July 2020

Administration Bonds

What is an Administration Bond? An administration bond is personal liability imposed on a prospective estate trustee to protect the interests of the beneficiaries and creditors if the assets are misappropriated. The bond is obtained from a surety (usually an insurance company) and given to the court. The amount of the administration bond that must […]

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Passing of Accounts and Estate Accounting

Passing of Accounts Estate Trustees are required to keep accurate and up-to-date accounts of the estate or trusts they are administering. Obtaining the court’s approval of these accounts is a process known as “passing of accounts”. The court’s approval is not always required, but in certain circumstances a passing of accounts is necessary. These instances

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