A probate bond, also called an estate or executor bond, guarantees that the person appointed to settle an estate manages it honestly and distributes it according to the will and the law.
A probate bond, also called an estate, executor, administrator, or personal representative bond, guarantees that the person a court appoints to settle an estate will handle it honestly and follow the will, the court's orders, and state law. That means gathering the assets, paying valid debts and taxes, and distributing what remains to the rightful heirs. If the appointed person mismanages the estate or takes what is not theirs, the surety compensates the heirs and creditors up to the bond amount.
The executor named in a will, or the administrator appointed when there is no will, posts the bond when the probate court requires it. Some wills waive the bond, and some courts still require one anyway to protect the heirs. The court decides.
The court sets the penal sum, usually based on the value of the estate's personal property, and sometimes the expected income during administration. It is set per estate, so there is no fixed figure.
Have your letters of appointment or the court order handy, along with an estimate of the estate value. We review the file with carriers that write fiduciary bonds and can often turn a quote around the same day.
Tell us about your case and we will review it with A-rated surety carriers that write court and fiduciary bonds. Most quotes come back within one business day.
This page is a general summary and not legal advice. Bond requirements and amounts are set by the court and can vary by county and case. Confirm the current requirement with the court before you apply.