Probate / Fiduciary
Trustee Bond
A trustee bond is a fiduciary bond a court may require from a trustee to protect the beneficiaries of a trust.
- Required by
- Probate and circuit courts
- Bond amount
- Set by whoever requires the bond. We confirm it.
What this bond guarantees
The bond promises the court and the beneficiaries that the trustee will manage trust assets honestly and as the trust and the law require. If the trustee mismanages or takes trust property, a beneficiary can claim against the bond. The surety pays valid claims and recovers from the trustee.
Who needs it
- Court-appointed trustees
- Successor trustees when the trust requires a bond
- Testamentary trustees under a will
- Trustees ordered to post bond after a beneficiary objects
What the underwriter looks at
- Value of trust assets
- Trustee's personal credit and finances
- Whether a professional or attorney is involved
- Control over assets (joint control can lower risk)
Requirements vary by state and by who asks for the bond. Send us the request you received and we will confirm exactly what it calls for.
Common questions
When does a trustee need a bond?
Under the Uniform Trust Code, followed by Florida (s. 736.0702), a trustee gives bond only if the trust requires it or the court finds one is needed to protect the beneficiaries. The court can waive, change, or end the bond.
Who sets the amount?
The court, usually based on the value of the trust's assets that the trustee controls.