Texas Estates Code 305.153 – Specific Bond Amount
(a) Except as otherwise provided by this section, the judge shall set the bond in an amount equal to the sum of:
(1) the estimated value of all personal property belonging to the estate; 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 personal representative or the sureties on the representative’s bond, as provided by Sections 305.155 and 305.156.
Terms Used In Texas Estates Code 305.153
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Claims: includes :
(1) liabilities of a decedent that survive the decedent's death, including taxes, regardless of whether the liabilities arise in contract or tort or otherwise;
(2) funeral expenses;
(3) the expense of a tombstone;
(4) expenses of administration;
(5) estate and inheritance taxes; and
(6) debts due such estates. See Texas Estates Code 22.005 - Court: means and includes:
(1) a county court in the exercise of its probate jurisdiction;
(2) a court created by statute and authorized to exercise original probate jurisdiction; and
(3) a district court exercising original probate jurisdiction in a contested matter. See Texas Estates Code 22.007 - Estate: means a decedent's property, as that property:
(1) exists originally and as the property changes in form by sale, reinvestment, or otherwise;
(2) is augmented by any accretions and other additions to the property, including any property to be distributed to the decedent's representative by the trustee of a trust that terminates on the decedent's death, and substitutions for the property; and
(3) is diminished by any decreases in or distributions from the property. See Texas Estates Code 22.012 - Judge: means the presiding judge of any court having original jurisdiction over probate proceedings, regardless of whether the court is:
(1) a county court in the exercise of its probate jurisdiction;
(2) a court created by statute and authorized to exercise probate jurisdiction; or
(3) a district court exercising probate jurisdiction in a contested matter. See Texas Estates Code 22.019 - personal representative: include :
(1) an executor and independent executor;
(2) an administrator, independent administrator, and temporary administrator; and
(3) a successor to an executor or administrator listed in Subdivision (1) or (2). See Texas Estates Code 22.031 - Property: means real and personal property. See Texas Government Code 311.005
- Succeeding: means immediately following. See Texas Government Code 312.011
(c) A bond required to be given by a temporary administrator shall be in the amount that the judge directs.