Fiduciary / Probate Bonds

Probate & Fiduciary bonds are instruments that guarantee faithful performance of duty in regard to handling another person’s estate or assets. The Fiduciary can be named by the court or prescribed in a will.

Here are some of the most commonly used fiduciary / probate bonds that King Street Agency issues:

• Administrator Bond. An administrator is a person appointed by the court when someone dies intestate. The duties of the administrator are to oversee the deceased’s assets. The bond guarantees the faithful & honest handling of the estate.
• Conservator Bond. A conservator is a person appointed by the court as fiduciary to financially manage someone else’s monetary interests, i.e. bank accounts, securities & brokerage accounts, investment funds, real estate, etc. The bond guarantees the faithful & honest performance.
• Executor Bond. Also known as estate bonds, an executor is named in a will or appointed by the court to carry out duties associated with the deceased’s assets. The bond guarantees the performance as prescribed by law.  Many states require the executor to post a bond if he lives in a different state.
• Guardian Bond. A guardian is appointed by the court when someone can no longer care for themselves or is under the age of 18. The typical responsibilities of the guardian are care giving and providing routine medical treatment.
• Personal Representative Bond. Another term for probate, the personal rep bond guarantees the person in charge of the estate will financially manage an estate on behalf of the heirs.
• Trustee Bond. If an individual prefers to establish a trust for his heirs as opposed to simply passing on his estate, a Trustee can be named either in the will or by the court. The bond guarantees the Trustee will administer the assets in accordance with the trust and the law.