Related Definitions
What is a Bond?
A security provided by an executor or trustee to ensure they properly manage the estate or trust, protecting beneficiaries from financial loss.
A type of insurance that an executor or trustee may be required to obtain to guarantee that they will faithfully carry out their duties. If the executor or trustee mismanages the estate or trust, the bond provides financial protection to the beneficiaries, who can claim against the bond for any losses. In some cases, the bond can be waived if all beneficiaries agree or if the will explicitly states that a bond is not required.
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Related Articles
Insights and advice on trust and probate estate litigation from our blog.
- Inheritance Disputes
- 17 min read
- Published on
Key Takeaways Introduction A transfer-on-death deed is an estate planning tool that can be used to transfer property from an owner to a beneficiary [...]
Key Takeaways Introduction A transfer-on-death deed is an estate planning tool that can be used to transfer property from an owner to a beneficiary […]
- Trustee Removal, Suspension, Resignation
- 16 min read
- Published on
Key Takeaways Introduction The trustee role is crucial for ensuring that a trust is administered responsibly and in accordance with the instructions clearly laid [...]
Key Takeaways Introduction The trustee role is crucial for ensuring that a trust is administered responsibly and in accordance with the instructions clearly laid […]
- Will Contest
- 18 min read
- Published on
Key Takeaways Introduction It happens far too often that a wealthy family that has always been close and harmonious runs into conflict because of [...]
Key Takeaways Introduction It happens far too often that a wealthy family that has always been close and harmonious runs into conflict because of […]
- Trust & Will Contests
- 16 min read
- Published on
Key Takeaways Introduction A no-contest clause is a legal mechanism used to protect trusts and wills against frivolous or unwarranted disputes. In many estate [...]
Key Takeaways Introduction A no-contest clause is a legal mechanism used to protect trusts and wills against frivolous or unwarranted disputes. In many estate […]
- Inheritance Disputes
- 18 min read
- Published on
Key Takeaways Introduction Unfortunately, the process of having to sort through an inheritance often brings out the worst in people. As if losing a [...]
Key Takeaways Introduction Unfortunately, the process of having to sort through an inheritance often brings out the worst in people. As if losing a […]
- Probate Litigation
- 19 min read
- Published on
Key Takeaways Introduction One of the most frustrating aspects for families navigating probate is that every probate case is different, and it can be [...]
Key Takeaways Introduction One of the most frustrating aspects for families navigating probate is that every probate case is different, and it can be […]
- Trust Litigation
- 13 min read
- Published on
Key Takeaways Introduction Narcissists thrive off of manipulation and control, often seeking power for themselves, which can create a terrible formula when you introduce [...]
Key Takeaways Introduction Narcissists thrive off of manipulation and control, often seeking power for themselves, which can create a terrible formula when you introduce […]
- News
- 2 min read
- Published on
Scott Rahn was featured in USA TODAY in an article examining the rising legal costs and disputes associated with inheritances. As the largest intergenerational [...]
Scott Rahn was featured in USA TODAY in an article examining the rising legal costs and disputes associated with inheritances. As the largest intergenerational […]
- News
- 2 min read
- Published on
Scott Rahn was recently quoted in CNBC in an article examining the growing trend of “givers’ regret” among high net worth individuals and families. [...]
Scott Rahn was recently quoted in CNBC in an article examining the growing trend of “givers’ regret” among high net worth individuals and families. […]
- Trust Contests
- 17 min read
- Published on
Key Takeaways Introduction A trust contest is a legal challenge to the validity of a trust, but it is likely to be unsuccessful unless [...]
Key Takeaways Introduction A trust contest is a legal challenge to the validity of a trust, but it is likely to be unsuccessful unless […]
- Conservatorships
- 22 min read
- Published on
Key Takeaways Introduction When you have a family member who is no longer functioning at their full mental capacity or is unable to make [...]
Key Takeaways Introduction When you have a family member who is no longer functioning at their full mental capacity or is unable to make […]
- Trust Administration
- 18 min read
- Published on
Key Takeaways Introduction A trust protector is a third-party individual who is given expanded powers over the management of a trust by the trust’s [...]
Key Takeaways Introduction A trust protector is a third-party individual who is given expanded powers over the management of a trust by the trust’s […]