FULL NAME OF FORM: Statement of Value and Income for Purposes of Bond
WHEN TO USE THE FORM: In an informal proceeding, if bond is required and the provisions of the Will do not specify the amount, unless stated in the application, the person qualifying files a statement under oath with the Registrar indicating a best estimate of the value of the personal estate of the Decedent and of the income expected from the personal and real estate during the next year. A bond is then filed with the Registrar in an amount not less than the estimate of the value of said assets and next year's income. Nebraska Probate Code § 30-2447.
COMMENTS: In an informal proceeding, the Personal Representative sets the amount of the bond, rather than the Registrar. Although the statutory requirement relates to an informal proceeding, this form may be quite helpful in assisting the Court in establishing the amount of the bond in a formal proceeding. Court Rule 39 requires that any time there is a "subsequent material increase in the value of the assets or an increase is anticipated," the judge should be promptly informed of such fact.
