The Pennsylvania Waiver of Fiduciary Bond is a form issued by the state of Pennsylvania to waive the requirement of an individual or business to obtain a fiduciary bond, also known as a surety bond. A fiduciary bond is a type of surety bond that guarantees the performance of a fiduciary duty, such as the faithful management of assets held in trust. This type of bond ensures that a fiduciary will act in accordance with their duties and responsibilities, and that any losses which may arise due to their negligence or wrongful acts will be covered by the surety company that issued the bond. There are two types of Pennsylvania Waiver of Fiduciary Bond: the Pennsylvania Waiver of Fiduciary Bond for Personal Representatives and the Pennsylvania Waiver of Fiduciary Bond for Trustees. The Pennsylvania Waiver of Fiduciary Bond for Personal Representatives is issued to waive the requirement for an individual to obtain a surety bond when they are appointed as a personal representative of someone who has passed away. The Pennsylvania Waiver of Fiduciary Bond for Trustees is issued to waive the requirement for trustees of a trust to obtain a fiduciary bond. Both waivers are signed by the applicable court and are legally binding documents.
Pennsylvania Waiver of Fiduciary Bond
Description
How to fill out Pennsylvania Waiver Of Fiduciary Bond?
US Legal Forms is the most straightforward and profitable way to locate appropriate legal templates. It’s the most extensive web-based library of business and individual legal paperwork drafted and verified by lawyers. Here, you can find printable and fillable templates that comply with national and local regulations - just like your Pennsylvania Waiver of Fiduciary Bond.
Obtaining your template requires just a few simple steps. Users that already have an account with a valid subscription only need to log in to the web service and download the document on their device. Later, they can find it in their profile in the My Forms tab.
And here’s how you can get a properly drafted Pennsylvania Waiver of Fiduciary Bond if you are using US Legal Forms for the first time:
- Look at the form description or preview the document to make sure you’ve found the one meeting your needs, or find another one utilizing the search tab above.
- Click Buy now when you’re certain about its compatibility with all the requirements, and choose the subscription plan you like most.
- Register for an account with our service, log in, and pay for your subscription using PayPal or you credit card.
- Decide on the preferred file format for your Pennsylvania Waiver of Fiduciary Bond and download it on your device with the appropriate button.
Once you save a template, you can reaccess it anytime - just find it in your profile, re-download it for printing and manual completion or import it to an online editor to fill it out and sign more effectively.
Take advantage of US Legal Forms, your trustworthy assistant in obtaining the corresponding formal paperwork. Try it out!
Form popularity
FAQ
Pennsylvania notary bonds cost $50 for the state-required 4-year term. You can also add errors and omissions insurance coverage to ensure you aren't held liable for notary errors.
A will generally only needs to be filed with the county if there are probate assets; i.e. money or property that are in the deceased person's name alone, with no joint owners or named beneficiaries.
Probate Bonds for Allegheny County, Pennsylvania The county will require a probate bond in the amount of 125% of the value of the estate. The court will also determine if the value of any real estate must be included. To open an estate with the court, the minimum bond requirement is $8,000.
The bond premiums are normally calculated at one-half of one percent (0.5%), which is equal to $500 for every $100,000 of estate assets....How Much does a Probate Bond Cost in Pennsylvania? Bond Amount NeededFee<$20,000$100-$150$20,000-30,000$150-$200$30,000-50,000$200-$300$50,000+0.5-0.8%
Notary surety bonds are contracts wherein the surety (an insurance company authorized to do business in Pennsylvania) has agreed to pay losses, up to $10,000, caused by the failure of the notary public to faithfully perform the duties and responsibilities of a notary public.
Pennsylvania offers a simplified probate process for small estates, which state law defines as estates that contain no more than $50,000 in assets.