Legislators in New Hampshire enacted new legislation concerning executor bonds. The new legislation is named HB 609 and states that when a person dies testate (with a valid will) and there is no surviving spouse leaving an only child as the sole beneficiary and administrator of an estate, a bond will not be required of the only child; this type of bond is meant to guarantee that the deceased’s will shall be carried out properly; in a case with an only child it’s not necessary to have a surety bond because there’s no threat of other beneficiaries in the will being deceitful.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.