Legal Question in Wills and Trusts in New York

Re: Will

It isn't always. But often a court will require a bond as a check to make sure that the executor does his obligations with respect to probate.

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Re: Will

A bond is a security instrument to protect beneficiaries from an Executor's misappropriation of the estate funds. It is not always required, and may be dispensed with in most cases.

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Re: Will

A surety bond is similar to an insurance policy. Shoukd the estate representative lose money of the estate, the bond will pay claims, if the court directs.