Before the executor can be officially appointed, they must file an Estate Administration Bond.^[10] The bond acts as an insurance policy to guarantee the executor meets their obligations.

In some cases, the court may not require a surety on the bond. The heirs at law may also consent to waive surety by signing a Waiver of Surety on Estate Administration Bond.

Once the executor posts bond, they will officially be appointed and given custody of the estate. The court will give the executor a Certificate of Appointment, or Letters Testamentary, to prove that they have the authority to handle estate affairs.

The executor will be required to file an Inventory Schedule within 60 days of their appointment.^[11] 

A copy of the Inventory Schedule must be served on all interested persons with a Certificate of Service filed with the court.

If a spouse survives the decedent but is not the executor, the court will send them a Notice of Rights of Surviving Spouse within 30 days of filing the Inventory Schedule.^[12] The spouse will have four months to take advantage or waive certain rights with a Notice of Elections And/Or Waivers By Surviving Spouse. 

The executor must publish a Notice to Creditors in a local newspaper within 30 days of their appointment. A copy must also be filed with the court and sent to each known creditor.^[13] A copy of the Notice to Creditors must be filed with the court within 14 days of publication, and a copy must also be sent to any known or reasonably ascertainable creditor.

The notice gives creditors four months to make a claim against the estate.

In some cases, the executor may file a Motion to Waive Notice to Creditors to ask the court to waive notice^[14]. Creditors have one year to file a claim if the waiver is accepted.^[15]

Four months after publishing the Notice to Creditors, the executor may pay the claims against the estate.^[16] If the estate does not have sufficient funds to pay all claims, they should be paid in this order:^[17]

1. Administration expenses
2. Funeral, burial, and headstone expenses that do not exceed $3,800, as well as necessary hospital and medical expenses for the decedent’s final illness
3. Wages owed to employees of the decedent, not exceeding $300
4. All other claims

Creditors should give evidence of payment to the executor to be filed with the court.

The estate executor will be required to handle all tax returns for the estate and the decedent. In most cases, a U.S. Individual Tax Return must be filed with the IRS, and Form IN-111 Vermont Income Tax Return must be filed with the Vermont Department of Taxes.

If the estate generated a certain income level, a Federal Fiduciary Tax Return and a Vermont Fiduciary Return of Income may also need to be filed. Large estates may also need to pay state and federal estate tax.^[18]

Once all taxes have been settled, the executor should send the Vermont Department of Taxes an Application for Tax Clearance form. The Department of Taxes will then issue the executor a Clearance Letter stating that all taxes have been paid.

When the decedent’s debts have been paid, the executor will file a Summary of Account with Schedules & Motion to Allow Account with the court to show they managed the estate and to propose how the remaining assets will be distributed.

A copy of the Summary of Account and a Waiver of Final Accounting and Consent must be sent to all beneficiaries. The court will hold a hearing if any beneficiary does not consent or disagrees with the final accounting.

Once the final accounting has been approved, the court will issue a Final Decree of Distribution to the executor. This decree instructs the executor on how the remaining assets will be distributed. The executor will need to get a Receipt from every party that receives an asset from the estate. Once all assets are distributed, the executor will file a Fiduciary Closing Report and Discharge along with the receipts to the court, which will close the estate.