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