Administrator or Executor Bonds in PA
Pennsylvania Probate Bond amounts are set by the court and are based
on the value of the estate
Administrator and Executor bonds (also called Probate Bonds) are required by county courts in Pennsylvania of persons appointed to handle a deceased's estate. Administrator and Executor bonds are usually only required when the proposed administrator or executor resides out of state or when there is a disagreement among the heirs. 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 Pennsylvania.
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 Pennsylvania.
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 Pennsylvania:
In addition to the applicants credit report, there are many other factors that are taken into consideration when pricing Administrator bonds in Pennsylvania. 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.
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