
Travelers Waiver of Probate and Agreement of Indemnity Form


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People also ask
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What is a waiver of probate bond in Alberta?
The Waiver of Probate Bond enables the financial institution to re-issue bonds; stocks, etc. to the name of the estate executor so that the estate can be liquidated and distributed amongst the estate heirs.
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What does "without bond" mean in a will?
When an executor is permitted to serve "without bond," it means that the court has waived the requirement for the executor to obtain a bond. This typically occurs when the will specifically states that the executor should serve without bond or when all the beneficiaries agree to waive the bond requirement.
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Do all wills have to go through probate in Alberta?
Probate is only necessary when the transfer of assets to the executor or to the beneficiaries requires the involvement of the Land Title Office or a financial institution. Our Alberta wills and estates lawyers can help you to determine what assets are subject to probate in Alberta.
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What does waiver of a bond mean?
Removes Need for Bond or Legal Insurance: A probate bond waiver eliminates the need to obtain a bond or legal insurance, which would provide financial protection against any claims made while administering the estate.
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What is a release and waiver of liability and indemnity agreement?
This form of a Release Agreement, Indemnity Agreement and Hold Harmless Agreement releases a party from certain specified liabilities. Releases are used to transfer risk from one party to another and protect against the released party or reimburse the released party for damage, injury, or loss.
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How do you avoid probate in Alberta?
During your lifetime, you can create a trust and designate someone to hold assets as a trustee for someone's benefit. By establishing a trust, you give the assets away, and they do not form a part of your estate and avoid Probate. Still, giving property into a trust can limit your and the beneficiary's control over it.
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