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David Kennett
David Kennett, Attorney
Category: Estate Law
Satisfied Customers: 27689
Experience:  25 years practicing attorney
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I am am a widow and mother of two children. my husband died

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I am am a widow and mother of two children. my husband died five years ago, and left a trust in which all three of us are beneficiaries. I was trustee and signed it over to another person who is not named in the trust document. The judge ordered that the substitute trustee only be bonded for five years. After five years it is up to me if he were to be re-elected. I am instead trying to reinstate myself. No one is contesting my decision, but I am afraid that the judge will order me to have to be bonded as trustee because when the trust came into effect we were in VA. I since moved to PA. My concern is that if a judge orders that I be bonded, will I qualify? I have no criminal history or bad credit, but I am living off the trust income and social security. I am not employed. Can someone who is not employed be eligible to be bonded?
DearCustomer- I know of no reason why you cannot be bonded. A bond is simply an insurance policy and you can get insurance if you are not employed. Also, unless the trust requires that you be bonded it is unlikely that the court would force you to purchase a bond since all the beneficiaries are your children and you. If no bond was required in the beginning then it would make no sense that a bond would be required now unless there are some unusual circumstances of which I am unaware. In any event, a bond can be purchased whether you are employed or not so I see no problem in you being the trustee.
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