As an executrix of an estate, I have been asked to sign a universal appointment bond form. What is the reason for that form?
1 Answer from Attorneys
By signing a universal appointment bond form, you are guaranteeing that you will faithfully perform your duties as required by the law. Failure to perform may make you liable for any actions you take with are against the law or in waste of the estate. Basically, the bond is your word that you will obey the law as it relates to probate and fulfill your duty as executrix or you may be responsible to reimburse the estate of any losses.
This is a routine document required of all executors/administrators of any estate in RI. Some are also required to purchase a commercial bond, but if you have been asked to sign the appointment bond you have not been required to purchase a bond.
Hope this helps.