Probate Bonds

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Probate Bond

When a person dies, called the decedent, and leaves behind a will, the will's executor will need to probate the will. Consequently, a probate bond is commonly required for this process.

A probate bond is an insurance policy for associated parties of the decedent should the executor breach a fiduciary duty while administering the decedent's estate during probate.

How does a probate bond work? If an executor breaches a fiduciary duty, affiliated parties of the decedent may seek payment from the bond company to recoup the financial injury caused by the executor's misdeed(s). Thereafter, the bond company is entitled to reimbursement from the executor for up to the amount expended by the bond company. The bond company's liability is generally limited to the amount of the probate bond.

Can the probate bond be changed? Yes the bond can both be increased and decreased during probate. For example, the bond might be increased if the executor uncovers previously undiscovered assets of the decedent. Conversely, the bond might be decreased if the appraised value of the decedent's assets are less than estimated.

Probate Bond
The cost of a probate bond is directly proportional to the executor's credit worthiness. The better the credit, the less expensive the bond will be and vice versa. The bond's size generally correlates with the estate's size. For example, the court in its discretion may fix the amount of the bond, but the amount of the bond shall be not more than the sum of: The estimated value of the personal property. The probable annual gross income of the estate. If independent administration is granted as to real property, the estimated value of the decedent’s interest in the real property."Depending upon credit probate bonds range.

We manually calculate the premium. Please submit an application or call us for a quote.
($125 minimum bond fee applies).

Probate Bonds
Probate bonds can and do renew. It simply depends on how complex the case is. Some estates take years to settle. Some settle very quickly. This group of bonds also includes administrators or guardians for over those under 18. If this is the case, the bond will renew.

Probate Bond
Now that you've discovered the Probate Bond, the process is very simple. You can apply right online here. Once we receive your info we begin shopping your bond. Once placed we eMail you the results. You decide how you'd like your bond shipped and we'll invoice you.

Probate Bonds