Waiver of Personal Representative???s Bond Updated October Form

If you are eligible to receive part of an estate (the property of a deceased person), tell the court that you want to waive (give up) the requirement that the estate's personal representative (the person named as executor in the deceased person's will or the person appointed by the court to manage the estate of a ...

The bond ensures that the estate's beneficiaries and creditors will receive compensation for financial harm if the personal representative fails to abide by the regulations outlined in South Carolina Code 62-3-606.

A probate bond is a special guarantee or you can say it is extra protection that is required by North Carolina state courts to ensure that the executor or administrator of an estate carries out their responsibilities responsibly and truthfully.

In order to waive the bond, a petition signed by the heirs or beneficiaries should be filed in the court. Once the waiver is signed it means that there will be no bond to go against if the personal representative does not properly administer the estate and distribute the assets to the heirs.

Bond waiver (noun): Relieves the obligation of having the post a bond. Normally a bond is required as insurance against fraud from an executor or trustee, and ensures beneficiaries will receive their money if something goes wrong.

If you are eligible to receive part of an estate (the property of a deceased person), tell the court that you want to waive (give up) the requirement that the estate's personal representative (the person named as executor in the deceased person's will or the person appointed by the court to manage the estate of a ...

Bond waiver (noun): Relieves the obligation of having the post a bond. Normally a bond is required as insurance against fraud from an executor or trustee, and ensures beneficiaries will receive their money if something goes wrong.

The Petition to Waive Bond Should the decedent have a will, it will usually request a waiver of the bond. If there was no will, the person must file a “Petition to Waive Bond.” The petitioner must accompany this by waivers, consents, and joinders signed by all beneficiaries. The judge may not always grant the request.