Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

• Bond: a guarantee of payment. Generally, in estate planning, this is a document which guarantees payment in the event that a person responsible for money or property distribution does not act in accordance with the will or trust, the law, or his or her fiduciary duties. Bonds are generally purchased through a bonding company for 10% of the face value of the bond, which is based on the amount of money or property at stake.