PROGRAM OVERVIEW
SURETY
BONDS
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| COMMERCIAL SURETY BONDS |
| COMMERCIAL SURETY BONDS |
Fiduciary Probate bonds are required by the courts or the Public Trustee when a person dies or becomes incapable of looking after their financial affairs.
A Guardian bond is required in the case where an individual is deemed incapable of managing their own affairs and has not signed a continuing Power of Attorney to appoint someone to look after his/her financial affairs. The Guardian bond guarantees that the Guardian(s) will look after the individual's financial affairs and will not misuse the funds.
Administration & Foreign Executor bonds guarantee that all creditors of the estate will be paid and that the assets of the estate will be divided amongst the heirs of the estate according to the terms of the Will, if there is one, or in accordance with the Estates Act.
Administration Bonds & Foreign Executor bonds may be requested for the following reasons:
Trustee in Bankruptcy bonds are required by the court appointed Trustee in Bankruptcy and guarantee the Trustees' compliance with the Bankruptcy Act.
Trustee in Bankruptcy bonds also ensure that debts/creditors of the estate will be treated in an equal and fair manner as prescribed by the laws governing bankruptcy.
Completion of the Administration-Guardian Bond Application is needed for any type of Fiduciary Probate Bond e.g. Guardian Bonds, Administration Bonds, Foreign Executor Bonds and Trustee and Bankruptcy Bonds.
Completion of separate applications is needed for bonds in excess of $100,000. Please contact us so that we can assist you through the application process for bonds in excess of $100,000.