Administrator and Surety

[Padraigb]

From
http://www.citizensinformation.ie/c...seds-estate/dealing_with_the_deceaseds_estate

If an administrator, rather than an executor, is applying for a grant, a surety (guarantor) must attend the interview also so that the administration bond can be completed. The surety must reside in Ireland and must be worth the gross value of the estate.

It looks to me that somebody proposing to administer an estate worth, say, €700k must find a guarantor with that amount of wealth. In a situation where one child of the deceased is prepared to act as administrator, can another child (and beneficiary) stand surety? Or does the administrator have to get somebody outside the set of beneficiaries?

 

[Vanilla]

Sureties are a thing of the past. Now an administrator can enter into his/her own bond for twice the gross assets of the estate. Or in the alternative buy an insurance bond from Hibernian.

 

[Padraigb]

Thanks, Vanilla.