Probate Bond (Fiduciary Bond)
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- How much does a probate bond cost?
Prices are a percentage of the bond amount. They will vary depending on the personal credit of the applicant along with the conditions surrounding the estate. If you are just looking for an idea of pricing, you can get a range of costs or you can apply online and get an exact price.
- Is a probate surety bond protection for me?
No. As the executor you are provided no insurance from the bond. It protects rightful heirs receiving inheritance by guaranteeing you (the executor) will disburse the estate per the will or the state's probate laws; should you fail to do so a claim can be made to make the heirs whole. The bond does not protect any heir that is also the executor.
- Can I get approved for probate bonding without collateral?
Yes. Collateral is not required for most probate bonds. They are usually approved with just your indemnification and premium.
- I have bad credit. Can I still get a bond?
It is possible. However, it depends on the extent of your credit issues. You may be able to get approved if you only have moderate credit problems. Serious credit issues will make you ineligible for bonding. Legal counsel will help guide you through the process and increase your chances of getting approved. Fill out our application online to see if you qualify.
- Why is a probate bond required of me?
It protects all rightful heirs that you act as executor for by guaranteeing you will abide by the will or the state's probate laws if there is no will. If you do not disburse the estate according to the will or probate laws, a claim can be filed on the bond, which you must repay.
- How do I avoid claims?
Execute the estate in accordance with the will. If there is no will, you must cooperate with your state's probate law. Watch our video to get a better understanding of claims.