Legal Question in Wills and Trusts in New York
What does this line mean in a will: I direct that no bond or undertaking shall be required of any of my Eexecutors or Trustees above named for the faithful performance of their duties hereunder.
Asked on 9/28/10, 2:36 pm
1 Answer from Attorneys
Arnold Nager
Arnold H. Nager, Esquire
It means the Executor/Trustees don't have to post a bond (paid for by the estate) to insure they don't make off with the assets.
Answered on 10/03/10, 5:36 pm
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