Bond

  • A safe guard for the Beneficiaries or Heirs to protect the property they are entitled to from any wrongdoing by an Administrator or Executor. Bond must be in place before Courts will grant anyone authority to act for the Estate. This is like an insurance policy, and once the Estate is closed the Administrator or Executor can Petition the Court for reimbursement for the premium paid on the Bond.

 Words commonly used with this term include:

James F. Roberts
Founder and owner of the Law Office of James F. Roberts and Associates, a premiere estate planning law firm