; basic effect
- § 302. Representation by holder of general testamentary power of
- § 303. Representation by fiduciaries and parents To the extent
- § 304. Representation by person having substantially identical interest Unless
- § 305. Appointment of representative
- § 401. Methods of creating trust A trust may be created:
- § 402. Requirements for creation
- § 403. Trusts created in other jurisdictions A trust not
- § 404. Trust purposes A trust may be created only to the extent its purposes are lawful, not contrary to public policy, and possible to achieve
- § 405. Charitable purposes; enforcement
- § 406. Creation of trust induced by fraud, duress, or undue influence A trust is void to the extent its creation was induced by fraud, duress, or undue influence. (Added 2009, No. 20, § 1.)
- § 407. Evidence of oral trust Except as required by
- § 408. Trust for care of animal
- § 409. Noncharitable trust without ascertainable beneficiary Except as otherwise provided in section 408 of this title or by another statute, the following rules apply:
- § 410. Modification or termination of trust; proceedings for approval or disapproval
- § 411. Modification or termination of noncharitable irrevocable trust by consent
- § 412. Modification or termination because of unanticipated circumstances or inability to administer trust effectively
- § 413. Cy pres
- § 414. Modification or termination of uneconomic trust
- § 415. Reformation to correct mistakes
- § 416. Modification to achieve settlor’s tax objectives The Probate Division of the Superior Court may modify the terms of a
- § 417. Combination and division of trusts After notice to
- § 418. Intentional and unlawful killing; termination of interest in trust
- § 501. Rights of beneficiary’s creditor or assignee To the extent a beneficiary’s interest is not protected by a spendthrift
- § 502. Spendthrift provision
- § 503. Exceptions to spendthrift provision
- § 504. Discretionary trusts; effect of standard
- § 505. Creditor’s claim against settlor
- § 506. Overdue distribution
- § 507. Personal obligation of trustee Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt. (Added 2009, No. 20, § 1.)
- § 601. Capacity of settlor of revocable trust The capacity
- § 602. Revocation or amendment of revocable trust
- § 603. Settlor’s powers; powers of withdrawal
- § 604. Limitation on action contesting validity of revocable trust; distribution of trust property
- § 701. Accepting or declining trusteeship
- § 702. Trustee’s bond
- § 703. Cotrustees
- § 704. Vacancy in trusteeship; appointment of successor
- § 705. Resignation of trustee
- § 706. Removal and replacement of trustee
- § 707. Delivery of property by former trustee
- § 708. Compensation of trustee
- § 709. Reimbursement of expenses
- § 801. Duty to administer trust Upon acceptance of a
- § 802. Duty of loyalty
- § 803. Impartiality If a trust has two or more
- § 804. Prudent administration A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust
- § 805. Costs of administration In administering a trust, the
- § 806. Trustee’s skills A trustee who has special skills
- § 807. Delegation by trustee
- § 808. Powers to direct
- § 809. Control and protection of trust property A trustee shall take reasonable steps to take control of and protect the trust property. (Added 2009, No. 20, § 1.)
- § 810. Recordkeeping and identification of trust property
- § 811. Enforcement and defense of claims A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust. (Added 2009, No. 20, § 1.)
- § 812. Collecting trust property A trustee shall take reasonable
- § 813. Duty to inform and report
- § 814. Discretionary powers; tax savings
- § 815. General powers of trustee
- § 816. Specific powers of trustee Without limiting the authority
- § 817. Distribution upon termination
- § 901. Prudent investor rule
- § 902. Standard of care; portfolio strategy; risk and return objectives
- § 903. Diversification A trustee shall diversify the investments of
- § 904. Duties at inception of trusteeship Within a reasonable
- § 905. Reviewing compliance Compliance with the prudent investor rule
- § 906. Language invoking standard of this chapter The following
- § 907. Total return unitrusts
- § 908. Express total return unitrusts
- § 1001. Remedies for breach of trust
- § 1002. Damages for breach of trust
- § 1003. Damages in absence of breach
- § 1004. Attorney’s fees and costs In a judicial proceeding involving the administration of a trust, the
- § 1005. Limitation of action against trustee
- § 1006. Reliance on trust instrument A trustee who acts
- § 1007. Event affecting administration or distribution If the happening
- § 1008. Exculpation of trustee
- § 1009. Beneficiary’s consent, release, or ratification A trustee is
- § 1010. Limitation on personal liability of trustee
- § 1011. Interest as general partner
- § 1012. Protection of person dealing with trustee
- § 1013. Certification of trust
- § 1101. Trust advisors and trust protectors
- § 1102. Trust advisors and trust protectors as fiduciaries
- § 1103. Trust advisor and trust protector subject to court
- § 1104. No duty to review actions of trustee, trust advisor, or trust protector
- § 1105. Fiduciary’s liability for action or inaction of trustee,
- § 1201. Uniformity of application and construction In applying and
- § 1202. Electronic records and signatures
- § 1203. Severability clause If any provision of this title
- § 1204. Application to existing relationships
- § 1301. Short title This chapter may be cited as the Uniform Directed Trust Act. (Added 2023, No. 104 (Adj
- § 1302. Definitions As used in this chapter:
- § 1303. Application; principal place of administration
- § 1304. Common law and principles of equity The common law and principles of equity supplement this chapter, except to the extent modified by this chapter or laws of this State other than this chapter. (Added 2023, No. 104 (Adj
- § 1305. Exclusions
- § 1306. Powers of trust director
- § 1307. Limitations on trust director
- § 1308. Duty and liability of trust director
- § 1309. Duty and liability of directed trustee
- § 1310. Duty to provide information to trust director or trustee
- § 1311. No duty to monitor, inform, or advise
- § 1312. Application to cotrustee The terms of a trust may relieve a cotrustee from duty and liability with respect
- § 1313. Limitation of action against trust director
- § 1314. Defenses in action against trust director In an action against a trust director for breach of trust, the director may
- § 1315. Jurisdiction over trust director
- § 1316. Office of trust director Unless the terms of a trust provide otherwise, the rules applicable to a trustee apply to a trust director regarding the following matters:
- § 1317. Uniformity of application and construction
- § 1318. Relation to Electronic Signatures in Global and National Commerce Act This chapter modifies, limits, or supersedes the
- § 1401. Short title
- § 1402. Definitions As used in this chapter:
- § 1403. Scope
- § 1404. Fiduciary duty
- § 1405. Application; governing law This chapter applies to a trust created before, on, or after the effective date of this act that:
- § 1406. Reasonable reliance A trustee or other person who reasonably relies on the validity of a distribution of
- § 1407. Notice; exercise of decanting power
- § 1408. Representation
- § 1409. Court involvement
- § 1410. Formalities An exercise of the decanting power shall be made in a record signed by an authorized fiduciary
- § 1411. Decanting power under expanded distributive discretion
- § 1412. Decanting power under limited distributive discretion
- § 1413. Trust for beneficiary with disability
- § 1414. Protection of charitable interest
- § 1415. Trust limitation on decanting
- § 1416. Change in compensation
- § 1417. Relief from liability and indemnification
- § 1418. Removal or replacement of authorized fiduciary
- § 1419. Tax-related limitations
- § 1420. Duration of second trust
- § 1421. Need to distribute not required
- § 1422. Savings provision
- § 1423. Trust for care of animal
- § 1424. Terms of second trust A reference in the Vermont Trust Code to a trust instrument or terms of the trust includes a second-trust instrument and the terms of the second trust. (Added 2023, No. 177 (Adj
- § 1425. Settlor
- § 1426. Later-discovered property
- § 1427. Obligations A debt, liability, or other obligation enforceable against property of a first trust is
- § 1428. Uniformity of application and construction In applying and construing this
- § 1429. Relation to Electronic Signatures in Global and National Commerce Act This chapter modifies, limits, or supersedes the