Estate planning is a gift to the people you leave behind. This is another example of how doing a will can simply an already difficult process for loved ones.
Making sense of illness, death and taxes through the eyes of Attorney and Author, Melinda Gustafson Gervasi
Thursday, March 10, 2011
Personal Representatives, Dying Without a Will, and Bonds
People often ask me, why should I bother doing a will, I don't have a complicated life? One reason is that if you die without a will, the person who steps forward to act as the personal representative may be required by the probate court to take out a signature bond before the court will appoint them. In many cases this means the PR is bonded for themselves; they are an heir. If a will were done this hassle could be eliminate; a will can say no bond is required if a nominated PR acts.
Labels:
Personal Representative,
Wills
Melinda Gustafson Gervasi is a Madison attorney and author whose current practice focuses on estate planning and probate. She is committed to increasing the public’s understanding of estate planning and probate issues. In 2013 she released her first book, Middle Class Philanthropist where she illustrates how anyone can leave a legacy. Gustafson Gervasi Law Office, LLC, 5555 Odana Rd., Suite 205, Madison, WI 53719
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