How do I apply for an Administrators Bond?
We make applying for Administrators Bond easy by offering a fast Online Application, or you can Download Application and return by fax or secure message. Information required is the same ordinarily found on a personal credit application, and probate case information. You’ll need decedents full name, county probate case being filed, estate assets, estate heirs, and other information.
How fast can I get an Administrators Bond?
Once you apply for an Administrators Bond, we typically confirm receipt of your application within a few hours. Additional questions often arise, prompt reply to follow up questions helps expedite process. Once all questions have been answered, approval and issuance is typically same day or within 24 hours. Our bonds are sent with USPS Delivery Confirmation / USPS Tracking at no additional charge. Overnight and same day courier is available at additional cost.
What are the qualifications to obtain a Administrators Bond?
Administrators Bonds, or Probate Court Surety Bonds, are evaluated based on three main criteria:
- Personal credit history of applicant;
- Attorney retained to answer questions for applicant;
- Applicant experience handling probate or financial matters.
What is an Administrator Bond?
Probate Courts often order Administrator Bonds for cases when party is deceased without a written will. An administrators bond is very close to an executor bond. Sometimes courts may apply gender-specific language, using Administrator for male, or Administratrix for female. Surety Bonds guarantee applicant will perform fiduciary duties without fraud or malfeasance.
Do you offer large penalty Administrator Bonds?
YES! All insurance carriers have maximum amounts they are financially capable of issuing. Sometimes carriers do not offer large bond amounts due to insufficient capitalization of their own assets – the carrier itself may not qualify to issue high bond values. Since we work with many insurance carriers, including subsidiaries of several of the Top 10 carriers in the world, we’re able to accommodate most any bond value. We’ve underwritten individual probate bonds of 5 million and more.
How much does an Administrators Bond cost?
We work with many insurance carriers offering Administrator Surety Bonds. Each carrier determines its own rates, which are typically based on a tiered percentage basis. Price for an Administrators bond typically vary from 0.25% up to 0.75% of face value, with a minimum premium of $100. Most bonds require annual renewal payment, however we have carriers that offer a flat rate, one-time-payment for minimum penalty bonds.
Best prices… we beat any scheduled rate!
|Administrator Bond Penalty||Administrator Bond Annual Cost|
|Less than $20k||$100+ one-time-payment|
|$20k – $40k||$100+|
|$41k – $60k||$103 – $380+|
|$61k – $80k||$153 – $450+|
|$81k – $100k||$203 – $525+|
|$101k – $150k||$253 – $920+|
|$151k – $200k||$378 – $1220+|
|$201k – $300k||$503 – $1620+|
How is a Surety Bond different than an insurance policy?
A Surety Bond acts more like a co-signor than a regular insurance policy. If Court deems fiduciary duty was violated and payment due, the insurance company issuing probate bond will pay the court. However, unlike an insurance claim where insurance company indemnifies applicant, they will seek reimbursement for anything paid.
Where do you offer Administrator Probate Bonds?
We are currently licensed to offer probate bonds in the following areas:
Do you offer large penalty probate court Administrator bonds?
YES! We work with multiple probate surety bond carriers and have been able to accommodate every probate bond request applicants are qualified for. We are not limited by the same restrictions most other insurance carriers have, and they are unable to issue the very large bond penalty amounts we’ve been successful in obtaining for our clients. 1 million, 2 million, 3 million, 4 million, 5+ million dollar probate court bonds have been issued by our office. More info on our High Penalty Probate Court Bonds.