Michigan Laws 700.3603 – Bond not required without court order; exceptions
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(1) A bond is not required of a personal representative appointed in informal proceedings, except in any of the following circumstances:
(a) A special personal representative is appointed.
Terms Used In Michigan Laws 700.3603
- Court: means the probate court or, when applicable, the family division of circuit court. See Michigan Laws 700.1103
- Estate: includes the property of the decedent, trust, or other person whose affairs are subject to this act as the property is originally constituted and as it exists throughout administration. See Michigan Laws 700.1104
- Informal proceedings: means proceedings for probate of a will or appointment of a personal representative conducted by the probate register without notice to interested persons. See Michigan Laws 700.1105
- Person: means an individual or an organization. See Michigan Laws 700.1106
- Personal representative: includes , but is not limited to, an executor, administrator, successor personal representative, and special personal representative, and any other person, other than a trustee of a trust subject to article VII, who performs substantially the same function under the law governing that person's status. See Michigan Laws 700.1106
- Proceeding: includes an application and a petition, and may be an action at law or a suit in equity. See Michigan Laws 700.1106
- Special personal representative: means a personal representative as described by section 3614 to 3618. See Michigan Laws 700.1107
(b) The personal representative is appointed to administer an estate under a will containing an express requirement of bond.
(c) Bond is required under section 3605.
(2) Except as otherwise provided in this subsection, in a formal proceeding, the court may order bond at the time of the personal representative’s appointment. The court shall not order bond of the personal representative in the formal proceeding if the will relieves the personal representative of bond, unless an interested person requests bond and the court is satisfied that bond is desirable. If a will in a formal proceeding requires bond, bond may be dispensed with if the court determines it is unnecessary.
(3) Bond is not required of a personal representative who deposits, as determined by the court, cash or collateral with the county treasurer to secure performance of the fiduciary duties.