I am trying to calculate the amount to place on the form Probate-Petition for Letters of Administration Under the Independent Administration of Estates Act-Limited Authority, County of Alameda, CA; Question 2.d.(3). There are 6 beneficiaries, 3 adult children and 3 adult grandchildren (children of decedent's children). Only the 3 adult children have signed the waiver of bond, the 3 grandchildren are not signing the waiver of bond, which means a bond has to be posted? How do you calculate the amount for 2.d.(3), which asks for $____ in deposits in a blocked account be allowed. Receipts will be filed; (specify institution and location). The decedent's assets are $approx. $68.000.00 in cash balance of a checking account and two real properties (two houses) valued at approx. $720,000.00. What $ amount goes in that box, 2.d.(3) on the probate form? Please, help!
Answer
Is there some reason you have decided to file a probate without an attorney? It sounds as if you may encounter some trouble with at least 3 of your siblings, who are being uncooperative at the outset and costing the estate money by forcing a bond. Especially in Alameda County, you should hire an attorney to guide you through this very difficult process.
With that said, yes, you will need to post a bond. Line 2.d.(3) is not the correct line to use, unless you have sufficient cash assets to cover the value of the real property, which it does not appear to be the case. The bond should be a minimum of $720,000 (the value of the real property), or at least that is my experience with the Judge in Alameda County.
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