Probate question about providing a bond?
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
Guarantee that you will fulfill the duites of the executor. Call a probate atty.
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.