Archives: July 2019

What is a Surety Bond?

A surety bond is a written promise to pay damages or to indemnify against losses caused by the party or parties named in the document through nonperformance or defalcation.   What is a Surety Bond? A surety bond is a contract among at least three parties: The obligee – the party who is the recipient of an obligation, The principal – the primary party who will be performing the contractual...

Understand a Probate Bond and How much it will Cost?

Probate Bond is also known as the estate, executor, and fiduciary bonds. These bonds are required to be purchased by a person responsible for distributing a person’s estate after he or she passes away. The probate bond protects the deceased’s assets. Trustees have certain duties (some of which are fiduciary). Carry out the expressed terms of the trust instrument Defend the trust Prudently invest trust...

Understanding a Guardianship Bond and Cost of a Guardianship Bond.

Guardianship Bond insures that an appointed guardian will correctly manage the finances of the individual. This type of bond is also known as custodian bond.  Custodian Bond, a type of Probate Bond, guarantees faithful performance of duty by a fiduciary appointed by the court to administer the estate of a minor or incompetent person. The Custodian Bond is synonymous with the Guardianship Bond. Guardianship bond...