Legal Question in Wills and Trusts in Texas
Security Bond
Died intestate, uncle acting as independent administrator. Now told I have to sign a doc where no bond is needed. Is this a good idea? Stated if not signed it would come out of the estate. Doesn't a bond get refunded? Help..
2 Answers from Attorneys
Re: Security Bond
No bonds are paid by the estate..it is a matter of trust..
Re: Security Bond
If you trust the executor and you think that he's capable of administering the estate responsibly and without embezzling funds or something then I would say waive the bond, i.e. go ahead and sign giving you're ok. Most of the time bond is waived just to make it easier to administer the estate. The job of executor or in your case administrator is often a long, thankless job and if one can make it easier by waiving the bond then go ahead. All that being said, if there is some reason a bond needs to be posted, i.e. uncle has problems handling money or has a history of of being irresponsible, then sure a bond is needed. In general though, it's nice to make it easy for the administrator. Good luck, hope that helps.
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