Legal Question in Wills and Trusts in Georgia

Who are you and why is bond needed? Can you ask the beneficiaries for a waiver of bond? What probate assets are there and what is their value? How many heirs?

If waiver is sought,

OCGA � 53-6-50. Persons required to give

(c) A person petitioning to qualify as a personal representative of an intestate estate may be relieved from the requirement for giving bond by the unanimous consent of the heirs of the estate. With respect to any heir who is not sui juris, consent may be given by the guardian of the individual. The personal representative of a deceased heir is authorized to consent for that heir. In no case may consent on behalf of an heir who is not sui juris be effective if the person consenting is the person petitioning to serve as personal representative.

If bond is sought, then it has to comply with this:

OCGA, � 53-6-51. Requisites

(c) The bond shall be in a sum equal to double the value of the estate to be administered; provided, however, that the bond shall be in an amount equal to the value of the estate if secured by a licensed commercial surety authorized to transact business in this state. The value of the estate for purposes of the bond shall be determined without regard to the value of any real property or improvements thereon held by the personal representative or temporary administrator as fiduciary but, upon the conversion of the real property into personalty, a bond shall be given based upon the value of the estate, including the value of the personalty into which the real property was converted.

The statutes do not discuss a timeframe. A reasonable time. Did you ask the clerk? Each county often has their own unwritten rules so ask. 10, 20 or 30 days should be a reasonable time. Really, there are lots of bond companies although the one selected should be authorized to do business in GA. Try asking the clerk of probate court who they would recommend or ask to see a file in some other case where bond was given and note the name of the company and apply to that company. The companies out there give answers fairly quickly.

You should probably get a probate lawyer to assist you with the administration of the estate.