HI - I am helping my sister research because she is trying to be named as the executer of my mother's rather small estate and we are hitting road blocks. The court is requiring that she obtain a surety bond for over the amount of the assets. The surety companies will not bond her without a lawyer.
We do not believe the assets are worthy of either cost.
We filled out the probate paperwork showing the actual gross value of the house and her car, as well as any monies she left behind and investments.
There was no place to fill in liabilities against them but she owed $100k on her house more then it was worth and she owed $1200 on a car that was worth maybe 1200-1500.
So in reality her net worth was well below 0.
So if we filled out the forms wrong, we will gladly fix them and avoid this, but figured we'd see what others knew about this before contacting the clerk in the morning. They told us when we asked last time that it's a statutory issue but if we filled out the papers wrong then obvioulsy they are speaking for what they don't know.
So any idea if we did it wrong or not? Or are we stuck with having to get a lawyer and a bond for a negative estate?