Bond Of Testamentary Trustee {35.1}

SCPC FORM 35.1 - BOND OF TESTAMENTARY TRUSTEE. This form is used in the Stark County Probate Court when an individual is appointed to serve as a trustee under a will—also called a testamentary trustee. This form is essentially a legal promise backed by a surety (usually an insurance or bonding company) to ensure the trustee carries out their duties responsibly. By signing this form, the trustee (the principal) and a surety agree to be financially liable up to a specified dollar amount (the "Amount of Bond") if the trustee fails to fulfill their legal responsibilities. These duties include managing the trust assets faithfully, filing required reports, and acting in the best interests of the beneficiaries. The bond serves as a safeguard to protect the trust assets. If the trustee misuses, neglects, or steals from the trust, or fails to perform their duties properly or on time, a claim can be made against the bond to compensate for the loss. www.FormsWorkflow.com