How do I apply for an Executors Bond?
We make applying for Executors 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 Executors Bond?
Once you apply for an Executors Surety 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 executor 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 Executors Bond?
Executors 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 Executors Bond?
Probate Courts often order Executors Bonds for cases when party is deceased with a written will. An Executor bond is very close to an administrators bond. Sometimes courts may apply gender-specific language, using Executor for male, or Executorix for female. Surety Bonds guarantee applicant will perform fiduciary duties without fraud or malfeasance.
How much does an Executors Bond cost?
We work with many insurance carriers offering Executors Surety Bonds. Each carrier determines its own rates, which are typically based on a tiered percentage basis. Price for an Executor probate 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!
|Executors Bond Penalty||Executors 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 Executor Probate Bonds?
We are currently licensed to offer probate bonds in the following areas:
Do you offer large penalty probate court Executor surety 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.