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Why Would a Court Require an Administrator or Executor Bond?

A Last Will and Testament lays on a table. A judge may require an Administrator or Executor be bonded before handling a deceased person's estate.

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.

This 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 a lawyer to help you thorough the process. The lawyer fess can be billed to the estate as well as the surety bond premium (the cost of the bond) and any subsequent bond renewal premium.

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 info@suretygroup.com or fax to 404‑351‑3237. You may also apply online and email or fax the court order separately.

How Much Does This Bond Cost?

The premium that you pay for an Administrator, Administratrix or Executor Bond will vary depending on the size of the estate and the amount of the bond required by the court.

Did You Know?

If a person doesn't appoint an Executor in their will, the courts will appoint an Administrator to handle the estate. The duties are the same.

An "Administratrix" is a term used for a female Administrator.

Related Links:

Read our blog, "Wills, Estates and Guardianships Can Require Fiduciary Bonds"
AARP - Things to Know ABout Being an Executor of Estate

Contact SuretyGroup.com

Let our bond specialists assist you with your bond needs.

Phone: 1‑844‑432‑6637
Emailinfo@suretygroup.com
Fax:     404-351-3237
Hours: 8:00-5:00 CST, Monday through Friday

 


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