Probate bond – this legal term is used in the area of Inheritance Law. It details a legal protection given in cases where the executor or administer of probate assets does not share it following the instructions, implemented in the will or in accordance with the Inheritance Laws – usually due to frauds, negligence, incompetence, etc. This legal protection serves until the probate process is completed and the probate assets are shared among the heirs/beneficiaries.