Description

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Providing a detailed discussion of all aspects relating to probate bonds, this handbook is written by a team of highly experienced attorneys and claims professionals. Its twenty chapters examine all topics relevant to the issues that arise in the use of probate bonds, including: - Public policy and the requirement for probate bonds - Underwriting and issuing probate bonds - Types of probate bonds - Claimants on a bond, and the conditions or requirements for claims on a bond - Statute of limitations on the surety's liability - Handling and disposition of fiduciary bond claims - Liability issues, including for money principal borrows, the surety's liability for acts before the bond was issued, and for misconduct of co-fiduciaries - Attorney neglect and bad acts on the surety - Fiduciaries serving estates in multiple capacities - The Prudent Investor Rule and exposure of the probate surety - Non-estate property obtained under "Color of Office" - Prior judgment against the principal - Penal sum issues relating to probate bonds - Defenses available to the probate bond surety - Recovery and salvage - Probate surety and bankruptcy - Practical guidance on handling probate bond claims.

About the Author

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Jeffrey M. Frank is Managing Partner of Alber Crafton, PSC, practicing in the Troy, Michigan, office. Sharon A. Sergeant is Claims Director for CNA Surety in its Sioux Falls, South Dakota, office.