Question

When Phyllis passed away, she left an inheritance for her three children, including ten ounces of gold for each of them. To execute her will, her lawyer hires another attorney, Williams, to oversee the careful distribution of the gold. The court requires a bond to assure Williams will conduct himself honestly. Which type of bond has the court required?

Answer 1

The court has required a fiduciary bond to ensure honest distribution of the gold in Phyllis' inheritance.

Step-by-step explanation:

The court has required a bond known as a fiduciary bond to ensure that the attorney, Williams, will conduct himself honestly in the careful distribution of the gold from Phyllis' inheritance. A fiduciary bond is a type of surety bond that guarantees the faithful performance of a person's duties as a fiduciary, such as an executor or administrator of an estate. It provides financial protection to the beneficiaries of the estate in case the fiduciary fails to act in their best interests.