Under what condition is a bond not required for a personal representative?

A bond is a financial assurance that a personal representative must typically obtain to protect the interests of the estate and its beneficiaries. In many cases, this requirement can be waived based on specific conditions.

When a will expressly waives the bond, it indicates the deceased individual's intention that the personal representative should not have to procure a bond. This express provision in the will represents a clear directive from the decedent, reflecting their trust in the chosen personal representative to manage the estate appropriately without the additional financial safeguard of a bond. This direct guidance is a strong legal basis for bypassing the bond requirement.

The other conditions, while they may involve the bond requirement in some manner, do not hold the same legal weight as a directive from the will itself. An agreement from all heirs, while it may be persuasive, does not carry the same legal authority as an express provision in the will. Similarly, the estate's value or familial relationships may influence the requirement but do not supersede the decedent's wishes as clearly outlined in their will. The explicit content of the will thus stands as the primary criterion for waiving the bond requirement.