Probate Bond
What is a Probate Bond?
A Probate Bond is a type of Court & Fiduciary bond that ensures that the executor or administrator of an estate properly manages and distributes the estate’s assets according to the law and the terms of the will or court order.
Protects the beneficiaries and creditors of the estate from financial loss due to mismanagement or misuse of estate assets by the executor or administrator.
Required by courts to ensure responsible management of an estate by the executor or 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.
