Decedents' estates: personal representative: bond.

(1) Existing law requires every person appointed as a personal representative of a decedent's estate to give a bond conditioned on the faithful execution of the duties of the office. Existing law authorizes a waiver of this bond in certain circumstances and also authorizes the court to fix the amount of the bond not to exceed a specified sum. The bill would, with respect to the above-described bond, require a court to make a good cause determination that the beneficiaries and creditors of the estate will not suffer harm as a result of the waiver of a bond or reduction of the bond amount before authorizing this waiver or reduction. This bill would also require a person appointed as a personal representative to give a cost bond approved by the court to be used to satisfy the remainder of an amount awarded to a contestant of an account, as specified. The bill would require, when a personal representative has actual or constructive knowledge of facts indicating that the amount of a bond given is less than the amount fixed, the personal representative and, if any, the attorney, to make an ex parte application for an order to increase the bond, as specified. The bill would also require, if an additional amount is required for the bond, an order approving an account to be conditioned on the filing of the additional bond amount. (2) The Independent Administration of Estates Act governs the independent administration of a decedent's estate and requires, if a personal representative is otherwise required to file a bond, a court, in its discretion, to fix the amount of this bond. This bill would remove the discretion of the court to fix the bond amount.