Bond Of Distributee Summary Administration {CCP 0504}

CCP 0504 - BOND OF DISTRIBUTEE - SUMMARY ADMINISTRATION. This form is used in probate cases in the Circuit Court of Cook County, Illinois, when a distributee is set to receive property or assets from an estate under summary administration. This type of administration is typically used for smaller estates that qualify for a simplified probate process. The form serves as a legal guarantee—executed by the distributee (principal) and a surety—that the distributee will refund any portion of the distribution if a valid claim arises against the estate after the distribution has been made. This includes claims from creditors or individuals who may have a higher legal right to the distributed assets. The bond ensures that such claims can be recovered, including any associated legal costs or attorney’s fees, should the court order repayment. The form includes the names and addresses of the principal and surety, the bond amount, and must be approved by a judge and notarized to be effective. www.FormsWorkflow.com