I have been named as executor for my parent’s will. For many years I have been his full time caregiver. I have few assets and basically no credit history. He left a house and a summer cottage. I am thinking it would be much better for my brother who has an excellent credit history and assets to become executor. I doubt I could be bonded as executor. Any advice/thoughts greatly appreciated.
ANSWER BY MARGARET CROSS-BELIVEAU:
In Massachusetts and in several other states (but not all), the bond requirement can be waived in the will and the court will honor the request. If the assets are located in a state which will not waive the bond, you have to option of declining to serve as the personal representative. The person who is nominated after you in the will may then serve, or in no one is nominated, the next of kin (your brother) may petition the court to be appointed.
Legal Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on since each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship. A lawyer experienced in the subject area and licensed to practice in the jurisdiction should be consulted for legal advice.
Beliveau Law Group: Massachusetts | Florida | New Hampshire
The estate administration attorneys at the Beliveau Law Group provide legal services for probate, estate administration, and trust administration. The law firm has offices and attorneys in Naples, Florida; Waltham, Massachusetts; and Salem, New Hampshire.