Estate administration – also known as “probate” – is the legal process of collecting the assets and property of someone who has passed away, paying off debts, and distributing those assets to the heirs. The Register of Will’s office in the decedent’s county appoints a personal representative to handle these tasks for the estate.
Maryland Estates and Trusts Code 6-102 requires most personal representatives to post a surety bond before being appointed. This bond financially protects the estate's beneficiaries and creditors, ensuring that the personal representative fulfills their duties responsibly and according to law.
Have any questions? Give us a call at (855) 470-0877 and speak to a live Maryland probate bond expert.
Maryland Estates and Trusts Code 6-102e states the bond amount should be no greater than the maximum value of the estate’s personal property. The Register of Wills may reduce the bond amount by any collateral posted with the Register or if the personal representative deposits estate funds in a restricted account. The Register of Wills overseeing the case will set the required bond amount during the appointment process.
Even if the bond requirement is excused or waived, the Register still requires a nominal probate bond for all estates to cover the value of any debts or inheritance taxes payable by the personal representative.
The Maryland Personal Representative Bond costs a minimum of $85 per year. Apply online in minutes or call one of our probate bond experts at (855) 470-0877 to find out exactly how much your bond will cost.
To determine how much the bond will cost, personal representatives can follow the steps listed below:
The Register of Wills sets the bond amount based on the maximum value of the estate’s personal property minus any deposits with the Register of Wills. If the bond amount is waived or excused, the personal representative must obtain a nominal probate bond.
Jet Surety charges $85 per year for all personal representative bonds up to $11,000 in size. For each additional $1,000 increase in the bond amount, the bond premium will increase by the corresponding amount outlined in the table below. See the chart below to calculate the price for larger bonds.
Bond Amount | Additional Premium (per $1,000) | Bond Cost (1 year) |
---|---|---|
$0 - $11,000 | $85 flat rate | $85 |
$11,001 - $50,000 | $5.00 | $85 - $250 |
$50,001 - $200,000 | $3.75 | $250 - $813 |
$200,001 - $500,000 | $2.50 | $813 - $1,563 |
$500,001 - $1,000,000 | $1.00 | $1,563 - $2,063 |
$1,000,000+ | $0.50 | $2,063+ |
Jet does not require credit checks for applicants with bond sizes under $25,000 or under $50,000 if the applicant has retained an attorney. Maryland Estates and Trusts Code 6-102g allows personal representatives to charge the bond premium as an estate expense.
Call us at (855) 470-0877 for an estimate of how much your probate bond will cost.
Step 1 – Hire an Attorney
Although not explicitly required, it is highly recommended that personal representatives hire an attorney to assist with probating a small estate.
Step 2 – Determine Priority
The Register of Wills requires the following items to be completed before applying to become a personal representative:
If the estate has assets valued under $50,000, the personal representative must complete Schedules B and C of the petition. If valued over $50,000, they must complete Schedule A. Applicants can find all the necessary forms online through the Register of Wills’ website here.
Step 3 – Contact the Register of Wills
Anyone seeking to apply for administration of an estate must contact the Register of Wills in the county where the decedent resided or owned property. A register will walk the personal representative through the appointment process, provide them with all required forms, and answer any questions they may have. Scroll to the bottom of this page for the list of county Register of Wills’ offices and their contact information.
Step 4 – Purchase a Surety Bond
Unless otherwise exempt, personal representatives must purchase and maintain a surety bond (exemptions outlined below).
Personal representatives are responsible for the management, preservation, and distribution of the deceased person’s estate. Maryland Estates and Trusts Code 6-102 requires fiduciaries to post a probate surety bond to ensure that the estate assets are managed in accordance with estate regulations and Maryland law. If the fiduciary fails to fulfill their duties, the surety bond is a financial guarantee for any damaged interested party of the estate, such as an heir or creditor.
Even if the court waives the standard bond requirement, the personal representative must obtain a nominal probate bond to ensure they satisfy all debts and tax obligations of the estate.
Personal representatives in Maryland have several key responsibilities in managing the probate process and settling the deceased person's estate. The primary duties are outlined in Title 6 of Maryland’s Estate Code and include the following:
If the deceased person did not leave behind a will, the personal representative must distribute assets according to intestate succession. We’ve researched how estate assets flow in these cases and provided a general overview of the distribution order below.
If the decedent is survived by:
Intestate succession is another example of why an effective estate plan is essential to control who receives property when one passes. We are not licensed attorneys, so we recommend consulting with a licensed estate or probate attorney when managing an estate.
According to Maryland Estates and Trusts Code 6-102, the Register of Wills may waive the surety bond requirement for personal representatives in the following situations:
If the court waives the standard bond requirement, the personal representative must still post a nominal probate bond to guarantee they will pay all estate debts and taxes.
Jet’s application process is simple and fast - we aim to get the personal representative bonded as quickly as possible so they can focus on their obligations. All we need is the bond amount and basic information about the estate.
Once completed and submitted, you will receive your purchase price immediately, or a Jet underwriter will reach out for more information. Some of the factors Jet considers when underwriting these types of bonds:
Applicants for bond limits over $50,000 must submit documentation from the court for review, such as a petition for appointment and the order from the court requiring the bond. If you have any questions about applying, please call our probate underwriters at (855) 470-0877.
Jet (the Surety) and the personal representative must sign the original bond. Jet fills out the bond form, signs as the Surety, and sends the original bond to the representative to sign and file the completed bond with the Register of Wills. Jet will also send the representative an electronic copy of their bond for reference.
Jet will notify the personal representative well before the renewal date to ensure timely payment. Jet will inform the attorney (when applicable) and the Register of Wills if payment is not made. If the renewal remains unpaid, the Register will set a hearing upon being notified of failing to maintain the bond.
The Register of Wills can release the bond once the personal representative has paid all debts, distributed all assets, and provided an approved final accounting. Once the estate is settled, the personal representative simply needs to email documentation to [email protected] so that we can cancel the bond and issue any applicable refund due back to the personal representative. All premiums paid after the first year are subject to a prorated refund for the unused term.
Personal representatives have a critical role in settling an estate, and any unethical action could financially damage the estate’s heirs, creditors, or the State of Maryland. Anyone appointed as a personal representative must adhere to all estate regulations and ensure they fulfill all responsibilities outlined in Title 6 of Maryland’s Estate Code.
Some examples of potential actions that could cause a claim:
An heir or creditor to the estate with proven financial damages caused by the personal representative may file a claim against their bond. To avoid a bond claim, we highly recommend that personal representatives retain the services of an attorney to assist in managing the case.
Upon receiving notice of a claim on the bond, Jet has 30 days to pay the claim or ask for additional time to review it. Jet works tirelessly to protect our clients against faulty claims, so even if the Register of Wills requests a bond payout, we assess all documentation provided before paying out the claim. However, if a claim is valid and Jet pays the claimant, the personal representative must pay Jet back as the representative is ultimately liable for their own actions.
Below is a list of all the Register of Wills' offices located in the State of Maryland, as well as their addresses and contact information.