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What are Probate Surety Bonds?

A Probate Surety Bond is a type of court bond meant to protect the assets of a will or those assets not contained in a will.  Generally, when a will is created, you’ll assign an executor to handle your estate.  The executor will distribute your assets, pay your bills, and prove that the will is valid.  If no will exists, the court will typically appoint someone on your behalf.  This person is usually an attorney.  The appointed attorney will then perform the same tasks as an executor.

Why do I need a Probate Surety Bond?

Probate Surety Bonds exist because of the mishandling of estate assets.  For example: Let’s say your sister is appointed as the executor of your parent’s estate.  Your sister is now responsible for dividing and distributing your parent’s assets according to the will.  Now, although unfortunate, let’s say your sister pays off her house using money from the estate.  However, your parent’s will didn’t mention anything about paying off her mortgage with estate money.  The Probate Bond could offer reimbursement for these estate funds because it was mishandled by your sister.

How much are Probate Surety Bonds?

Probate Surety Bond cost is determined by your personal credit score.  Additionally, other factors such as the surety bond amount needed, a contested will, and number of years the bond is expected to last affect the its cost.  For larger bonds, a personal financial statement may be required.  While all of these factors help determine your cost, the average probate bond cost is in between 1-2% of the bond amount.  Discounts are given for 2-3 year prepaid terms.

How can I apply for a Probate Surety Bond?

Please email us for your probate application.  All probate surety bonds are different and some require more information than others.  Your email will be answered by the first available representative and your bond can be approved shortly thereafter.  While email is the fastest way to receive an answer to your question, you may also click on the “Ask a Question” icon below or call us.

Can I get my Probate Bond tomorrow?

Yes, in some cases you can receive your probate bond the next day.  These bonds require a completed application and some additional information based on your bond’s size.  The faster we receive your information, the faster a copy of your bond can be sent.  A copy of your bond can be sent via email immediately after payment is received.  Additionally, your original probate bond can be sent via overnight mail for next day delivery.