post-obit bond

American  

noun

1. a bond paying a sum of money after the death of some specified person.

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Etymology

Origin of post-obit bond

First recorded in 1780–90

Example Sentences

Like a London tradesman, he never presents his bill as long as you give him fresh orders that will increase it; but once prove yourself to be “cleaned out,” by no longer swelling the amount, and he pounces upon you, and demands a post-obit bond upon the next world, which, like all others, will probably be found very disagreeable and inconvenient to liquidate.

From Project Gutenberg