An advance payment bond provides an estate’s executor or administrator an early release of funds for a specific purpose. The bond guarantees the return of an advance payment if the court later finds the executor or administrator wrongly took the money. The court...
In a previous blog post, I discussed the requirements and characteristics of a Qualified Domestic Trust (QDOT) bond. This post supplements the previous one by including more helpful information. Alternatives to QDOT bonds include irrevocable letters of credit or...
A Qualified Domestic Trust (QDOT) bond is in favor of the Internal Revenue Service (IRS) to guarantee the payment of taxes due on such a qualified domestic trust. A QDOT is a very specific type of trust. A wealthy American citizen sets up this type of trust, prior to...
