Probate question about providing a bond?
by admin ~ February 27th, 2007 . Filed under: Law & Ethics .
Caramel Deluxe asked:
I am in probate court and they want me to provide them with a $80,000 bond. What kind of bond is this? I thought it was a savings bond but the treasury dept told me that savings bonds don’t come for that amount. Help please.
Dino Chipps
I am in probate court and they want me to provide them with a $80,000 bond. What kind of bond is this? I thought it was a savings bond but the treasury dept told me that savings bonds don’t come for that amount. Help please.
Dino Chipps
February 28th, 2007 at 7:51 am
Guarantee that you will fulfill the duites of the executor. Call a probate atty.
February 28th, 2007 at 8:39 am
The bond the court wants you to file is a surety bond to provide assurance that you will faithfully perform your duties as personal representative.
I think you should use the services of an attorney to handle the decedent’s estate.
If you choose not to hire an attorney, contact a full service insurance agency and secure a bond through an insurance company. You will have to pay a bond premium on an annual basis until the estate is closed.