A personal representative bond (probate and fiduciary surety bond class) guarantees the diligent and honest conduct of the personal representative. State probate codes almost universally allow this appointed estate administrator to bill the estate for his or her services. Compensation… Continue Reading →
A North Carolina probate bond is required of applicants for a fiduciary role in the estate of deceased persons under specific circumstances. An administrator bond (or administratrix), executor bond and probate bond are synonymous within the fiduciary class of business…. Continue Reading →
Surety bond underwriters involved in the review of guardianship bond applications must consider many factors when determining that a principal is capable of caretaking not only of a ward’s assets but of the ward himself or herself. The National Guardianship… Continue Reading →
“Legal guardianship” is a court granted authority in which a responsible person (a “fiduciary”) is appointed to manage the financial affairs and property interests of a third party (a “ward”). A guardianship bond is often required to protect the ward’s… Continue Reading →
Do you have the statutorily required ERISA fidelity bond in place? The first of the year is a good moment to review your compliance checklist! Federal ERISA section 412 and related regulations (29 C.F.R. § 2550.412-1 and 29 C.F.R. Part… Continue Reading →
In brief, an appointee must provide a New York administrator bond before letters of administration in a probate matter can be issued (N.Y. SCP. LAW §805), known as the New York Consolidated Laws Surrogate’s Court Procedure Act (Surety bond of administrator,… Continue Reading →
In probate proceedings a Michigan personal representative bond is required only under specific circumstances. The surety bond requirement is first addressed in Section 700.3603, which states that a bond is generally not required of a personal representative appointed in informal proceedings,… Continue Reading →
Have you applied for a probate administrator bond or personal representative bond and been declined for credit reasons? As a probate fiduciary your history of personal financial responsibility is very important, but if you have some credit problems it doesn’t… Continue Reading →
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