700-00004 Guidance: Waiver of Surety on Estate Administration Bond (Vermont)

In the probate process, the Waiver of Surety on Estate Administration Bond form is typically required when an individual is appointed to administer a decedent's estate. This waiver allows the administrator to proceed without obtaining a surety bond, which can reduce the administrative burden and costs to administer the estate. It’s often requested when all the heirs agree that the bond is unnecessary, typically in cases involving small estates or when the heirs have a high level of trust in the administrator. - You might need this form when the probate court requires an administrator to post a bond, but the heirs believe a bond is unnecessary. - Typically completed after the submission of the "Petition to Open an Estate," or following the "Notice to Heirs." - When the heirs seek to simplify the estate administration, if they agree on waiving the bond. - All parties involved must agree before filing this form or it won't be accepted by the court, and a bond will be required. Submitting the Waiver of Surety on Estate Administration Bond usually follows initial probate filings, like the "Letter of Administration" application. It is usually used in cases where all heirs consent. This form operates under the premise that heirs trust the administrator, and hence, a bond isn't deemed necessary to safeguard the estate assets.