CA AB2567

Requires courts to make a "good cause" determination that beneficiaries and creditors will not suffer harm before waiving or reducing a personal representative's bond.

Adds new bond coverage requirements (Section 8482.5) for attorney's fees and costs awarded in successful contests of accounting, calculated as a percentage of estate assets (10% up to $500,000, 12% from $500,000-$1,000,000, and 2% above $1,000,000).

Requires personal representatives and their attorneys to file ex parte applications to increase bond amounts when they have actual or constructive knowledge the bond is insufficient, with account approval conditioned on filing additional bond amounts.

Removes court discretion to fix bond amounts under the Independent Administration of Estates Act, making bond requirements mandatory.

Repeals previous language allowing bond waivers based solely on prior filings by the personal representative in other proceedings.