Ind. Elkhart Cnty. Local Rule LR20-PR00-603

603.1. General Statement

With respect to an estate, a guardianship or any other proceeding which involves the appointment of a

fiduciary, the Court may in its discretion set such bond as is deemed adequate to protect the interests of

the interested parties.

603.2. Bond Waived by Will

Although the terms of a will may express the testator’s intention that no bond be required, the Court may

set a bond adequate to protect creditors, tax authorities, and devisees.

603.3. Heir or Legatee Fiduciary

Where the fiduciary is an heir or legatee of the estate, the bond may be reduced by such fiduciary’s share

of the estate, or the value of real estate, or other assets that cannot be transferred or accessed without court

approval or order. The Court shall have the right to review the amount of bond if the Court should grant

access to such property or asset.

603.4. Unsupervised Estate

In an unsupervised estate, bond will be required unless the personal representative is the sole beneficiary

or unless otherwise ordered by the court. The Court may waive bond or set bond in an amount to be

determined in the discretion of the Court.

603.5. Request for Service Without Bond

Where the heirs or legatees have filed a written request that the fiduciary serve without bond, the Court

may set bond in an amount adequate to protect the rights of the creditors only.

603.6. Corporate Fiduciary

No bond shall be required in any estate or guardianship in which a corporate fiduciary that is qualified by

law to serve in such capacity is appointed to be either the sole fiduciary or one of several co-fiduciaries.

603.7. Nonresident Fiduciary

A nonresident fiduciary shall post bond prior to qualification as required by statute.

603.8. Bond requirements

All bonds filed with the Court shall comply with the provisions of Indiana Code 29-1-11-1 et seq. The

name and address of the insurance underwriter as well as the name and address of the insurance agency

providing the corporate surety, shall be typed, or printed on all corporate bonds.