Administrator & Probate Bonds Surety Bonds

Administrator & Probate Bonds Surety Bonds

Administrator and Executor bonds (also called Probate Bonds) are required by state and local municipalities 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 usually determined by the court. Bond premiums must be paid annually until the estate is properly settled.