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Probate Bond

A probate bond is a guarantee to the court that ensures that the wish of a deceased person is carried out honestly, ethically, and legally.

Normally, the person who dies has kept a will for his/her property and appoints an executor to handle the management of their last will and testament. The executor appointed by the person looks after the proper distribution of assets and property to their heirs. In case the person dies and has not left a will, the court appoints an administrator to look after the property distribution of the deceased. To protect the interests of the heirs and make sure that no kind of mismanagement or fraud will be done by the executor or the manager of the will, a probate bond is required.

What are the types of probate bond?

Generally depending on the type of probate, there are various names for probate bond. Some of the types of probate bonds are as following:

• Guardianship bond

• Conservator

• Administrator

• Estate of court

• Trustee

• Personal representative

What can be the cost of Probate bond?

The cost of probate bond varies from one sate to other. It also depends on the size of estate involved. The cost of the bond is to make sure that the executor does not mishandle the will.

It is not required to make full payment of the probate bond to get a bond. If you want to apply for a bond that cost $1,000 you need not to make the complete payment. The cost of the probate bond starts at 0.5% of the complete bond amount. This means you might have to pay $50 for a probate bond that costs $1,000.

Generally, the probate court decides whether or not you have to get bonded.

Who is protected by probate bond?

General probate bonds, not any specific probate bond, protect the beneficiaries and the estate from fraud committed by the person who has been appointed to handle distribution of the property. The probate bond gives satisfaction to the estate and the beneficiaries of the estate that no fraud or mishandling will be done on the estate’s assets.

You can easily apply for a probate bond at Suretegrity. All you have to do is print out the state for which you need a probate bond, click on the bond type, fill necessary details, make payment, and print out your bond. Simple and easy!

For any query, you can call our customer service executive or send us an email.

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