|
|
|
 |
|
|
A person appointed by a court as administrator or executor to manage a decedent's or a disabled person's or minor's estate must ordinarily post a bond. This is a document saying the person will compensate the estate for any defalcation. The bond ordinarily must be a surety bond with an insurance company acting as surety. The insurance company charges a premium for acting as surety. The amount of the premium can be quite large in larger estates. A will can excuse the executor from posting a surety bond and the premium can be saved. Whether or not to do this depends on whether or not you want your beneficiary's interests insured against defalcation by the executor. || Back
to List of Topics
||
|
|
|
Donald M.
Thompson * 55 W. Monroe #3950; Chicago, IL 60603 - Illinois
Probate Lawyers |
