Legal Question in Wills and Trusts in New Jersey
Is it necessary to sign a Refunding Bond and Release (RBR) document that includes all or in part the same award as in a court order resulting from a contested Will? Should the Order be executed if there are exceptions to the RBR that must be answered?
2 Answers from Attorneys
A Refunding Bond and Release is signed by the Beneficiaries upon distributions from the estate. If the Will (or the estate) is contested, your attorney will negotiate exceptions to the Refunding Bond. Nevertheless, the Bond will eventually be needed to close the estate.
I hope this helps!
Ron Cappuccio
http://www.SaveYourEstate.com
I agree that the RB&R is required to eventually close out the estate with the Surrogate. If there is any difference between the Court Order and the RB&R, the latter should be corrected to comply with the terms of the Order.
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