Q: What is a waiver of bond? The executor of my mother in laws estate wants the beneficiaries to sign it.
A:
Disclaimer: The materials provided below are informational and should not be relied upon as legal advice.
Generally, California law requires each personal representative (such as an executor of a will) to post a bond with the probate court in order to ensure the personal representative faithfully executes her/his duties. As an exception, Section 8481 of the California Probate Code provides that a bond is not required when either the will waives bond requirement, or all beneficiaries waive bond requirement in writing. You should consult your own attorney to determine whether you should sign the waiver form.
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