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Probate Bonds

AMERICA'S LEADING PROVIDER FOR SURETY BONDS
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Probate Bonds

Required by a probate court and include executor, administrator, personal representative, guardian, conservator, and fiduciary bonds.

What is a Probate Bond?
A Probate bond protects the beneficiaries of an estate from financial harm if the fiduciary of the estate (your customer) breaches their fiduciary duties. A fiduciary is a person that puts the interests of someone else, in this case, the beneficiaries of the estate, ahead of their own. Probate bonds are required by a probate court as a prerequisite to an individual assuming the fiduciary role over an estate’s assets.

A Probate bond can be required for two primary types of estates – (1) Estate of a Deceased Person, or (2) Estate of a Minor or Incompetent Person. Below are the types of probate bonds associated with each situation:
A Probate Bond for a Deceased Person
Administrator – Required for fiduciary handling the affairs of an individual who has passed away without a will.
Executor – Required for a fiduciary who has been designated in the will as the executor for an individual who has passed away.
A Probate Bond for a Minor or Incompetent Person
Guardianship – Required for a fiduciary who administers the estate of a ward – a minor OR an individual deemed legally incompetent. The fiduciary may also make health-related decisions for the ward.
Conservatorship – Required for a fiduciary who administers the estate of a ward. Unlike guardians, conservators are only responsible for financial decisions rather than the health and well-being of the ward.