Executor Bond
An executor bond (also called a probate bond or fiduciary bond) is a type of court bond that protects an estate and its beneficiaries.
What is an Executor Bond?
An executor bond is a financial guarantee required by a probate court to ensure that the executor of an estate (the person appointed to carry out a will) performs their duties honestly, lawfully, and in the best interests of the beneficiaries.
What it protects against
The bond protects the estate and beneficiaries if the executor:
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Mismanages estate assets
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Commits fraud or theft
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Fails to follow the court’s instructions or the terms of the will
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Makes errors that cause financial loss
If a loss occurs, a claim can be made against the bond to compensate the estate.
Who requires it
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Probate courts often require an executor bond unless:
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The will explicitly waives the bond requirement, or
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The executor is a close family member and the court grants a waiver
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Requirements vary by state and court.
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Licensed and admitted in all U.S. states and territories.
Rating
Rated “A” Excellent by A.M. Best Company and U.S. Treasury Listed.
(NAIC #10758)
BUSINESS ADDRESS: 123 Tice Boulevard, Suite 250, Woodcliff Lake, NJ 07677.
PHONE: (201) 573-8788.
SURETY LICENSES c,f/: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, GU, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MP, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, VI, WA, WV, WI, WY.
INCORPORATED IN: Pennsylvania.
For more info about surety underwriting limitations read Circular 570 published by the U.S. Department of the Treasury.
Frequently asked questions
