A bond that is posted on behalf of an administrator of an estate to assure that he or she conducts their duties according to the provisions of the will and/or the legal requirements of the jurisdiction. The bond covers any financial losses to the estate due to dishonest or improper acts by the administrator.
Public Administrator/Public Guardian protects and manages the estates of decedents and at-risk individuals who are unable to make decisions. The Public Administrator (PA) administers estates of persons who die with no will or without an appropriate person to act as an administrator; protects the decedent’s property from waste, loss or theft and ensures the estate is administered according to the decedent’s wishes.
In some cases a Surrogate appoints an administrator CTA (cum testamento annexo) when the decedent’s will explicitly names an administrator, but that named administrator cannot qualify because they are deceased, incompetent, unavailable, or simply did not want the responsibility. Administrators CTA also sometimes need bonds for their role.
AN INSURANCE AND BONDING AGENCY WORTH RECOMMENDING. SINCE 1949.