What type of bond protects the executor's performance?

• A. Fidelity bond
• B. Performance bond
• C. Insurance bond
• D. Surety bond

Answer: (D)

A surety bond is the mechanism that protects the executor’s performance. In probate, the court often requires a fiduciary or surety bond to guarantee that the executor will administer the estate faithfully and follow court orders. The bond is provided by a surety (usually an insurance company) and backs the executor’s duties; if the executor mishandles assets or fails to fulfill duties, losses can be claimed against the bond to make the estate whole. Fidelity bonds cover acts of employees, performance bonds are used to guarantee completion of a project, and “insurance bond” isn’t the standard probate term, so the surety bond best fits the role of guaranteeing faithful performance.