What is a Bond? continued

Welcome back. We are here to talk more about bonds and what they are. Though you may be confused about a bond and whether or not you need one, don't worry. Contact our estate planning attorney in Raleigh NC for help. We can assist you with all estate planning aspects. There's no need to work on this alone.

There are two types of bonds. One is called a property bond. The other is called a surety bond. Here you'll find what each type are used for:

  • Property bonds are more commonly used in criminal matters and may not be allowed by many Clerks of Court.
  • A surety bond is most commonly used for estate and guardianship matters. If the estate matter remains open for more than one year, the surety company issuing the bond may require the premium to be paid once per year until the estate administration can be completed.

The Clerk of Court has broad powers in estate matters. The Clerk, at his or her discretion, may require a bond to be posted even if the bond requirement is waived by the heirs or even if there is a will which waives the bond.

If you have any questions about bonds or which type you need to feel free to contact our estate planning attorney in Raleigh NC today for help. We are here for you. Also, be sure to check back with our previous blog for more information on what a bond is.

If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our estate planning attorney in Raleigh NC is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our office.

As always, feel free to contact us at our office to schedule a consultation if you are looking for a lawyer to represent you in other legal matters. We are here to assist you with small business needs, trademarking, copyrighting and other legal issues.

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