Court and Fiduciary Bonds

There are many different situations where the court may require you to secure a bond. One of the common bonds are a court & fiduciary bond, which guarantees that a fiduciary who is acting on someone else’s behalf will do so responsibly and within the terms of their agreement. If you are a beneficiary, you must show this bond to the court to file your claim against the fiduciary. This bond protects a property owner against any financial loss the property may face on behalf of the fiduciary. The bond company will make the payment and the fiduciary will be required to pay the bond company back.

Benefits of securing a court & fiduciary bond

• It is the proper way to legally outline the ownership rights and the expectations of the fiduciary
• The owner of the property is protected against any financial losses to the property
• A reliable financial institution can provide immediate help if something goes wrong

Fraudulent activities that may be done by the fiduciary are brought to a minimum