The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 14A V.S.A. § 817)
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§ 817. Distribution upon termination
(a) Upon termination or partial termination of a trust, the trustee may send to the beneficiaries
a proposal for distribution. The right of any beneficiary to object to the proposed
distribution terminates if the beneficiary does not notify the trustee of an objection
within 30 days after the proposal was sent but only if the proposal informed the beneficiary
of the right to object and of the time allowed for objection.
(b) Upon the occurrence of an event terminating or partially terminating a trust, the
trustee shall proceed expeditiously to distribute the trust property to the persons
entitled to it, subject to the right of the trustee to retain a reasonable reserve
for the payment of debts, expenses, and taxes.
(c) A release by a beneficiary of a trustee from liability for breach of trust is invalid
to the extent:
(1) it was induced by improper conduct of the trustee; or
(2) the beneficiary, at the time of the release, did not know of the beneficiary’s rights
or of the material facts relating to the breach. (Added 2009, No. 20, § 1.)