Fiduciary Bond

(redirected from Probate Bond)

Fiduciary Bond

A bond that the executor of an estate posts to ensure he/she performs his/her duties properly. Among these duties is preparing an inventory and disposing it according to the terms of the will of the deceased. The executor forfeits the bond if a probate court determines he/she has failed to live up to his/her duties. It is also called a probate bond.
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Its services include securing bonds, including court bonds, probate bonds, appeal bonds, administration bonds and guardian bonds.