The personal representative bond is required by the probate court to be given by the personal representative named in the will. The bond can be waived if the will states that the person appointed can serve without bond. The bond guarantees that the personal representative will handle and pay all claims and outstanding debts, pay funeral expenses, close out all various items such as discontinuing utilities and, credit cards, notification to social security, payment and submittal of income and estates taxes, and distribute the remaining property in accordance with the instructions outlined in the deceased’s will. Once the final accounting has been filed and approved by the court, the bond can then be cancelled. Generally it is strongly recommended that the personal representative hire a probate attorney to assist and provide guidance through this process.
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