Legal Question in Wills and Trusts in Florida
Re: Florida Probate: Why does a judge ask a personnel representative to post a bond, and why would a personnel representative not comply with that order regarding someone's estate? Thank you!
1 Answer from Attorneys
If there is a will, normally the will waives the requirement that a PR post a bond. The rationale behind a bond is that a bond is like an insurance policy. The PR has full access to all the assets of the estate. Most PR's are good, honest people. But, what if a PR stole all the assets of the estate? The bonding company promises to pay back the estate if the PR does certain improper acts that cause a loss to the estate. It is an insurance policy protecting the estate assets. If a PR doesn't comply, either their letters of office will not be issued or they can be revoked, if already issued.