What are Foreign Executor Bonds?
Foreign Executor Bonds are a type of estate administration bond specifically needed when the executor resides outside of the province of the intestacy. Or, if there is a Will, where the executor lives outside of the British Commonwealth.
When do judges rule that a Foreign Executor Bond is needed?
However, we often see judges rule on the need for executors to obtain a Foreign Executor Bond if they are based a significant geographical distance from Canada even within Commonwealth countries, or if they are living in a region with a different framework of laws or where they speak a different language.
Example of when a Foreign Executor Bond may be required
Take New Zealand for example. Although New Zealand is a Commonwealth nation, a judge may rule that a Foreign Executor Bond is required for an executor living in that region due to the sheer distance from the location of the estate.
Need help securing a Foreign Executor Bond?
For further information or if you have any questions about Foreign Executor Bonds, please contact our experienced team at inquiries@www.estatesure.ca.
