Detailed Answer
Disclaimer: This article is for informational purposes and does not constitute legal advice.
Under
1. Bond Requirements and Surety Protection
When appointed, an administrator must post a surety bond approved by the probate court. New Hampshire Revised Statutes Annotated (RSA) require a bond unless the decedent’s will waives it or all heirs consent. RSA 554:7 sets bond terms and penal sums. The surety guarantees the estate against losses caused by fiduciary misconduct. If the administrator misapplies funds, beneficiaries or creditors can recover losses from the surety company.
2. Court Oversight and Mandatory Reporting
The probate court supervises estate administration through periodic filings:
- Inventory and Appraisement: Within 30 days of appointment, the administrator must file an inventory with the court and notify heirs. See RSA 554:9.
- Interim Accountings: Administrators often file interim or partial accountings to show receipts and disbursements. Creditors and heirs may review these reports.
- Final Accounting: Before closing the estate, the administrator submits a final account for court approval. See RSA 560:1 and RSA 563:1. Beneficiaries may object and request a hearing.
3. Removal and Surcharge for Non‐Compliance
If an administrator fails to perform duties or mismanages assets, interested parties may petition for removal or surcharge:
- Removal: The court may remove an administrator for misconduct, incapacity or breach of duty. See RSA 554:13.
- Surcharge: Creditors or heirs can seek a surcharge against an administrator for losses caused by negligence or misapplication of estate property. See RSA 562:1.
4. Civil and Criminal Remedies
Beyond probate actions, beneficiaries may file civil suits for breach of fiduciary duty or conversion. The state may pursue criminal charges for larceny by public servant if an administrator intentionally misappropriates estate funds. See RSA 637:2 (Larceny by public servant).
Helpful Hints
- Consult an attorney before bonding or filing reports.
- Keep detailed records of all transactions and communications.
- Notify beneficiaries promptly of filings and hearings.
- Review bond terms, including penal sum and surety obligations.
- Request court guidance if you encounter complex asset issues.