Refunding Bond And Receipt

REFUNDING BOND AND RECEIPT. This form is used in the Circuit Court for the Twenty-Third Judicial Circuit in Kendall County, Illinois, as part of estate proceedings. It is completed by a distributee who acknowledges receipt of a partial or full distribution of their share of the estate, either in cash or assets of equivalent value. If the distribution is made before the legal period for claims against the estate has expired—or in a summary administration—the distributee is required to submit a bond. The bond ensures that the distributee will repay the distributed amount (or double that amount, depending on the situation) to the estate’s representative if ordered by the court. This obligation includes repayment of any distribution, legal expenses, and additional administrative costs. www.FormsWorkflow.com