How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard, Attorney
Category: Estate Law
Satisfied Customers: 55314
Experience:  29 years of experience practicing law, including tax and estate planning.
Type Your Estate Law Question Here...
Richard is online now
A new question is answered every 9 seconds

I live in Nashville and my brother lives in Memphis. Our

Customer Question

I live in Nashville and my brother lives in Memphis. Our father died and my brother has been handling the estate matters. My brother has requested a "Waiver of Born" from to be signed by me and my sister in Nashville. What does this mean? Are we giving my brother total control of the decision making over the estate in Memphis? Should all three names be on the Waiver of Bond?
Concerned Sister
Submitted: 1 year ago.
Category: Estate Law
Expert:  Richard replied 1 year ago.

Good morning. My name is ***** ***** I look forward to helping you.

Typically, when an executor is appointed, a bond is required so that if the executor were to steal or misappropriate funds, the beneficiaries could pursue the bond company to be made up. The bond is simply an insurance policy to protect you from the executor's misdeeds. It doesn't absolve the executor from his fiduciary duty, its just that many time if the executor steals from the estate, he doesn't have any of the money left by the time you discover it. As executor, he still has control with or without the bond. It's just that this gives you a back up in case he's not honest. I typically don't recommend you waive the bond if you have any doubt that you might be a risk for getting shortchanged in the administration of the estate.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). I thank you in advance for taking the time to provide me a positive rating!

Related Estate Law Questions