Wyoming Probate Bonds,
Handled Simply.

Probate in Wyoming is handled by the District Court in each of the state's 23 counties. The District Court admits the will, appoints the personal representative, issues letters, and oversees administration. The Clerk of the District Court records the letters and the bond.

Wyoming is not a Uniform Probate Code state. It administers estates under the Wyoming Probate Code in Title 2. The estate fiduciary is called the personal representative, an executor when named in a will and an administrator when appointed without one. The bond and oath rules sit in Sections 2-3-101 and 2-3-102.

Wyoming imposes no state estate tax and no inheritance tax, and it has no state income tax, so most estates face only the federal estate tax, which reaches only very large estates.

When a Wyoming bond is required, the amount is set under Wyoming Statute 2-3-102:

• At least the personal estate plus real-property income: The penalty of the bond shall not be less than the value of the personal property plus the probable value of the annual rents, profits, and issues of the real property belonging to the estate.
• Value ascertained on oath: The District Court or the clerk ascertains the value by examining the applicant and any other person on oath, and the sureties justify in an amount equal to the penalty.
• Runs to the State: The bond is executed to the State of Wyoming and conditioned on the faithful performance of the personal representative's duties.
• Adjustable: The court may require an additional bond if the original becomes insufficient as the estate is administered.

Wyoming requires a bond before letters issue, but it can be waived three ways. Under Wyoming Statutes 2-3-102 and 2-3-111:

• Bond is the default: Except as otherwise provided, every person to whom letters testamentary or of administration are issued must, before receiving them, execute a bond to the State of Wyoming.
• Waived by the will: No bond is required when the will directs that the personal representative serve without bond.
• Waived by the distributees: The bond may be waived by the distributees of the estate.
• Waived by statute: A bond may be waived where a statute provides for it.
• Court may still require one: Even where a bond is waived, the court may for good cause require one, such as before certain sales of real estate.

Qualifying in a Wyoming estate follows the Wyoming Probate Code and District Court practice:

• Oath and bond before letters: Under Sections 2-3-101 and 2-3-102, the personal representative takes the oath and gives any required bond before receiving letters.
• Qualify within the set time: The order appointing the personal representative states the time to qualify by giving the bond and taking the oath, and the appointment lapses if the representative does not qualify in time.
• Right county: The estate is opened in the District Court for the county where the decedent resided at death.
• Sureties justify: The bond carries two or more individual sureties or one corporate surety, who justify on written oath in an amount equal to the penalty.
• Recorded by the clerk: The letters and the bond are recorded by the Clerk of the District Court.
• Bond stays in force: When required, the bond remains in effect until the estate is closed and the personal representative is discharged.

When a Wyoming bond is required, the cost is a premium paid to the surety company. When the will or the distributees waive bond, there may be no premium at all.

• Typical rate range: Most Wyoming probate bonds are priced at roughly 0.5% to 1% of the bond amount per year for well-qualified applicants. A $100,000 bond commonly costs between $500 and $1,000 per year.
• Minimum premium: Many sureties apply a minimum premium of about $100 to $150 for small bonds.
• Credit impact: Applicants with strong credit qualify for the lowest rates. Applicants with weaker credit may pay a higher rate or be asked for collateral.
• Corporate surety: Wyoming allows a single corporate surety in place of two individual sureties, which is how most bonds are written.
• Annual renewal: Wyoming estates can stay open across more than one year, so the premium is charged annually until the personal representative is discharged.
• Premium as an estate expense: Wyoming courts generally allow the bond premium to be paid from estate assets as a cost of administration.

Beyond the standard personal representative bond, Wyoming probate practice uses several additional bond types:

• Executor Bond: The bond of an executor named in a will, required unless the will or the distributees waive it.
• Administrator Bond: The bond of an administrator of an intestate estate, conditioned on faithful administration under Section 2-3-102.
• Special Administrator Bond: The bond of a special administrator appointed to preserve estate assets when letters are delayed or no sufficient bond is filed.
• Successor Representative Bond: A bond in like penalty and with like sureties required of a successor personal representative who takes over an administration.
• Guardian Bond: A guardian of the estate of a minor or an incapacitated person is generally required to post a bond tied to the value of the protected estate.

Wyoming does not run a licensing board for private professional fiduciaries, but the Wyoming Probate Code places clear duties on every personal representative:

• Qualify before acting: The personal representative takes the oath and gives any required bond before receiving letters and acting for the estate.
• Inventory and appraise: The personal representative collects the estate, files an inventory with the court, and files an appraisal of the listed property.
• Bond secures performance: Where required, the bond runs to the State of Wyoming and protects the heirs, distributees, and creditors if the personal representative fails to perform.
• Final report and accounting: The personal representative files a final report and accounting, which the court reviews before approving distribution.
• Nonresident administrator: A nonresident serving as administrator of an intestate estate must serve with a Wyoming resident co-representative appointed by the court.

• Albany, District Court (Laramie)
• Big Horn, District Court (Basin)
• Campbell, District Court (Gillette)
• Carbon, District Court (Rawlins)
• Converse, District Court (Douglas)
• Crook, District Court (Sundance)
• Fremont, District Court (Lander)
• Goshen, District Court (Torrington)
• Hot Springs, District Court (Thermopolis)
• Johnson, District Court (Buffalo)
• Laramie, District Court (Cheyenne)
• Lincoln, District Court (Kemmerer)
• Natrona, District Court (Casper)
• Niobrara, District Court (Lusk)
• Park, District Court (Cody)
• Platte, District Court (Wheatland)
• Sheridan, District Court (Sheridan)
• Sublette, District Court (Pinedale)
• Sweetwater, District Court (Green River)
• Teton, District Court (Jackson)
• Uinta, District Court (Evanston)
• Washakie, District Court (Worland)
• Weston, District Court (Newcastle)