The Law of Probate Bonds

Providing a detailed discussion of all aspects relating to probate bonds, this handbook is written by a team of highly experienced attorneys and claims professionals. Its twenty chapters examine all topics relevant to the issues that arise in the use of probate bonds, including:
• Public policy and the requirement for probate bonds
• Underwriting and issuing probate bonds
• Types of probate bonds
• Claimants on a bond, and the conditions or requirements for claims on a bond
• Statute of limitations on the surety’s liability
• Handling and disposition of fiduciary bond claims
• Liability issues, including for money principal borrows, the surety’s liability for acts before the bond was issued, and for misconduct of co-fiduciaries
• Attorney neglect and bad acts on the surety
• Fiduciaries serving estates in multiple capacities
• The Prudent Investor Rule and exposure of the probate surety
• Non-estate property obtained under “Color of Office”
• Prior judgment against the principal
• Penal sum issues relating to probate bonds
• Defenses available to the probate bond surety
• Recovery and salvage
• Probate surety and bankruptcy
• Practical guidance on handling probate bond claims