Posting Bond For Estate In Miami-Dade
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To protect the estate from potential losses due to negligence or dishonest actions by the executor, a probate bond is often required. The bond acts as a form of insurance issued by a surety company, which serves as a third-party overseer.
A survivor is named on the bond(s) If you are the named co-owner or beneficiary who inherits the bond, you have different options for paper EE or I bonds and paper HH bonds. If only one person is named on the bond and that person has died, the bond belongs to that person's estate.
To begin posting bail online, just call or text Bail Bonds Now any time to receive an access code at (786)-500-9999. We service all cities throughout Miami-Dade County, including: Aventura.
Under the Florida Probate Code, any individual serving as a personal representative must file a bond unless the an interested party petitions the probate court requesting a waiver of the bond requirement, or the court on its own motion decides to waive the bond requirements.
Executor bonds hold the executor of the estate accountable should the executor not fulfill their obligations. The bond protects against errors (even if they happen to be accidental), fraud, theft, or misconduct, as well as misrepresentation on the part of the executor.
The estate settlement process can last for several months up to several years, but 12–24 months is the typical timeframe for estate bonds. A fiduciary must be formally released of their duties by the court before the surety company can cancel the bond policy.
In FL, estates worth $75,000 or more, where the decedent died within the last two years, must go through formal probate proceedings, but there's a lot that goes into this calculation. At Vollrath Law, we've guided countless grieving clients through this territory, equipping them to make informed choices amid grief.
In a formal estate administration, it typically takes around 4-6 weeks to have the personal representative appointed. The estate generally remains open for around 1 year, however this will vary depending on what the personal representative needs to accomplish during the estate administration.
ALTHOUGH YOU ARE NOT REQUIRED TO HAVE AN ATTORNEY FOR CERTAIN PROBATE PROCEEDINGS, ONLY AN ATTORNEY CAN GIVE LEGAL ADVICE. IF YOU CHOOSE TO PROCEED WITHOUT AN ATTORNEY, AT ANY TIME IN YOUR CASE YOU MAY OPT TO HIRE ONE.
As a result, you will begin to see the case status Post-Judgement Inactive (PJREPINACT) or Post-Judgement Active (PJREPACT) appear when viewing cases through the Clerk of Court Online Docket or the Florida Courts E-filing Portal.
