Legal Question in Wills and Trusts in New Jersey
EstateRefund/Release Bonds
Does the executor of the estate also have to sign a refund/release bond
Asked on 2/07/09, 9:41 pm
2 Answers from Attorneys
Ronald Cappuccio
Ronald J. Cappuccio, J.D., LL.M.(Tax)
Re: EstateRefund/Release Bonds
If the Executor of the Estate is also a beneficiary, a Refunding Bond and Release is normally signed and filed with the County Surrogate. This protects the estate in case the Executor dies or resigns and the estate needs to collect from the beneficiaries.
I hope this clears up the issue!
Ron Cappuccio
http://www.SaveYourEstate.com
Answered on 2/08/09, 11:48 am
Walter LeVine
Walter D. LeVine, Esq.
Re: EstateRefund/Release Bonds
Ron is correct. Executors do not sign RB&R, only beneficiaries do. Of course, if the Executor is also a beneficiary, he/she must also sign a form. These forms are required to be filed with the Surrogate to formally close the estate.
Answered on 2/08/09, 1:10 pm
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