Administrator or Executor Bonds in Virginia
Virginia Probate Bond amounts are set by the court and are based
on the value of the estate
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Administrator and Executor bonds (also called Probate Bonds) are required by county courts in Virginia of persons appointed to handle a deceased's estate. These bonds generally guarantee that all the estate debts will be satisfied and that the remaining assets will be properly distributed to the appropriate heirs. Because of the complexities involved, the surety usually requires that the applicant obtain the assistance of an attorney, although we do have markets that will consider bonds for qualified applicants without an attorney. Bond amounts are determined by the court. Bond premiums must be paid annually until the estate is properly settled.
Executor Bond - Required when the deceased left a Will and named someone in the Will to serve as executor. The surety will usually want to see a copy of the Will to determine to complexity of handling the estate in Virginia.
Administrator Bond - Required when the deceased died intestate (without a Will). The court will usually appoint one of the primary heirs to serve in this capacity. Assets should be dispursed in accordance with the state's laws in Virginia.
Trustee Bond - Usually required when a deceased leaves a Will and designates to leave some assets "in trust" to a beneficiary. In all cases, the surety must review a copy of the Trust.
Sample Probate Bond Pricing in Virginia:
In addition to the applicants credit report, there are many other factors that are taken into consideration when pricing Administrator bonds in Virginia. We provide the examples below to give you an idea of what qualified applicants should expect to pay. We find the best possible price for your surety bond given your particular qualifications.
Click on the No Obligation Quote button to complete our simple, one-page online bonding application.
Completing our application allows the underwriters at BondAbility to provide you with a specific quote for the exact bond you need. After you submit our online application, we will respond with your personalized quote within the hour!
Many counties in Virginia require that the surety sign the bond at the courthouse. Obviously if your county requires this, we will not be able to accommodate you as we are not physically located in Virginia.
Therefore it would be best to check with the court BEFORE completing the application above.
Complete the Application that follows.
A free quote will be emailed to you within minutes!
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Virginia is a state with a very rich historical background. The first of the 13 colonies was Jamestown, Virginia. Today, the town is a popular tourist attraction and the culture and history of the first settlers of the town has been well preserved. Williamsburg is another famous Virginia town known for preserving the history of its ancestors and is virtually a "reenactment" of the life of its earliest settlers. The state is the current center of the United States government, with part of Washington D.C. being located within Virginia. Over a quarter of the states workers are employed with the government, more than any other industry. The Pentagon, one of the countries most important federal offices, is also the largest building in Virginia, and has 68,000 miles of international phone lines. Two former presidential homes are located in the state. George Washington's Mount Vernon and Thomas Jefferson's Monticello were both built before the White House was completed. Virginia is home to the U.S. Atlantic Naval Fleet, and the state has the largest ship building yard in the world. During the Civil War, more battles took place in the state, more than 2,000 of the 4,000 total battles.