Legal Question in Wills and Trusts in California
California instestate succession probate bond ?
Is there a simple way to avoid/waive the cost of a bond in a CA intestate succession probate when there is a minor child inheriting a portion of a relatively small probate estate ?
2 Answers from Attorneys
Re: California instestate succession probate bond ?
Usually, limited IAEA or placing the funds in a blocked account. A bond is usually required to cover the entire probate estate, not just for a particular beneficiary. This protects the estate from any malfeasance by the personal representative.
Re: California instestate succession probate bond ?
If the estate is in Probate, then the value must be over $100,000. Is the one you describe less than this amount? If so, then a Probate was an incorrect procedure.
If all of the beneficiaries agree, then you may be able to persuade the Judge to waive the bond.
If you would like to discuss this matter further in a more private forum, please feel free to contact me directly at the email address provided by LawGuru or through our firm�s website located at PasadenaEstatePlanning.com
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