A bond may be an insurance policy required by a court for the benefit of a trust or an estate. A bond will often help ensure the legitimacy of the process, and can provide peace of mind for the beneficiaries. First, when required by the provisions of chapter one hundred and ninety-two and whenever required by the probate court, to make and return to the probate court a true inventory of all the deceased's real and personal property which at the time of making such inventory shall have come to his possession or knowledge, and to render upon oath a true account of his administration; Second, to deliver all the property of the deceased which may be received by him as such temporary executor or temporary administrator with the will annexed to any person who may be appointed executor, administrator or administrator with the will annexed of the deceased, or may be otherwise lawfully authorized to receive the same.". Responsibilities include gathering up and protecting the assets of the estate, obtaining information in regard to all beneficiaries named in the will and any other potential heirs, collecting and arranging for payment of debts of the estate, approving or disapproving creditor's claims, making sure estate taxes are calculated, forms filed and tax payments made, and in all ways assisting the attorney for the estate.

your case.

The will maker may request in the will that no bond be required. Your lawyer can inform you of the estate laws in your area, and can help make sure that you’re following the legal requirements for a valid estate plan.

As a contributor to our expansive Law Library, John covered topics like employment, business, real estate, family, and criminal law. An executor, temporary executor or temporary administrator with the will annexed, administrator, administrator with the will annexed, special administrator, receiver of an absentee, conservator, temporary guardian and, unless otherwise expressly provided, a guardian or trustee under a will or appointed by the probate court, including a trustee under a will holding property for public charitable purposes, before entering upon the duties of his trust, shall give bond with sufficient sureties, in such sum as the probate court may order, payable to the judge of said court and his successors, and with condition substantially as follows: First, To make and return to the probate court within three months a true inventory of all the testator's real and personal property which at the time of making such inventory shall have come to his possession or knowledge; Second, To administer according to law and to the will of the testator all personal property of the testator which may come into his possession or into the possession of any person for him, and also the proceeds of any of the real estate of the testator which may be sold or mortgaged by him; Third, To render upon oath a true account of his administration at least once a year until his trust is fulfilled, unless he is excused therefrom in any year by the court, and also to render such account at such other times as the court may order. Property Law, Products LegalMatch Call You Recently. Library, Employment Can't find your category? (c) To be eligible to receive CDLAC allocation, all Applicants must submit written Bond Issuance and Post Issuance Compliance Policies for each State Ceiling Pool they request. That he will make and return to the probate court within such time as it shall order a true inventory of all the personal property of the ward which at the time of making such inventory shall have come to his possession or knowledge, and that he will, whenever required by the probate court, truly account on oath for all the property of the ward which may be received by him as such temporary guardian or conservator, and will deliver it to any person who may be appointed guardian or conservator or may be otherwise lawfully authorized to receive it. &

Law Practice, Attorney a bond guaranteeing that an employer will compensate an employee injured on the job, as mandated by law. Your Bonds were a common legal device. Estate bonds are usually purchased as a surety bond from an agency that deals specifically with those types of transactions. This can complicate the matter and subject the process to various legal issues such as a will challenge. What Protections Exist Against Bad Conservators? First, To make and return to the probate court within three months a true inventory of all the intestate's real and personal property which at the time of making such inventory shall have come to his possession or knowledge; Second, To administer according to law all the personal property of the deceased which may come into his possession or into the possession of any person for him, and also the proceeds of any of the real property of the deceased which may be sold or mortgaged by him; Third, To render upon oath a true account of his administration at least once a year until his trust is fulfilled, unless he is excused therefrom in any year by the court, and also to render such account at such other times as the court orders; Fourth, To pay to such persons as the court orders any balance remaining in his hands upon the settlement of his accounts; Fifth, To deliver his letters of administration into the court if a will of the deceased is thereafter duly proved and allowed.

Get the USLegal Last Will Combo Legacy Package and protect your family today! An employer may choose to post a workers' compensation bond instead of purchasing workers' compensation insurance.

Thanks. Some states require the executor of an estate to post an estate bond when the estate holder dies, as … Some states require the executor of an estate to post an estate bond when the estate holder dies, as part of the distribution process. Surety Bond Definition. With this type of bond, the bondsmen are similarly bound to a sum of money to administer the estate of the deceased in accordance with their wishes (if they made a will) or as law … We've helped more than 4 million clients find the right lawyer – for free. All contents of the lawinsider.com excluding publicly sourced documents are Copyright © 2013-, Bond issuance and post issuance compliance policies, Permitted Acquisition Diligence Information, Specified Acquisition Agreement Representations. John studied Religion at Davidson College, a liberal arts college in North Carolina, and then went on to receive his Juris Doctorate from University of Wisconsin Law School. Most Common Wills, Trusts & Estates Issues: (this may not be the same place you live), Faulty/Defective Products/Services (Auto, Drug), Investments (Annuities, Securities, IPOs), Post Your Case - Get Answers from Multiple

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