Who can be a surety to an administration bond and what does the court require?
A surety may be any person within New South Wales who is independent of the administrator and can show that he or she has worthwhile assets that cover the amount required in the administration bond. The question of the Supreme Court’s requirements with regard to administration bonds and sureties has for some time been under consideration. That consideration has been directed to looking for ways of reducing the costs and difficulties caused to applicants by the requirement of bonds and sureties, while at the same time continuing to provide suitable protection for the interests of disabled beneficiaries and in other appropriate cases. The Supreme Court Rules define a disabled person as a minor or incompetent person. Briefly, a bond is an undertaking on oath by an administrator to properly perform his or her obligations in the administration of an estate with the sureties guaranteeing to pay to the Crown the amount of the bond in the event of the estate not being duly administered. The re
