Surety Bonds 101 - Fiduciary Bonds

  • Fiduciary Bonds (aka Probate)- guarantee the faithful performance of an individual appointed by the court to administer the affairs of another individual or firm. Such as the administrator of a deceased's estate that is lacking a will, a guardian or conservator, or a trustee appointed to oversee the reorganization or and administration of a business or individual subject to bankruptcy proceedings. These bonds are filed with the court as the named Obligee, but generally run for the benefit of anyone with an interest in the assets of the entities being administered.