A fiduciary is nominated by the will or is the lawful heir of the deceased. About to become the personal representative, they are told by the clerk or by your estate attorney that to become the personal representative, they need to obtain a bond and file it with the court. They fill out the bond application, send it to the bonding company, and it comes back denied.
Why did the bond application get denied?
A bond requirement is like mandatory insurance for the personal representative. Insurance applications depend on credit, the previous conduct of the person applying, and the circumstances surrounding the application. If your credit was not up to the bonding company’s standards, they will deny the application. If the bonding company, after reviewing the documents, sees that the estate has a likelihood of theft by the proposed personal representative, they will deny it. If they find something out about the personal representative that makes them concerned, they will deny it as well. Learn what happens after a Miami bond application is denied. If you need further help of a Miami estate attorney, call The Law Offices of Albert Gurevich at (786) 522-1411.