Probate Bonds of all types, including the Estate Bond, require good personal credit and the services of an attorney must be enlisted. This type of bond is also known as an Executor Bond, Administrator Bond,Conservator Bond, Fiduciary Bond, Guardianship Bond, Trustee Bond, or a Probate Bond.
This Estate Bond, a type of Probate Bond, guarantees faithful performance of duty by a fiduciary appointed by court to administer the estate of an insolvent or incompetent person.
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 Estate Court Bond holds you accountable for your decisions.
By possessing an Estate Court Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your decisions.