Q: Hello In Maryland does the Bonding Agency require that an attorney be listed? If so can the attorney be out of state
In the state of Maryland, The Office of Wills requires the designated Personal Representative to be bonded.
Q: Do all Bonding Agencies require that an attorney be listed on the bonding application or is this a requirement per respective Bonding Agency .
Q: If attorney is required to secure a surety bond for the designated Personal Representative, can the listed attorney be from out of state?
Thank you
A:
1) Most of the time bond companies (at least those issuing fiduciary bonds in Maryland) consider a Personal Representative who is represented by an attorney to be a lower risk. That is because the bonding company expects the attorney to already know the rules and to handle the estate in accordance with the law. Some bonding companies may not issue a bond to a person who is trying to navigate without legal counsel, or they may require more underwriting.
2) An out-of-state attorney who is not licensed in Maryland will not be able to represent the estate. As a result, the attorney listed for a Maryland estate must be licensed to practice law in this state.
Every attorney sets their own fee, but you may find legal representation more feasible than you realize. For instance, my firm regularly handles regular estates for less than the statutory commission fee and does not get paid until the estate settles. Even for small estates, a consultation may help the PR understand whether there are options to posting full bond. You are encouraged to reach out to an attorney of your choosing to see if the Personal Representative would be better served by engaging counsel.
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