Fiduciary Bonds
A fiduciary bond is a type of court surety bond for individuals appointed to manage the assets, property, or legal affairs of another person. A probate court or other judicial authority requires the bond to ensure the fiduciary performs their responsibilities ethically and in accordance with the law.
We offer the following Fiduciary Bonds:
Filter Bonds
Fiduciary Bond Cost
The cost of a fiduciary bond varies based on the required bond amount set by the court, your credit profile, and the size or complexity of the estate or assets being managed. The term of a fiduciary bond ends when you’re released of your fiduciary duties.
Common Types of Fiduciary Bonds
There are several types of fiduciary bonds that vary based on who is legally responsible for carrying out the fiduciary duties and who benefits from their services. Whether you are overseeing an estate, managing assets for a minor, or administering a trust, your court order will specify the required bond and amount.
Below are the primary bond types that fall under the fiduciary bond category:
- Executor/Administrator Bond: Required for individuals named in a will (executor) or appointed by the court (administrator) to manage the estate of a deceased person.
- Guardianship Bond: Required for individuals appointed to manage the finances or personal affairs of a minor or incapacitated adult.
- Conservator Bond: Required for individuals handling the financial matters of a conservatee.
- Trustee Bond: Required for individuals appointed to manage a trust’s assets.
- Receivership Bond: Required for individuals appointed to manage and preserve property or business assets during litigation.
How Fiduciary Bonds Work
Fiduciary bonds protect beneficiaries, heirs, and estates from misconduct or financial harm caused by the appointed fiduciary. As with all surety bonds, fiduciary bonds are a three-party agreement involving:
- Principal: Fiduciary (you)
- Obligee: Court requiring the bond
- Surety: Company issuing the bond and providing financial backing
If the fiduciary fails to fulfill their legal obligations, such as mishandling funds, misappropriating assets, or violating court instructions, the surety may pay damages to the affected estate or beneficiaries. The fiduciary must then reimburse the surety for the full amount of any paid claim.
How to Get a Fiduciary Bond
Below are the general steps to securing a fiduciary bond:
- Review Your Court Order: Identify the type of fiduciary appointment and the exact bond amount required.
- Request a Quote: Contact us to receive an instant quote and begin the application process.
- Receive the bond: Download your bond and file it with the court.
Get Your Fiduciary Bond Today
NNA Surety provides fast, affordable fiduciary bonds for executors, guardians, trustees, and other court-appointed roles nationwide. If you’re ready to secure your bond or would like guidance through the process, call our experts at 855-457-2196.
The Simple Bonding Process
