I have gotten a few phone calls from clients asking about surety bonds because of the death of a loved one. Most people don’t know what a surety bond is or why they need one so here it goes. A surety bond is like insurance for an estate and the beneficiaries involved. Unfortunately, a lot of our loved ones die without having left a will, also known as dying intestate and when this happens in NJ you may need a surety bond.
Another challenge with surety bonds is they require excellent credit and many people seem to have a problem being able to secure one. This creates a lot of tension and frustration because usually you don’t find out about this until you are in the midst of making arrangements for a loved one who has passed and this is the last thing you want or need to have to deal with.
The link below contains a great blog post about surety bonds. Check it out, http://yandy-ea.blogspot.com/.