Ind. Marion Cnty. Prob. Local Rule LR49-PR00 Rule 407

407.1 Except as hereinafter provided, in every unsupervised and supervised estate the personal

representative shall file a corporate surety bond in an amount determined by the Court to be

adequate to protect distributees, creditors and taxing authorities.

407.2 Except as provided in MSCPR 407.7, no surety bond is required where a corporate

banking fiduciary qualified by law to serve as such is either the fiduciary or one of several co-

fiduciaries.

407.3 No surety bond is required in a solvent estate where the decedent's spouse serves as

personal representative and is the sole distributee.

407.4 Where a Will provides that bond be dispensed with, the Court shall nonetheless fix a

bond in an amount adequate to protect creditors and taxing authorities.

407.5 Where the personal representative is a distributee, the bond may be reduced by the

personal representative's estimated net distributive share, but the Court will fix a bond adequate

to protect other distributees (if any), creditors and taxing authorities.

407.6 Where all distributees consent in writing that the personal representative serve without

bond, the Court will nonetheless determine whether to require a bond in an amount adequate to

protect creditors and taxing authorities.

407.7 As required by I.C. §29-1-10-1, if the petitioner is a nonresident individual or corporate

fiduciary, or if an appointed fiduciary becomes a nonresident of Indiana, the petitioner must file

a bond in an amount: (A) not less than: (i) the probable value of the estate's personal property;

plus (ii) the estimated rents and profits to be derived from the property in the estate during the

probate period; and (B) not greater than the probable gross value of the estate.

407.8 Bond in Will Contests. Upon the initiation of a Will Contest, the plaintiff(s) must file a

bond conditioned for the due prosecution of the proceedings and for the payment of all costs if in

the proceedings judgment is rendered against the plaintiff. Since in Indiana, “costs” is a term of

art with specific legal meaning including only filing fees and statutory witness fees and since I.C.

§33-37-10-3 provides that witness fees are five dollars ($5.00) per day, unless circumstances

presented to the Court dictate otherwise, plaintiffs will be required to deposit with the Clerk of

the Court the sum of five hundred dollars ($500) as the required bond, or, alternatively, may file

a corporate surety bond in the amount of five hundred dollars ($500).