Court & Fiduciary Bonds
A fiduciary is someone who has been appointed by the courts to manage property or assets of people and businesses who are unable to manage these affairs on their own. They are usually appointed by the courts with specific mandates to carry out certain activities, and are often asked to guarantee the performance of their duties by posting a form of security or surety bond.
The most common types of fiduciary bonds are:
- Administrator/Executor/Trustee of Estates
- Conservator of Incompetent
- Receiver of Rents or monies owed
- Trustee or Trustee in Bankruptcy
The purpose of the Surety Bond provided by the fiduciary is not for their protection, but rather to protect the minors, heirs, incompetents, or creditors of the estate or property assets. These surety bonds often do not have an expiry date and may continue indefinitely until another action of the court takes place. Some of those actions include:
- Distribution of Assets
- A Subsequent Court Order
- Payment of Debts in the case of a bankruptcy action
- Sworn Affidavits by all interested parties
- Filing of a Final Accounting
Once your online application has been received, a friendly Surety Bond expert will reach out to you within hours, not days.