Probate Bond Renewal: What You Need to Know Probate bonds are required by courts to ensure that executors, administrators, guardians, and other fiduciaries carry out their duties honestly and diligently. These bonds provide financial protection for the beneficiaries of estates and guardianships, as well as creditors and other interested parties. In order to maintain this…
Attorneys frequently request specific bond amounts based on what they think is the minimum required amount, but often lack the full knowledge of probate bond minimums and requirements. These arbitrary amounts or statements such as “give us the minimum” or “just give us a 40k bond” can lead to inappropriate bond requests, higher costs, and…
Guardianship bonds may not be the most thrilling topic, but they play a critical role in protecting vulnerable individuals who cannot manage their finances and personal affairs. Each state has its own rules about the bond penalty amount, but there may be additional local rulings or regulations that apply. If you’re not sure what the…
We regularly get requests from bond principal’s and attorneys to ‘cancel out’ a probate bond. Sometimes they’ll even just write ‘cancel’ on the bill. Believe it or not, we’ve even had a few ignore our advices, and the bonding company sent their accounts to collections! Although it may seem counterintuitive, the death of a ward…
Purchasing a probate court bond usually isn’t like shopping for car insurance. Many clients already have a relationship with an insurance agent who offers surety bonds, or the attorney does. But working with an agent with access to multiple bonding companies is important. A probate bond specialist can help you find the right option for…
