An Administrator, Administratrix or Executor Bond is required if you or your client have been appointed by a court to discharge fiduciary duties on behalf of a deceased person, a minor or an incapacitated individual.
An Administrator is a person who is appointed by a probate or other court to handle the estate of a person who dies intestate, meaning they did not have a will. When there is a will, the Executor is named by the person who made the will. The duties are the same, which include paying debts of the deceased and distributing assets.
Probate laws vary by state. Many states require administrators and executors to obtain a probate surety bond, while others only require a bond from administrators and executors who may live out of state. Fulton and Dekalb Counties in Georgia often have a bond requirement for estates.
This surety bond covers losses incurred in the event that you or your client fails to handle others' affairs in a proper, legal and ethical manner. Estates can be comprised of cash, real estate, art, jewelry, and other items of value. Each estate is unique and the bond amount varies by the size of the estate and the courts requirements.
As an Administrator or Executor, you may retain an attorney to help you thorough the process. Court costs and most attorney fees are reimbursed out of the estate funds. The surety bond premium (the cost of the bond) and any future renewal premium is not reimbursable with estate funds. The premium is due annually and will continue until the estate is settled and the judge issues a court order releasing the bond.
Prior to processing an Administrator, Administratrix, or Executor Bond, we will need a copy of the court order. You may email this along with your application to firstname.lastname@example.org or fax to 404‑351‑3237. You may also Apply Online and email or fax the court order separately.
The premium that you pay for an Administrator, Administratrix or Executor Probate Bond will vary depending on the size of the estate and the amount of the bond required by the court. With your good credit, rates start as low as $100 for a Georgia administrator probate bond having a $25,000 or less bond requirement. Rates for other states and bond amounts vary. Contact our Surety Bond Specialists for a free quote based on your specific situation.
If an Administrator or Executor fails to obtain a surety bond, the process of distributing assets can be delayed.
An "Administratrix" is a term used for a female Administrator.
Check out our FAQ page Or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, call us first. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
For a downloadable application