Rule 7.501. Inventory and Appraisal to show sufficiency of bond

(a) Statement required Every Inventory and Appraisal must contain one of the following statements:

(1) “Bond is waived”;

(2) “Bond has been filed in the amount of $(specify amount)and is insufficient”; or

(3) “Bond has been filed in the amount of $(specify amount)and is sufficient.”

(b) Insufficient bond If the bond is insufficient, the fiduciary (the personal representative, or the guardian or conservator of the estate), or the attorney for the fiduciary, must immediately make ex parte application as provided in rule 7.204 for an order increasing the amount of the bond.

(c) Statement signed by attorney The statement required by (a) must be signed by the attorney of record for each fiduciary who has an attorney of record and by each fiduciary who does not.

Committee Notes

(Subd (a) amended effective January 1, 2007; previously amended effective January 1, 2002.)

(Subd (b) amended effective January 1, 2003; previously amended effective January 1, 2002.)

(Subd (c) amended effective January 1, 2003; previously amended effective January 1, 2002.)