A Probate Bond is typically required by the court by an executor over a person's estate once they have passed away.
Some of the names these bonds go by are: Probate Bond, Executor Bond, or Administrator Bond
Estate planning often requires an executor's appointment to settle a deceased’s affairs, manage property and assets of the estate until debts and taxes are paid, and distribute the deceased property to the heirs.
Probate bonds guarantee the honest and faithful accounting of an executor on behalf of an estate and its beneficiaries.
Probate bonds are not insurance. The bonded party would be responsible to the surety for payments it makes on your behalf due to your failure to fulfill your duties toward the estate. An Indemnity Agreement signed when purchasing the bond functions as your promise to repay the surety for the losses you cause the surety to pay on your behalf. The Executor is appointed by the court as well as the limit required for the bond. The limit of the bond will be based upon the total asset value of the estate.
Reed Insurance has been issuing bonds since 1946. We have the experience to meet your bond needs and offer a direct way to obtain probate bonds. By simply completing our form above, you will be able to purchase and download your bond.
The steps are easy:
- Get a quote online
- Fill out your information.
- Satisfy Underwriting requirements
- Make your payment online.
- Download or Print your bond
That Simple! Start now by clicking here.