[WSBAPT] Alternatives to bond

[Sarah J. Dion]

Hi Eric-

I have a probate in which we offered a blocking scheme as an alternative to bond. PGAL wanted bond and my client, the PR, did not want to have to post it. The Court was happy to sidestep the fight over bond in favor of this plan. We blocked cash accounts except for one, with a certain amount of $ in it for administration expenses. And the bank followed the court order, easy peasy.

Sarah Jael Dion
skellenger bender
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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


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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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