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New Hampshire Administrator and Executor Bond
Probate, also known as estate administration, involves legally collecting a deceased person’s assets and property, paying off their debts, and distributing the remaining assets to the rightful heirs. The Circuit Court in the decedent’s county appoints an administrator or executor to handle these tasks for the estate.
New Hampshire Statute 553:23 requires most administrators and executors to post a surety bond before being appointed if the estate value is over $25,000. The bond ensures that the personal representative does their job properly. It provides security that meets court approval, protecting the estate’s beneficiaries and creditors by making sure the representative manages the estate responsibly and legally. If they fail to do so, the bond offers financial protection to the heirs and creditors.
Have any questions? Give us a call at (855) 470-0877 and speak to a live New Hampshire probate bond expert.
What is the Required Bond Amount?
According to New Hampshire Statute 553:13, the probate court judge has the discretion to determine the bond amount for estate administration on a case-by-case basis. When setting the bond amount, the judge examines factors like the value of the estate’s personal property and the interested parties in the estate
The judge has the authority to require an additional bond with sufficient sureties or to reduce an existing bond at any time. Bond increases usually occur after the administrator files an estate inventory. This can be initiated by the administrator or requested by an interested party if it is deemed necessary based on the circumstances.
How Much Does a New Hampshire Administrator and Executor Bond Cost?
A New Hampshire Administrator and Executor Bond cost 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:
- Determine the Required Bond Amount
The Circuit Court Probate Division determines the bond amount by considering the maximum value of the estate’s personal property, subtracting any deposits held with the court.
- Calculate the Total Cost
Jet Surety charges $85 per year for all administrator and executor bonds up to $17,000 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 - $17,000 | $85 flat rate | $85 |
| $17,001 - $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 - $1,500,000 | $1.00 | $1,563 - $2,063 |
| $1,500,000+ | $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. New Hampshire Statute 554:23 allows for administrators to be reimbursed for the bond premium if approved by the judge.
Call us at (855) 470-0877 for an estimate of how much your probate bond will cost.
What is the Process of Becoming an Administrator or Executor in New Hampshire?
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 – Prepare the Required Documents
The Circuit Court Probate Division requires the following items to be completed before applying to become an administrator or executor:
- Petition for Probate
- Signed consent waivers from the other estate heirs
- Appointment of Resident Agent if the applicant is out-of-state
- Copy of death certificate
- Decedent’s last will and testament (if applicable)
These documents can now be filed electronically by e-filing at www.courts.state.nh.us/probate. If the value of the estate is $25,000 or more, the court will require that you obtain a corporate surety bond, except in exceptional circumstances. The Court will issue an Order setting the amount of the bond after reviewing the estate assets and granting the petition. Applicants can find all the necessary forms online through the Circuit Court Probate Division’s website here.
Step 3 – Contact The Circuit Court Probate Division
Anyone seeking to apply for administration of an estate must contact the Circuit Court Probate Division in the county where the decedent resided or owned property. A clerk will walk the administrator or executor 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 Circuit Courts and their contact information.
Step 4 – Purchase a Surety Bond
Unless otherwise exempt, administrators and executors must purchase and maintain a surety bond (exemptions outlined below).
What is the Purpose of a New Hampshire Administrator and Executor Bond?
Administrators and executors hold the critical responsibility of managing, preserving, and distributing a deceased person's estate. In compliance with New Hampshire Statute 553:23, fiduciaries are mandated to post a probate surety bond. This requirement ensures that estate assets are administered according to New Hampshire law and regulations. Should the fiduciary fail in their duties, the surety bond acts as a financial safeguard from any mismanagement of funds by the fiduciary, providing compensation to any affected parties, such as heirs or creditors, guaranteeing the estate's proper management.
What are the Responsibilities of an Administrator and Executor in New Hampshire?
Administrators and executors in New Hampshire have several key responsibilities in managing the probate process and settling the deceased person's estate. The primary duties are outlined in Title 56 under New Hampshire’s Estate Code and include the following:
- Gather and Inventory Assets: Every administrator is legally required to file a comprehensive, truthful, and itemized inventory of all known estate assets with the court within 90 days of their appointment. This includes identifying and collecting all estate assets, such as bank and investment accounts, personal belongings, and motor vehicles. Administrators and executors must ensure this inventory is filed within three months of their appointment, detailing the fair market value of each item.
- Notify Creditors and Pay Debts: Administrators and executors must notify all creditors of the deceased person's passing and give opportunity to submit a creditor’s claim to the Circuit Court Probate Division. If the claim is valid, the administrator or executor must pay it from estate funds before distributing any assets to heirs. Creditors must have at least six months from the date of the appointment to file a claim against the estate.
- File Tax Returns: The administrator or executor is responsible for paying all required inheritance taxes for the deceased individual and the estate. These taxes must be settled before any assets are distributed to heirs. For detailed information on taxable property, refer to New Hampshire’s Administration of Estates Booklet.
- Distribute Assets to Beneficiaries or Heirs: After settling all debts, taxes, and expenses, the administrator or executor must distribute the remaining assets to the beneficiaries or heirs following the will's provisions or the laws for intestate estates under New Hampshire law.
- Provide Accounting: The administrator or executor must thoroughly document all financial transactions made on behalf of the estate. Within twelve months of appointment, if the fiduciary is still appointed, they must file an accounting report that comprehensively summarizes the estate's income, expenses, distributions, and all other financial activities. The Circuit Court Probate Division can provide examples of accounting reports to aid in your filing.
How is the Estate Distributed if There's No Will?
If the deceased person did not leave behind a will, the administrator 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:
- A spouse but no children: The spouse inherits everything
- Children but no spouse: The children inherit everything in equal parts
- A spouse and children: The spouse inherits the first $250,000 of the intestate property, plus ½ of the balance. The children inherit everything else.
- A spouse and children from a previous relationship: The spouse inherits the first $100,000 of the intestate property, plus ½ of the balance. The children inherit everything else.
- No children or spouse, surviving parents only: The parents receive the entire estate
- No children, spouse, or parents; surviving siblings only: The siblings divide the net estate equally
- No living heirs: The estate will "escheat" into the state's coffers according to Section 561:9 of New Hampshire’s Estate Code.
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.
When is a Bond Not Required in New Hampshire?
According to New Hampshire Statute 553:32, the Circuit Court Probate Division may waive the surety bond requirement for administrators and executors in the following situations:
- The decedent dies testate with a sole beneficiary named in the will and appointed as administrator.
- If all interested parties sign a waiver of administration
- If the will explicitly waives the bond requirements or transfers all assets to a trust
- If all heirs to the estate serve as co-administrators
- The court determines it is appropriate under the circumstances.
How Does the Application Process Work with Jet?
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:
- If the applicant has ever committed a felony
- If there are disputes among the estate’s beneficiaries
- If the applicant has an attorney assisting with the estate
- Applicant’s credit history for bond limits over $25,000 if they have not retained an attorney, or $50,000 if they have retained an attorney
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.
How Do You File an Administrator and Executor Bond with the Court?
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 Jet (the Surety) and the administrator or executor 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 Circuit Court Probate Division. Jet will also send the representative an electronic copy of their bond for reference.
Important Terms in New Hampshire Probate
- Administration of an Estate: The management of a decedent’s assets, which includes collecting their property, paying all expenses and debts, and distributing net assets to the heirs.
- Beneficiary: An individual who is legally entitled to a certain portion of a decedent’s estate under a will, also known as an heir.
- Decedent: The individual who has passed away and left the estate.
- Executor: A person nominated in the deceased individual’s will to administer their estate.
- Fiduciary: A person in control of or with influence over another’s property. In this case, it refers to both executors and administrators.
- Intestate: If the decedent dies without a will, the estate is considered Intestate.
- Personal Representative: This is a catch-all term in New Hampshire for the person in charge of settling the estate. The definition includes any executor named in a will or any administrator.
- Probate: The legal process through which the representative of a deceased person’s estate distributes all assets and pays all debts owed.
- Surety Bond: A type of insurance required for New Hampshire executors and administrators that guarantees they will faithfully fulfill their duties to settle the estate.
- Testate: If the decedent dies with a will and the executor is named in the will, the estate is considered Testate.
How Do You Renew the New Hampshire Administrator and Executor Bond?
Jet will notify the fiduciary well before the renewal date to ensure timely payment. Jet will inform the attorney (when applicable) and The Circuit Court Probate Division if payment is not made. If the renewal remains unpaid, the court will set a hearing upon being notified of failing to maintain the bond.
How Long Do You Need the New Hampshire Administrator and Executor Bond?
The Circuit Court Probate Division can release the bond once the administrator or executor has paid all debts, distributed all assets, and provided an approved final accounting. Once the estate is settled, the fiduciary simply needs to email documentation to [email protected] so that we can cancel the bond and issue any applicable refund due back to the customer. All premiums paid after the first year are subject to a prorated refund for the unused term.
What Actions of an Administrator and Executor Can Lead to Surety Bond Claims?
Administrators and executors have a critical role in settling an estate, and any unethical action could financially damage the estate’s heirs, creditors, or the State of New Hampshire. Anyone appointed as an administrator must adhere to all estate regulations and ensure they fulfill all responsibilities outlined in Title 56 of New Hampshire’s Estate Code.
Some examples of potential actions that could cause a claim:
- Committing negligence, embezzlement, or fraud
- Buying or selling any part of the estate without authorization
- Misusing or misappropriation of estate assets, such as mixing estate and personal funds
- Failing to distribute estate assets to its legal beneficiaries
- Nonpayment of any estate inheritance taxes and debts
An heir or creditor to the estate with proven financial damages caused by the administrator or executor may file a claim against their bond. To avoid a bond claim, we highly recommend that administrators and executors retain the services of an attorney to assist in managing the case.
What Happens if a Claim Is Filed on the Probate Bond?
UUpon 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 Circuit Court Probate Division 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 estate administrator must pay Jet back as the representative is ultimately liable for their own actions.
New Hampshire Probate Court Locations
Each county has one probate division. Click on the county below to find probate court addresses, telephone numbers and directions.
| County Register | Phone | Mailing Address |
|---|---|---|
| Belknap County | 603-527-5454 | 4th Circuit - Probate Division - Laconia 64 Court Street, Suite 1 Laconia, NH 03246 |
| Carroll County | 603-539-2246 | 3rd Circuit - Probate Division - Ossipee 268 Main Street Ossipee, NH 03864 |
| Cheshire County | 603-352-0480 | 8th Circuit - Probate Division - Keene 12 Court Street Keene, NH 03431 |
| Coos County | 603-788-4866 | 1st Circuit - Probate Division - Lancaster 55 Park Street Lancaster, NH 03584 |
| Grafton County | 603-448-2208 | 2nd Circuit - Probate Division - Haverhill 75 Court Street Haverhill, NH 03765 |
| Hillsborough County | 603-882-6933 | 9th Circuit - Probate Division - Nashua 30 Spring Street Nashua, NH 03060 |
| Merrimack County | 603-228-0527 | 6th Circuit - Probate Division - Concord 163 North Main Street Concord, NH 03301 |
| Rockingham County | 603-642-3020 | 10th Circuit - Probate Division - Brentwood 10 Route 125 Brentwood, NH 03833 |
| Strafford County | 603-516-5500 | 7th Circuit - Probate Division - Dover 259 County Farm Road Dover, NH 03820 |
| Sullivan County | 603-542-2020 | 5th Circuit - Probate Division - Newport 14 Main Street Newport, NH 03773 |
