Accept Cookies?
Print Page   |   Contact Us   |   Sign In   |   Register
Search
Small & Emerging Contractors

 

What's New: General

Washington Post article illustrates the importance of having surety bonds required by law

Tuesday, August 12, 2014  

"Joseph Stuart, one of the family’s attorneys, said the case points to a hole in Virginia law. In drafting Edward and Pearl Buckley’s wills, Kincheloe and the Buckleys waived an option requiring the executor to get insurance in the event the estates were misappropriated.

Stuart said the insurance, or surety bond, would have allowed Buckley’s beneficiaries to be reimbursed for Kincheloe’s misdeeds and possibly have prevented the entire mess. Stuart said Kincheloe, who filed for bankruptcy shortly after he was removed as executor, may not have been able to get the necessary insurance if insurers discovered he was in financial distress.

He says Virginia should require attorneys qualifying as executors for non-relatives to get the surety bond."


View entire article at http://www.washingtonpost.com/local/crime/elderly-woman-in-va-cheated-out-of-savings-by-lawyer-she-trusted-family-alleges/2014/08/03/11a88574-092b-11e4-a0dd-f2b22a257353_story.html


Sign In


Forgot your password?

Haven't registered yet?

What's New
Events

10/26/2016 » 10/28/2016
Commercial Surety Seminar

1140 19th Street, NW, Suite 500 · Washington, DC 20036-6617
Phone: 202-463-0600 · Fax: 202-463-0606

Contact Us

 

Follow SFAA: TwitterFacebookLinkedInRSS FeedSFAA NewsFlash

- Legal Notices and Disclaimers -

 

Copyright © 2016 The Surety & Fidelity Association of America