Every executor, administrator, and guardian, before entering upon the execution of his or her trust, shall give bond to the probate court in any sum as it shall require, with sufficient surety or sureties, and with condition, except as provided in § 33-17-3 and § 33-17-4, substantially as follows:

(1)  In the case of an executor or administrator with the will annexed:

(i)  To make and return to the probate court, as by law required, a true inventory of all the testator‘s personal property which, at the time of making the inventory, shall have come to his or her possession or knowledge.

(ii)  To administer according to law and the will of the testator, all the personal property of the testator which may come to his or her possession or into the possession of any person for him or her, and all rents and proceeds of real estate which may be received by him or her.

(iii)  To render upon oath true accounts of his or her administration, as by law required.

(2)  In the case of an administrator:

(i)  To make and return to the probate court, as by law required, a true inventory of all the intestate‘s personal property which, at the time of making the inventory, shall have come to his or her possession or knowledge.

(ii)  To administer according to law all the personal property of the deceased and rents which may come into his or her possession or into the possession of any person for him or her.

(iii)  To render upon oath true accounts of his or her administration, as by law required.

(iv)  To deliver his or her letters of administration into the court if a will of the deceased is thereafter proved and allowed, and to settle his or her account in the probate court and to pay over and deliver all the assets remaining in his or her hands or due from him or her on settlement to the executor of the will.

(3)  In the case of a guardian of an estate:

(i)  To make and return to the probate court, as by law required, a true inventory of all the real and personal property of the ward which, at the time of making inventory, shall have come to his or her possession or knowledge.

(ii)  To manage and dispose of all property according to law and for the best interests of the ward, and faithfully to perform his or her trust.

(iii)  To render upon oath, as by law required, a true account of the property of his or her ward and of his or her management and disposition thereof.

(iv)  At the expiration of his or her trust to settle his or her account in the probate court, or with the ward or his or her legal representative, and to pay over and deliver all the property remaining in his or her hands or due from him or her on settlement to the person entitled to the property.