Often, a financially responsible representative is required by the court or private enterprise to post a bond for an agreed amount. Fiduciary Bonds or Probate Bonds are typically required by statute, courts, or private enterprises for anyone who acts as a fiduciary, including administrators, trustees, guardians, and executors. The Fiduciary Bonds or Probate Bonds protect the financial interests of individuals, estates, trusts, employer sponsored retirement benefit plans, investment and pension plans for which the fiduciary acts. Some of the classes of Fiduciary Bonds and Probate Surety Bonds include the following:
- Administrator Bond
- Personal Representatives Bond
- Executor Bond
- Minors’ Bond
- Decedents’ Estate Bond
- Incompetents’ Bond
- Administrator Cum Tesamento Annexo Bond
- …and more