Requirement of the posting of an Estate Administration bond in Ontario

An executor of an estate has access to and control of the assets of the estate, with very limited supervision. There is a lot of responsibility and it involves a very substantial degree of “trust”, especially by the Court which is responsible for appointing the executor.  As a way to protect the estate and the beneficiaries, the executor is often required to post an estate administration bond. The bond is in place to protect the estate while the executor pays the debts of the deceased and distributes the estate to the beneficiaries.  A bond is usually required where an executor is a non-resident of Ontario or where there is no will. Arranging for an estate administration bond can be time consuming and expensive, often executors request the Court to order that a bond is not required.  This occurs if the Court is satisfied that a bond is not required to protect the estate and the beneficiaries.