Legal Question in Wills and Trusts in New York
bonds involved in estate letters of administration
My mother passed away without a will. My father is not eligible to administer her estate because he is not a US citizen. I have been nominated to adminster her estate. After having submitted the proper applications to the surrogates court, it was returned instructing me to send in an affidavit to waive the bond.
What is the bond and why am I to waive the bond?
Asked on 9/08/99, 12:17 pm
1 Answer from Attorneys
Daniel Clement
Law Offices of Daniel Clement
Re: bonds involved in estate letters of administration
A bond is like an insurance policy that indemnifies the estate in case you steal or commit some other wrong. It can be expensive and therefore, you want to waive it.
Daniel Clement
Answered on 9/09/99, 1:55 pm
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