[WSBAPT] Alternatives to bond

Fri Aug 21 12:02:00 PDT 2020

I had a PR who could not obtain a bond and the court allowed her to deposit $5000 into my trust account in lieu of bond.  I held the monies until the estate closed and it was intervention powers so we had hearing and final report.
If the PR can't come up with $5,000, maybe a relative or two can do that for the PR.  I hope you have received a retainer to do the estate work as I did.  I also protected the $5k funds from release by court order to pay my balance of fees/costs and remainder to PR.  It was a Snohomish probate.

Dalynne Singleton
Gourley Law Group
Snohomish Escrow
The Exchange Connection
1002 10th Street / PO Box 1091
Snohomish, WA 98291
360.568.5065
360.568.8092  fax
dalynne at glgmail.com<mailto:dalynne at glgmail.com>
Website:  www.glglawgroup.com

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Eric Nelsen
Sent: Friday, August 21, 2020 11:55 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Alternatives to bond

I have a client who isn't bondable but who is realistically the only family member who can serve as PR. Assets aren't sufficient to justify paying a professional fiduciary to act as PR. So I'm trying to figure out a reasonable alternative security that the court might accept. The bond would have been for about $40,000 or less.

Many years ago, when I was a paralegal, I recall our office having someone post a cash bond. That's not viable here. But what about pledging real estate? My client has family members who have houses, and one of them could perhaps agree to a lien? It would be subordinate to existing mortgage though. Does anyone have a form for a pledge of real estate in lieu of bond?

Any other creative alternatives out there?

Sincerely,

Eric

Eric C. Nelsen
Sayre Law Offices, PLLC
1417 31st Ave South
Seattle WA 98144-3909
206-625-0092
eric at sayrelawoffices.com<mailto:eric at sayrelawoffices.com>

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