What is a Bond for the Administrator?

A bond is an insurance policy purchased by the estate to guarantee the performance of the administrator.  If the administrator steals from the estate, the insurance company replaces the assets that are taken.    The bond requirement is for twice the value of the non-real estate assets.  Thus, if the financial assets are worth $100,000, then a bond in the amount of $200,000 must be obtained.  The cost of the bond is paid out of the estate assets.

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