|| When Bond
No bond is required by the Register of an executor
named in the Will if the executor (1) is a Pennsylvania resident,
or (2) is not a resident but has been expressly excused in the Will
from filing a bond, or (3) both resident and non-resident executors
are appointed and the non-resident avers in the affidavit portion
of the Petition for Letters that all assets will remain in the custody
and control of the resident executor.
Where no executor is named in decedent's Will,
no bond will be required by the Register if the sole residuary legatee
who will serve as administrator c.t.a. is a Pennsylvania resident.
In addition, no bond will be required if a Pennsylvania resident
is appointed administrator c.t.a. as a result of being nominated
by the residuary legatees who are adult and sui juris. Where the
decedent dies without a Will, no bond will be required by the Register
of a resident administrator unless requested by other intestate
Generally, no bond is required of a corporate
executor or administrator authorized under Section 3174 of the PEF
Code to act as a fiduciary in the Commonwealth of Pennsylvania and
which has filed the necessary petition under Phila. O.C. Rule 1.2.K.
for approval with the Orphans' Court (See Chapter 1, C.). In addition,
no bond is required of an individual personal representative who
avers that an authorized corporate co-fiduciary will take custody
and control of all assets and submits a written statement to the
Register to that effect.