Maine Personal Representative Without Bond Mean
Description
How to fill out Maine Personal Representative's Deed Of Distribution?
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FAQ
The phrase 'without bond' in a will means that the personal representative does not have to secure a bond to manage the estate. This could happen if the beneficiaries trust the representative or agree that a bond is unnecessary. For those looking into their options as a Maine personal representative without bond mean, clarifying this aspect can simplify the probate process.
Informal probate of a will that has been previously probated elsewhere may be granted at any time upon written application by any interested person, together with deposit of an authenticated copy of the will and of the statement probating it from the office of court where it was first probated.
If the person died without a will, you can still proceed with informal probate if there is no dispute regarding the identity of the heirs. Formal probate means that the estate must be opened by filing a petition for a hearing before the probate court and can mean continued involvement of the court.
A personal representative appointed by a court of the decedent's domicile has priority over all other persons except when the decedent's will nominates different persons to be personal representative in this State and in the state of domicile.
Listed below are some of the non-probate assets available in Maine. Any property in a living trust. Life insurance policies. 401(k)s, IRAs, other retirement accounts. Securities in transfer-on-death accounts. Pay-on-death bank accounts. Joint tenancy real property.
Petition the Court to Appoint You as Personal Representative: In Maine, petitions for the appointment of a Personal Representative and to prove the Will may be filed as early as 120 hours after the death of the decedent.