Administrator Bond
What is a Administrator Bond?
An Administrator Bond is a type of Court & Fiduciary bond that ensures that the administrator of an estate properly manages and distributes the estate’s assets according to the law and the terms of a court order when there is no will or the named executor cannot serve.
Protects the beneficiaries and creditors of the estate from financial loss due to mismanagement or misuse of estate assets by the administrator.
Required by courts to ensure responsible management of an estate by the administrator.
Applicant’s personal information, credit history, bond amount (determined by the court), and estate details.
Based on credit history and bond amount, usually 1-3% of the bond amount for applicants with good credit
