Deceased fathers estate

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Deceased fathers estate

If I sign a waiver of further bond, does that mean I wont inherit my share of my fathers estate.

Asked on May 19, 2009 under Estate Planning, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Signing a waiver of bond normally only means that you are consenting to the personal representative of the estate being able to be appointed by the Superior Court and continue to serve as Personal Representative without having to use the estate's assets to pay for what is a relatively expensive insurance policy that would protect the estate should the Personal Representative act improperly, such as by stealing estate assets. Waiver of bond does not and should not deprive you of your proper share of the assets, assuming the representative acts properly.

In fact, as the expense of the bond comes out of the estate, it usually means all beneficiaries who get a share of the estate get more as no money is used to buy a bond that diminishes the value of the estate. Of course if the representative acts improperly and loots the estate, and you sue him and win but he has no money to pay any judgment you might obtain, if there was a bond the insurance company is supposed to pay. In nearly all circumstances, and almost 100% of friendly circumstances, lawyers advise prospective beneficiaries to waive bond.


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