A probate bond is a type of bond that a court may require. The court may appoint an executor, fiduciary, trustee or administrator of a deceased person’s estate. And the court may also require that the executor/administrator/fiduciary post a surety bond. The surety bond will guarantee that you will uphold your fiduciary responsibility to lawfully perform your duties.
How Do I Obtain A Probate Bond?
In order to obtain a probate type of bond you will need to complete an application. This application will ask a variety of questions about your personal finances and the finances of the estate that you will be managing. Your personal credit will be pulled as part of the application process. Having good personal credit is important. Your personal credit score is a measure of your financial responsibility and the surety company is interested in supporting bonds for financially responsible individuals. You can complete our online application or email nicole@schmalzsurety.com for an application.
How Much Does A Probate Bond Cost?
The premium for a probate bond is a function of the amount of the bond required and your credit score. The amount of the bond is set by the court and an amount relative to the value of the estate. And the better your personal credit score the lower your rate will be for the bond.
We Are Here To Help!
We are here to help guide you through the process. Give us a call at 512-640-6444 and we’d be happy to discuss your bond need. Or you can email me, Nicole Schmalz, and I can help you. We look forward to working with you soon!
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