Ferrari & Associates Insurance and Financial Services is a full-service insurance and surety brokerage specializing in Fiduciary bonding via our industry-leading estate and guardianship bond program. Our mission is to provide expert support to legal professionals like you, ensuring that the estate administration process runs smoothly and efficiently and fully complies with legal obligations. Whether managing a small or large and complex estate matter, we’ll ensure your clients secure the proper bond to protect the estate and its various stakeholders.
Our estate Program offers expert solutions for all your bonding needs:
An estate bond, also known as a fiduciary bond, probate bond, executor bond, or administration bond, is a financial guarantee that ensures the individual responsible for managing a deceased person’s estate, such as an executor, administrator, or guardian, fulfills their fiduciary duties by the law.
Estate bonds are court-mandated guarantees designed to protect the interests of the estate and its beneficiaries and various stakeholders, such as creditors, the courts, the CRA, and any other entity with a residual right to the estate assets. When someone passes away, an executor (testate) or administrator (intestate) is appointed to manage their affairs, settling debts, paying taxes, and distributing assets. The estate bond ensures that the appointed person acts honestly and transparently, safeguarding the interests of the beneficiaries and ensuring that assets are handled responsibly.
While an estate bond offers protection to the beneficiaries, it also safeguards against potential misconduct by the appointee, such as misappropriation of estate assets, fraud, or unauthorized withdrawals.
It’s important to note that an estate bond is not an insurance policy. Instead, it is a contractual agreement where the bonded individual (the principal) agrees to reimburse the surety for any payments made on their behalf should they fail to carry out their legal duties appropriately. The principal must sign an Indemnity Agreement, promising to repay the surety for any losses incurred due to non-compliance.
Legal professional face many challenges when administering estates. That’s where Ferrari & Associates can assist. We provide a range of estate bonding solutions to ensure your clients are adequately protected:
Each bond type is crucial in ensuring proper estate administration, protecting beneficiaries, and minimizing risks for legal professionals. Ferrari & Associates offers expert guidance to help you secure the appropriate bond for your client’s needs. Feel free to reach out for assistance with estate and fiduciary bonding.
*The information provided on this page is for information purposes only and should not be taken as insurance advice. For actual surety advice, please contact Ferrari & Associates at 1-888-467-8989
© 2025 Ferrari & Associates Insurance & Financial Services
