Detailed Answer
Under Washington law, the estate administrator (also called personal representative) must follow court-supervised procedures and post a bond to protect heirs and creditors. Key mechanisms include:
1. Court-Approved Bond
• Before acting, the administrator typically must post a bond unless waived by heirs or the will. See RCW 11.18.020 for bond requirements and waiver procedures. The bond amount equals the value of estate assets plus anticipated income, ensuring funds to cover breaches of duty.
2. Inventory and Appraisal
• Within three months of appointment, the administrator must file an inventory listing all estate assets and their appraised values. See RCW 11.40.010. The court reviews this to confirm adequate bond coverage and detect mismanagement early.
3. Periodic Accounting and Final Accounting
• The administrator must file accountings showing income, expenses, distributions, and remaining assets. Creditors and beneficiaries receive notice and may object. Final approval discharges the administrator. See RCW 11.44.020.
4. Judicial Oversight and Removal
• If the administrator mismanages the estate or fails to file required reports, any interested party may petition the court for removal. The court can surcharge (financially penalize) the administrator or surety on the bond. See RCW 11.44.080.
5. Surety Liability
• The bond’s surety company guarantees performance. If the administrator breaches duties—such as misappropriating funds—the court can require the surety to pay victims up to the bond amount. The administrator is ultimately liable to reimburse the surety.
Helpful Hints
- Keep detailed, dated records of all transactions and correspondence.
- Monitor statutory deadlines: inventory (3 months), notice to creditors (4 months), final accounting (usually within one year).
- Notify beneficiaries and creditors promptly when accountings are filed.
- Request bond waiver only if all heirs agree in writing and court approves.
- Consult a probate attorney promptly if you anticipate disputes or complex assets.
Disclaimer: This article is for general informational purposes only and does not constitute legal advice. For guidance on your specific situation, consult a qualified attorney.