When you are in charge of managing an estate, you have a large amount of responsibility. While your family and others with interests in the estate may trust that you can manage this responsibly, a Probate Bond provides reassurance to them.
What is a Probate Bond?
This type of surety bond is obtained by the court-appointed executor, guardian, trustee, or similar person, and guarantees they will comply with the law as well as with the terms of the will.
If the court-appointed individual does not fulfill their duties, someone can make a claim against their bond.
You can learn more about Probate Bonds.
How Much Does a Probate Bond Cost?
Your Probate Bond amount will vary depending on the size of the estate involved. This means that your Probate Bond cost will also vary.
You will not need to pay the full amount of the Probate Bond to get bonded. The price you pay will just be a small percentage of the total bond amount.
To find out what you would pay for a Probate Bond, get a free quote from Surety Solutions.
You do not get the money back that you pay for a probate bond. Read why here.
Sometimes, you may not need to post a Probate Bond. If there is a will and the will waives the requirement for a bond, the Probate Court will determine if you need a bond.