Section 3.17 General Requirements

• Library: Estate Administration 2014 Supp

A. (§3.17) General Requirements

Except as provided in § 473.160, RSMo 2000, every personal representative, before beginning the duties of the office, must execute and file a bond that is approved by the judge or the clerk and procured at the expense of the estate with sufficient security for the protection of interested parties. Section 473.157.1, RSMo 2000. The condition of the bond is that the personal representative shall faithfully administer the estate, account for and pay and deliver all money and property of the estate, and perform all acts required by law or court order. Section 473.157.2.

No bond is required:

if it is waived in the will, unless the court determines, in its discretion, that a bond should be posted;

as to assets that are deposited with a depository upon terms prescribed by the court, which terms shall include that the assets may not be withdrawn except upon court order;

if the personal representative is a corporation holding a certificate from the director of finance in compliance with § 362.590, RSMo 2000; or

if the court, for good cause, finds that a bond is not required for the protection of interested parties.

Section 473.160.

Section 473.157.1 provides that bond...