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Trust without bond required

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P

popsfla

Junior Member
What is the name of your state (only U.S. law)? Illinois

I am the trustee of a revocable trust that doesn't require a bond. I understand that not having to acquire a bond reduces costs but does leave me personally at risk?What is the name of your state (only U.S. law)?
 


A

anteater

Senior Member
The bond is not meant to protect you. It is meant to protect the creditors and beneficiaries from trustee malfeasance.

If you do bad things that cause the bond company to fork over, they will be after you like Dog the Bounty Hunter.
 
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