Fiduciary Bond

(redirected from Probate Bonds)

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.
References in periodicals archive ?
Western Surety's product line includes license and permit bonds, fiduciary and probate bonds, fidelity bonds, notary bonds, and public official bonds.
Mutual) specializes in writing contract surety bonds, license and permit, miscellaneous, and probate bonds and provides them through independent agents appointed by Merchants.