what does expressly relieving them of the giving of any bond or the filing of any inventory or the making of any return to court whatsoever mean in a will?
Answer
It means that the testator of the will is asking the court to allow the executor not to post a bond with the court, and not to do annual and final returns, and inventories. Assuming a court accepts that request, those powers will be granted.
Answer
I can understand about the bond part, but not about the inventory part. Bond is there to make sure that the personal representative does what he/she is supposed to do. If the personal representative does not do his/her job properly and causes some kind of financial loss to the estate, bond protects the heirs since they can make a claim against the bond ni such case. However, getting qualified and finding a bonding company can be difficult and expensive so I recommend that bond be waived where the personal representative is a trusted friend or family member.
I don't know about the waiver of any duty to file an inventgory and accounting. That is required by probate. Depending on the assets and beneficiaries, there can be a simplified form of probate to dispense with some of these requirements, but if there is a more complicated estate, I don't think its a good idea. The person could have made a trust if he/she did not want court involvement.
If the testator is still alive, if its been awhile, I would have the will reviewed by a competent estate planning attorney. Its a good idea to have it periodically reviewed anyway.
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