Waiver Of Surety {700-00004}

700-00004 - WAIVER OF SURETY ON ESTATE ADMINISTRATION BOND. This form is used in the Vermont Superior Court, Probate Division, during the administration of a deceased person's estate. This form allows an heir at law—someone who is legally entitled to inherit from the estate—to give their consent for the court to waive the requirement of a surety on the estate administration bond. An estate administration bond is typically required by the court to ensure that the person appointed to manage the estate (the administrator or executor) fulfills their legal duties faithfully and responsibly. A surety is a third party, usually an insurance company, that guarantees the performance of the administrator. If the administrator mishandles the estate, the surety can be held financially liable. By signing this form, the heir at law agrees to waive the requirement for a surety, meaning they trust the proposed administrator to manage the estate without that additional financial guarantee. The court retains the discretion to require a surety regardless of whether all heirs agree to the waiver. www.FormsWorkflow.com