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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 17460
Experience:  B.A.; M.B.A.; J.D.
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Probate court........why does a small estate needs a $50,000

Customer Question

probate court........why does a small estate needs a $50,000 bond?
JA: Since laws vary from place to place, what state is this in?
Customer: Maryland
JA: Has any paperwork been filed?
Customer: yes
JA: Anything else you want the lawyer to know before I connect you?
Customer: A bond of personal representative was done.
Submitted: 20 days ago.
Category: Real Estate Law
Expert:  Phillips Esq. replied 20 days ago.

Hello: This isCustomer Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

Expert:  Phillips Esq. replied 20 days ago.

Personal Representatives of the Estate must post bond if they are not financial institutions. This is the current law to protect the estate for mismanagement and to ensure that the estate would be compensated in case of the mismanagement.

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