By: Matt Getty Legislation has been introduced in the Vermont House to increase the value threshold for implementing the “small estate” procedure in probate. This bill will ease the administration of estates in certain circumstances. An executor or administrator would still have a number of tasks and legal responsibilities, and the streamlined procedure would still […]
Archives for February 2019
Vermont Property Transfer Tax: Sale of Controlling Interest in Legal Entity
By: Matt Getty and Ron Morgan The Vermont State Senate is considering a bill, S.67, that would extend the scope of the Property Transfer Tax to apply to the sale of 50% or more of a corporation or other legal entity that owns real property in Vermont. Currently, the Property Transfer Tax is imposed on […]
Vermont Estate Tax Legislation
By: Matthew Getty New legislation (H.231) has been introduced in the Vermont House of Representatives to increase the Vermont estate tax exclusion to $5.75 million by 2022. The text and status of the bill can be found here: https://legislature.vermont.gov/bill/status/2020/H.231. The Vermont exclusion would remain separate from the federal exclusion, which is currently $11.4 million per […]