Personal Representative, Administrator & Executor Bonds

An Executor or Administrator of a deceased individual’s will. An Administrator is a fiduciary appointed by the court to conduct the affairs of an estate of someone who has died without a will. An Executor is a fiduciary appointed in a will by the decedent. The fiduciary assumes control of the decedent’s property, collects and pays debts of the estate and preserves assets to be distributed by the court.

Guardian Bonds

A person who takes charge of an adult incompetent’s estate is also called a guardian. A Guardian of Minor generally administers the estate of a minor or preserves the rights and assets of a minor who is involved in litigation.

Legal Custodian Bonds

Required by the Department of Veterans Affairs (VA). The primary function of the Legal Custodian is to manage the money of the ward that is received from the VA. The Legal Custodian must keep the funds in a separate account and file annual accountings with the VA.

Probate Bonds: Who Needs One?