Bond - Refunding {CCP 0389}

CCP 0389 - BOND - REFUNDING. This form is used in the Probate Division of the Circuit Court of Cook County, Illinois, in accordance with Section 24-4 of the Illinois Probate Act of 1975. This form is executed when a distribution from an estate is made, and the recipient (referred to as the principal) is required to guarantee that they will return their fair share of the distributed assets if the court later determines that funds are needed to pay valid estate claims. Along with one or more sureties, the principal jointly and severally agrees to refund the appropriate portion of the distributed assets, as well as any costs incurred in recovering those funds—including reasonable attorney’s fees and additional administrative expenses. This ensures that the estate remains solvent for any unanticipated liabilities that may arise after distribution. The bond must be approved by a judge and notarized, serving as a legal protection for the estate and its representative. www.FormsWorkflow.com