Vermont Trustee's Bond Instructions are a set of requirements and guidelines set by the Vermont Secretary of State's Office for trustees wishing to be bonded in the state. The bond is issued by an approved surety company and guarantees the safekeeping of funds entrusted to the trustee. The bond amount must be at least $25,000, and the bond must be renewed annually. The instructions include two different types of Vermont Trustee's Bonds: a Fiduciary Bond and a Fidelity Bond. The Fiduciary Bond is required for trustees who will be dealing with real estate transactions or the distribution of assets of estates. The Fidelity Bond is required for trustees who will be managing a trust fund and handling funds of a fiduciary nature. The instructions also include a list of documents that must be filed with the Vermont Secretary of State's Office in order to obtain the bond. These documents must include a copy of the trust agreement, a copy of the power of attorney, a copy of the bond, and a copy of the trust account authorization. The bond must be signed by the trustee and a representative of the surety company, and the surety company must be approved by the state of Vermont.
Vermont Trustee's Bond Instructions
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How to fill out Vermont Trustee's Bond Instructions?
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