The estate consists of her house (the personal prop. being just the furniture,etc.). I am filing (w/sister's signed consent, of course ) to be Administrator.
The estate debts (I am in the midst of totaling) including funeral, costs of final illness (did not involve state medicaid), 4 credit cards, etc. are approximately 20% of the house value, and would therefore be able to be discharged by sale of property. (we are also exploring home loan/mortgage option)
In my particular case, it seems best that the required Bond in Mass. be WITHOUT surety.
This, IF I UNDERSTAND CORRECTLY, will eliminate the necessity, cost, and delay of filing a LATER bond to cover the large penal bond (1.5 times the real estate value) to cover the sale of the property), when I must, as administrator, sell the property to discharge the debt.
By filing the bond WITHOUT surety, In my Mass. county, required publication and court backup will result in it being approx. 6+ weeks for me to receive my Papers of Administration.
QUESTION 1: Will taking the delay "up front" by filing for bond without surety now, ELIMINATE THE NECESSITY, cost (via surety company), and delay of obtaining a later required bond when I sell the property (or the asking of friends to sign for personal surety under the penal bond of 1.5 times real estate value, an imposition upon friendship I will not make, technical though it may be)
(addit. poss: Could I file with PERSONAL surety now (just nominal penal 1.5Xpersonal, friends agreed), get administration quickly, then get bond W/O surety at time of real estate sale, or is that either not allowed, or too time consuming at sale time?)
(ps pg1067-thank you for earlier advice,unfortunately "Death" stopped me short from following it)