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FEATURED SERVICES
IN ASSOCIATION WITH
nabt

NACTT

TMA

IWIRC

WorkOut

WE PROUDLY REPRESENT


NEW YORK:
60 East 42nd Street, Suite 965
New York, New York 10165
Tel: 212-986-7470
Fax: 212-697-6091

TEXAS:
4501 Cartwright, Suite 420
Missouri City, Texas 77459
Tel: 281-499-7199
Fax: 281-499-9124

1-800-450-2663
bonds@adamslevine.com

Email to: George Adams
           Carol Levine
            Maria Sponza
FIDUCIARY BONDS

BondsFiduciary Bond

As an attorney, you or your client may be called upon to act as a Fiduciary. A Fiduciary is one who, under the jurisdiction and supervision of a Court, administers property held in trust. The Fiduciary is generally required by law to provide a Surety Bond. This guarantees faithful performance and compliance with Court Orders.

The most common Fiduciary Bonds are:

         •  Administrator/Executor/Trustee of Estates

         •  Conservator or Committee of Incompetent

         •  Plan Administrator or Disbursing Agent

         •  Receiver of Rents

         •  Trustee, Operatingr Trustee or Trustee in Bankruptcy


A Surety Bond does not serve as coverage for the Fiduciary, but rather as protection for the heirs, incompetent, creditors, etc. Fiduciary bonds are of indefinite duration, and depending on the nature of the Surety Bond, it is cancelable upon either or all of the following:

         • Court Order

         • Distribution of Assets

         • Filing of a Final Accounting

         • Payment of Debts

         • Sworn Affidavits by all interested parties

Underwriting:

Acceptance is determined by the experience and integrity of the Fiduciary, personal and financial background, relationship of the trust and the type of assets involved. In the case where the Fiduciary is neither an attorney nor has sufficient experience or financial resources, a method of joint control may be used. This would require that all or most checks are either countersigned by the Surety or the attorney representing the Fiduciary.