Q: I have been petitioned to waive bond of personal representative. What is this?
The estate is located in Florida
A: A bond is an undertaking by a surety to indemnify the estate for losses caused by the bonded person (personal representative) stealing from the estate. Sadly, that does sometimes happen. If you totally trust the personal representative then you would normally agree to waive the bond. If you don’t trust the person then don’t waive bond. The bond premium makes the cost of probate more expensive, but it’s worth it.
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