Deceased fathers estate

UPDATED: May 19, 2009

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Deceased fathers estate

If I sign a waiver of further bond, does that mean I wont inherit my share of my fathers estate.

Asked on May 19, 2009 under Estate Planning, California


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 13 years ago | Contributor

Signing a waiver of bond normally only means that you are consenting to the personal representative of the estate being able to be appointed by the Superior Court and continue to serve as Personal Representative without having to use the estate's assets to pay for what is a relatively expensive insurance policy that would protect the estate should the Personal Representative act improperly, such as by stealing estate assets. Waiver of bond does not and should not deprive you of your proper share of the assets, assuming the representative acts properly.

In fact, as the expense of the bond comes out of the estate, it usually means all beneficiaries who get a share of the estate get more as no money is used to buy a bond that diminishes the value of the estate. Of course if the representative acts improperly and loots the estate, and you sue him and win but he has no money to pay any judgment you might obtain, if there was a bond the insurance company is supposed to pay. In nearly all circumstances, and almost 100% of friendly circumstances, lawyers advise prospective beneficiaries to waive bond.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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