WHEN TO USE THE FORM: A bond may be required of a Personal Representative unless all of the heirs, if no Will has been probated, or all of the devisees under a Will which does not provide for relieving the Personal Representative of bond, file with the Court a written waiver of the bond requirement. Nebraska Probate Code § 30-2446.
HOW TO USE THE FORM: This should be used if all heirs and/or devisees are willing to waive a bond, unless the Will waives the bond requirement. A duly appointed Guardian or Conservator may waive on behalf of their ward or protected person the requirement for bond unless the Guardian or Conservator is the Personal Representative. Nebraska Probate Code § 30-2446(1)(b).
WHEN NOT TO USE THE FORM: If the Will expressly waives the bond, requests that there be no bond, or waives the requirement of a surety thereon other than the Personal Representative, a bond shall not be required. If a Personal Representative is a national banking association, a holder of a banking permit under the laws of Nebraska, or a trust company holding a certificate to engage in trust business from the Department of Banking and Finance, no bond shall be required. Nebraska Probate Code § 30-2446(1)(c). If the petition for formal or informal appointment alleges that the probable value of the entire estate will permit a summary procedure under Nebraska Probate Code § 30-24,127 (wherein the value of the estate is less than the homestead and family maintenance allowances, exempt property, costs and expenses of administration, reasonable funeral expenses, and necessary medical hospital expenses of the last illness), a bond shall not be required. Nebraska Probate Code § 30-2446(1)(d).
COMMENTS: In the event this form is used, the Court has no discretion to require a bond unless petitioned by an interested party who presents reasonable proof that the party's interest is in danger of being lost because of the administration of the estate. Nebraska Probate Code § 30-2446(2). In formal and informal proceeding, on application or petition of the Personal Representative or another interested person, the Court may excuse a requirement of bond, increase or reduce the amount of the bond, release sureties, or permit the substitution of another bond with the same or different sureties. Nebraska Probate Code § 30-2447.
