Michigan Bond of Fiduciary

State:
Michigan
Control #:
MI-PC-570-0
Format:
PDF
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Description

Bond of Fiduciary A Michigan Bond of Fiduciary is a type of surety bond required by the Michigan Department of Treasury. It is required by individuals who are appointed as a fiduciary in Michigan, such as an executor of an estate, a receiver, a guardian, a conservator, a trustee, or a power of attorney. The bond guarantees that the fiduciary will fulfill their duties according to the laws of Michigan. There are three types of Michigan Bond of Fiduciary: • Fiduciary Bond: This bond is required for fiduciaries who are responsible for the management of the estate of a deceased individual. • Conservator Bond: This bond is required for conservators appointed by a court to manage the property of a minor or incapacitated adult. • Trustee Bond: This bond is required for trustees appointed by a court to manage the assets of a trust.

A Michigan Bond of Fiduciary is a type of surety bond required by the Michigan Department of Treasury. It is required by individuals who are appointed as a fiduciary in Michigan, such as an executor of an estate, a receiver, a guardian, a conservator, a trustee, or a power of attorney. The bond guarantees that the fiduciary will fulfill their duties according to the laws of Michigan. There are three types of Michigan Bond of Fiduciary: • Fiduciary Bond: This bond is required for fiduciaries who are responsible for the management of the estate of a deceased individual. • Conservator Bond: This bond is required for conservators appointed by a court to manage the property of a minor or incapacitated adult. • Trustee Bond: This bond is required for trustees appointed by a court to manage the assets of a trust.

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Michigan Bond of Fiduciary