A Personal Representative Court Bond is necessary to ensure that a personal representative disperses estate assets in the best interest of the lawful beneficiaries. In cases where the personal representative does not disburse an estate properly, this bond covers any damages that may be incurred.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Personal Representative Court Bond holds you accountable for your decisions.
By possessing a Personal Representative Court Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your decisions.