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Texas Estates Code - EST § 1105.154. Specific Bond Amount

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Except as otherwise provided by this section, the judge shall set the amount of a bond of a guardian of an estate in an amount equal to the sum of:

(1) the estimated value of all personal property belonging to the ward;  and

(2) an additional amount to cover revenue anticipated to be derived during the succeeding 12 months from:

(A) interest and dividends;

(B) collectible claims;

(C) the aggregate amount of any installments or periodic payments, excluding income derived or to be derived from federal social security payments;  and

(D) rentals for the use of property.

(b) The judge shall reduce the amount of the original bond under Subsection (a) in proportion to the amount of cash or the value of securities or other assets:

(1) authorized or required to be deposited by court order;  or

(2) voluntarily deposited by the guardian or the sureties on the guardian's bond as provided in Sections 1105.156 and 1105.157(a).

(c) The judge shall set the amount of the bond for a temporary guardian.

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Cite this article: FindLaw.com - Texas Estates Code - EST § 1105.154. Specific Bond Amount - last updated January 01, 2024 | https://codes.findlaw.com/tx/estates-code/est-sect-1105-154/

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