Appointing a non-resident as your executor? Here is what you need to know about administrative bonds.

will lawyer estate ottawaActing as an executor (estate trustee) can be a daunting and challenging task in the best of times. The requirement for an administrative or estate bond can add another layer of complexity to an already complicated situation.
An administrative or estate bond may be required in various situations. For example, an executor (estate trustee) or individual applying for a Certificate of Appointment of Estate Trustee (probate) may be required to post a bond where, for example, the deceased did not leave a Will, the executor named in the Will is not a resident of Ontario or the individual applying to the Court was not named in the Will as an executor.

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