In most cases, your personal representative or executor will be required by law to post a bond with the court before his or her appointment. A bond is an extra administrative expense of your estate whose cost increases with the size of your estate. We suggest you contact your insurance agent if you desire to know the cost of a personal representative's bond. In almost all states, you can waive the requirement that the personal representative or executor post a bond in your will. Waiving the requirement of the bond will not free the personal representative or executor from liability if they mishandle the assets of your estate; however, the bond ensures that the estate will be able to recover any damages for misdeeds by the personal representative from the insurance company that issued the bond as opposed to having to rely upon the assets of the personal representative. The following is from the California Probate Code and is a good general explanation of the purpose of a bond:

15. Should I require a bond? You may require that an executor post a "bond." A bond is a form of insurance to replace assets that may be mismanaged or stolen by the executor. The cost of the bond is paid from the estate's assets.
PROBATE CODE, SECTION 6240-6243

Thus, the decision comes down to whether you desire to have your estate incur the extra expense of a bond in exchange for having an insurance company as an additional place to recover any damages cause to your estate by the personal representative. As you may only desire to waive the bond requirement in the case of a blood relative or spouse serving as the personal representative, we have offered this as an option.

Bonds for Trustees. If the document package you purchased comes with a trust, then whatever determination you make with regard to whether the executor (personal representative) shall be required to post a bond shall also hold true for the Trustee of your trust (i.e., if the executor is required to post a bond then the trustee of any trust you have created will also be required to post a bond).