[WSBAPT] Court waiving bond? --- Bond Denied?

[Richard Wills]

I'd like to mention several alternatives available if the Court orders
Bond for a PR who is not bondable --- needless to say, I've had my share
of them.

1.  Cash Bond:  Depositing cash in the amount of the Bond into the Court
Registry.  This won't work for many unbondable clients, but amazingly,
I've had a number of them who can scrape up $10,000 from family members.Â
The $10K stays in the Court until the probate closes, & then you have to
move the Court for an Order releasing the cash.

2.  Limited PR:  I've never seen this done elsewhere; it was my own
invention.  I move the Court to appoint my client as the General PR to
handle everything except the money & me as a Limited PR to handle only the
money, for example, D's & now the estate's bank account, & with an order
that all proceeds of estate asset sales are to be deposited into the Court
Registry & with me to obtain the Bond, typically, $10K although
occasionally more.  I get the Bond & become the estate's banker.  I've
done this several times without problems from either the Court, the
bonding company, or the client --- & it keeps my client running the show
except for $$$ issues.

3.  Lastly, although I don't recall its name, a CA client of mine found a
bonding company in LA that I've repeatedly used when the local bonding
companies I used (ie, Spino & Griffin Maclean) decline, & this bonding
company appears to be willing to bond just about anybody --- I can't
recall its ever turning down any of my more marginal clients (although
their typical $10K Bond costs more than the $100 charged by Spino etc.).



On 8/18/2014 2:02 PM, Bryce Dille wrote:


I concur with Rebecca’s comments on bondability. I recently had an
estate where the crt set the bond at $300000 where the only asset was a
piece of real property but could not get a bond approval from any bonding
co.( I tried them all including several suggested by members of this list
serve] for the PR who just had an average credit score but didn’t have
assets in excess of the amount of the bond so we had to appoint another
atty who agreed to be PR.

 

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From: wsbapt-owner at lists.wsbarppt.com
[mailto:wsbapt-owner at lists.wsbarppt.com] On Behalf Of Ashley Raymond
Sent: Monday, August 18, 2014 1:36 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] [SPAM] Court waiving bond?

 

I am starting my first intestate probate and was wondering how difficult
it is to get bond waived? I will be getting waivers from all heirs. The
estate has assets close to $300K with known debts at about $5K. This will
be in King County.



Ashley Raymond, J.D., LL.M.

Ashley Raymond, PLLC

651 Strander Blvd., Ste. 215

Tukwila, WA 98188

Ph: 425-496-7495 | Fax: 425-523-3984

ashley at ashleyraymondlaw.com

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