what does it mean to appoint an executer ‘without bond’

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what does it mean to appoint an executer ‘without bond’

what does without bond mean

Asked on March 1, 2018 under Estate Planning, Tennessee

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

Are you probating an estate or writing a Will?  So the laws in states vary but generally speaking state Probate law requires that the Fiduciary of an estate post a bond the the value of the estate when they are appointed.  This is to make sure that if the Fiduciary does something improper with estate assets in some way the beneficiaries can go against the bond to collect.   "Without bond" is usually what a Testator puts in a Will so that the proposed executor/executrix does NOT have to put up funds for the bind (which is very expensive).  Good luck.


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