§ 806 Bond of a testamentary trustee or executor acting as trustee

If someone is named in a will to manage money or property for someone else, that person usually has to file a bond before they can take on the job. This applies whether the person is called a trustee or is an executor who ends up handling property for a beneficiary's benefit, not just distributing it right away.

The bond acts like an insurance policy. It protects the people who are supposed to benefit from the trust or estate in case the person managing the money makes serious mistakes or acts dishonestly. If something goes wrong, the bond can be used to cover losses.

The only way to skip this bond requirement is if the will itself says the person doesn't need one. Many wills include this kind of waiver, especially when the person writing the will trusts the executor or trustee completely. But if the will stays silent on the issue, the court will require a bond before that person can start managing the property.