Posts in January 17, 2024

Executors of an estate can be asked to post a bond. The value stated on the bond is related to the perceived inventoried value of the estate. Typically the bondsmen (or sureties) need to be of sufficient financial means to cover the value of the bond in case the executors mismanage the estate. If the executors execute their duties as they are supposed to, there is no problem for the bondsmen (or sureties). But if they do not, the court will come after them to cover the cost. Bondsmen (or sureties) for executors should trust the executors to do as instructed. If the executors do, the bondsmen are not out any cash or property. There were four bondsmen for the three executors of the John Ufkes estate in […]