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without bond

Polish translation: bez kaucji (gwarancyjnej)

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14:54 Mar 10, 2007
English to Polish translations [PRO]
Law/Patents - Law (general)
English term or phrase: without bond
I hereby appoint my son John wilson as my successor personal representative, to serve without bond and with all the same powers granted to my personal representative above.
ZenonStyczyrz
Local time: 18:15
Polish translation:bez kaucji (gwarancyjnej)
Explanation:
nie będę sie rozpisywala

Bonding of the Executor:
Bonding means that the Executor of your Will has to obtain a bond to insure the faithful performance of his or her duties. If the Executor steals from the Estate, the beneficiaries can require the bonding company to reimburse their losses. If the executor is a trusted family member, or if the executor is the main or only beneficiary (where he or she would be stealing from him or herself) many Testators do not require the Executor to be bonded. If you do not totally trust the Executor with all of your assets, you will want the executor to be bonded (usually costing the estate approximately $200 to $400 in an estate of $200,000). Remember, the Executor's duties consist of consolidating the Estate, which usually means liquidating your assets into cash and eventually distributing them to the beneficiaries. At some time, the Executor will have a substantial amount of cash available to him or her in the Estate bank account. The bonding is essentially an insurance policy for the protection of your beneficiaries.
http://www.legaldocs.com/htmdocs/defin.htm#Bonding
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bartek
Local time: 18:15
Grading comment
dziękuję
4 KudoZ points were awarded for this answer

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Summary of answers provided
4bez kaucji (gwarancyjnej)
bartek


  

Answers


10 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
bez kaucji (gwarancyjnej)


Explanation:
nie będę sie rozpisywala

Bonding of the Executor:
Bonding means that the Executor of your Will has to obtain a bond to insure the faithful performance of his or her duties. If the Executor steals from the Estate, the beneficiaries can require the bonding company to reimburse their losses. If the executor is a trusted family member, or if the executor is the main or only beneficiary (where he or she would be stealing from him or herself) many Testators do not require the Executor to be bonded. If you do not totally trust the Executor with all of your assets, you will want the executor to be bonded (usually costing the estate approximately $200 to $400 in an estate of $200,000). Remember, the Executor's duties consist of consolidating the Estate, which usually means liquidating your assets into cash and eventually distributing them to the beneficiaries. At some time, the Executor will have a substantial amount of cash available to him or her in the Estate bank account. The bonding is essentially an insurance policy for the protection of your beneficiaries.
http://www.legaldocs.com/htmdocs/defin.htm#Bonding

bartek
Local time: 18:15
Native speaker of: Polish
PRO pts in category: 1993
Grading comment
dziękuję
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