Section 3.18 Application to Deposit Assets or Securities and to Reduce Bond

• Library: Estate Administration 2014 Supp

B. (§3.18) Application to Deposit Assets or Securities and to Reduce Bond

Some courts will not grant a dollar-for-dollar reduction in the bond when cash or securities are placed in restricted accounts. This apparently arises from banks having released funds to fiduciaries without court order in spite of the restrictions. Although the depository has liability under § 473.207, RSMo 2000, for such an unauthorized release, some courts prefer to avoid the problem rather than have litigation over an unauthorized...