Notary Bond Application:
X
Ohio Administrator and Executor Bond
An executor or an administrator (commonly referred to as a fiduciary) is appointed by a probate court to look after and work on behalf of a decedent’s estate. While fulfilling such obligations in the State of Ohio, the county court handling the case may require the filing of a probate bond.
Jet Insurance Company provides both the Executor Bond and Administrator Bond as an assurance to the court that all estate duties will be performed according to the court’s and Ohio’s rules, regulations, and laws. The surety bond also acts as restitution for any party financially damaged by the fiduciary’s actions while closing the estate.
Jet is a direct surety provider, so we can offer the Executor or Administrator Bond at an affordable price while offering quality customer service. Have any questions? Give us a call at (855) 470-0877 and we will be happy to help.
What Is the Bond Limit of an Ohio Executor and Administrator Bond?
Whether it is an Executor Bond or Administrator Bond that is needed in Ohio, both have a custom limit that is determined by the county probate court. At a minimum, the bond limit must be double the estimated value of the estate and of the annual real estate property rentals that will come into control of the fiduciary.
How Much Does an Ohio Executor and Administrator Bond Cost?
The surety bond cost is based on the bond limit and personal credit score of the executor or administrator. With Jet, the price of the bond is only a small fraction of the bond limit. Jet may also request a copy of the decedent's will, when applicable. An approved rate will be sent via email once we have completed the mandatory soft credit check and final review of the bond application.
Jet Surety charges $85 per year for all administrator 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. Ohio Statute 5807.09 allows administrators to be reimbursed for the bond premium as an estate expense.
What Is the Difference Between an Executor and an Administrator in Ohio?
In terms of their duties, there is no difference between an executor and an administrator; the difference is in how they are appointed. An executor is named in the will and last testament of the deceased person and is set to manage and close the estate according to the will’s terms (court approval of the executor is needed). If there is no will, the court will appoint an administrator to manage and/or administer the deceased person’s estate. In relation to the decedent, an administrator is generally a surviving spouse or one of the next of kin.
General duties of the executor and administrator include the following:
- The collection of all property and assets of the estate (an inventory of such must be submitted to the court within three months of appointment)
- Pay off debts, taxes, and expenses of the deceased person with court-approved assets
- Preserve and manage the deceased person’s estate
- Distribute remaining assets to the appropriate beneficiaries according to the will or probate court’s orders
Some wills and last testaments include instructions for the executor to open and manage a testamentary trust for a specific beneficiary of the deceased person. The executor is then given the added title of a testamentary trustee and will be in charge of opening the trust with specific criteria (such as it can’t be used until the beneficiary reaches a certain age), transferring the instructed assets into the trust, and putting it in the beneficiary’s name as directed per the will.
If there is a delay in the appointment of an executor or administrator, the court will appoint a temporary fiduciary known as a special administrator. This may occur if the will is contested, if there are problems serving notice to appropriate parties, or if there is a dispute between beneficiaries. How long the special administrator will be in place and what their duties are can be tailored by the court to meet the estate’s immediate needs, but either way, a probate bond will still be required. The appointment process will conclude once the executor has been officially approved or an administrator has been appointed to administer and/or manage the estate to its final account.
Why Is a Bond Required for Executors and Administrators in Ohio? Are There Exemptions From the Fiduciary Bond?
The executor and administrator, as fiduciary, are responsible for the management, preservation, and distribution of the deceased person’s property and assets. This process tends to be drawn out and complications can arise. With this in mind, Ohio county probate courts require fiduciaries to acquire an Executor Bond or Administrator Bond as an assurance that the well-being of the estate and the beneficiaries are taken care of in line with the court’s and State’s standards. If for any reason the fiduciary fails to fulfill these duties, the surety bond will act as a financial guarantee for the damaged parties.
General exemptions from the surety bond requirement include the following scenarios:
- If the executor is next of kin of the deceased person and, per the will, is entitled to the entire estate
- When there is no will and the administrator is next of kin as well as the sole beneficiary of the entire net proceeds of the estate
- If the surviving spouse of the decedent is entitled to the entire net proceeds of the estate
These exemptions do not apply if the will and last testament instruct the fiduciary to acquire a surety bond or if the probate court determines that a bond is needed regardless.
How to Apply for an Ohio Fiduciary Bond With Jet
Our application for both the Ohio Administrator Bond and Executor Bond can be done in a matter of minutes. The online application asks for the fiduciary’s required bond limit, general info regarding the estate, and the fiduciary’s social security number. A copy of the will must be provided if available. Once submitted, a soft credit check will be run along with a review of the application? but don’t worry, this process is quick and will not affect the applicant’s credit score. Jet will send approved rate options that are ready for purchase as soon as they are available. Just fulfill payment to receive a copy of the bond form and receipt right away.
How Are Ohio Executor Bonds Filed to the Probate Court?
The original signed and sealed bond must be filed with the local county probate court in which the deceased person’s estate is located. Once the bond has been purchased with Jet, an underwriter will fill out and seal the bond appropriately and send it to the address indicated in the application. It is the fiduciary’s responsibility to sign the bond and file it to the appropriate county court.
As for where exactly to file the bond, a directory of all county courts in Ohio can be found through Ohio’s state government website under the “Ohio Courts” webpage. The Jet team has also created a chart at the bottom of the page with a list of each county’s local probate court in Ohio, as well as any available contact information for their offices.
Can the Ohio Administrator and Executor Bond Be Cancelled? Are Refunds Available?
Both the Executor Bond and Administrator Bond may be cancelled by the surety provider (Jet), but only if certain steps are taken. We will begin the process once we have submitted a written cancellation request from the fiduciary, which can be sent to [email protected]. Jet must then send a bond termination notice to the county probate court where the bond was originally filed. If the court’s judge accepts this request, the surety bond will be officially cancelled as soon as Jet receives a notice for release of liability.
Unless the administrator or executor has fulfilled their final account duties, the probate judge will require the fiduciary to supply the court with a new bond. The court will remove the executor or administrator from their role if they fail to fulfill this obligation within the court-ordered timeline.
As for refunds, Jet does not reimburse bondholders who have purchased a one-year bond term as the premium is fully earned. However, if a multi-year bond term was purchased and is being cancelled early, Jet can provide reimbursement for any unearned premium available as soon as the liability of the bond has been officially released by notice of the court.
When Does the Bond Obligation End for Ohio Administrators and Executors?
Ohio county probate courts require fiduciary bonds to remain active and on file until all obligations have been fulfilled; this includes the court’s acceptance of the estate’s final account review hearing and the official release of the executor or administrator.
If the appointment as an executor or an administrator is expected to continue past the purchased bond term, the bond will need to be renewed. Jet will send a renewal invoice far in advance of the bond term’s expiration date via email and mail. Just complete payment and the bond will remain active with the probate court for another term.
Once the administration of the estate has been completed, the administrator or executor is required to provide the probate court with a final account within 30 days. The review hearing is held to ensure that all fiduciary obligations have been met regarding the estate, the beneficiaries, and/or the trust. When the final account is approved, the fiduciary will be discharged and the surety bond will be terminated.
According to Chapter 2109.24 of the Ohio Revised Code, the surety bond obligation may end if the probate court approves the resignation or orders removal of the fiduciary from their executor or administrator position.
Fiduciary resignations may occur due to illness, enrollment of military service, or no longer residing in the state (Ohio) of the deceased person’s estate. The executor or administrator may resign at any time with court approval.
The probate court can remove a fiduciary from their role for any of the following reasons:
- Habitual drunkenness
- Fraudulent or deceptive conduct
- Committing negligence or incompetence regarding their duties
- Failure to make and file a court-ordered inventory of the estate within the directed timeline
After giving the fiduciary no less than 10 days notice, the probate court can order the removal of the executor or administrator for the above violations or any other cause authorized by law.
In either scenario, Jet will require notice of the bond’s termination and a release of liability via the probate court.
How Does an Executor or an Administrator Avoid Fiduciary Bond Claims in Ohio?
While managing and administering the estate, the Ohio county probate court expects fiduciaries to carry out all obligations up to regulations stated in Title 21 of the Ohio Revised Code, specifically the sections regarding fiduciaries, executors, and administrators.
A suit can be filed with the probate court by any party who feels the executor or administrator is not properly fulfilling their duties thus causing them financial losses. Some reasons a suit may be filed against the executor or administrator include the following:
- Performing duties in a negligent manner
- Committing embezzlement or fraud
- Misusing estate assets for personal use
- Failure to pay off debts, taxes, and court-ordered expenses of the estate
- Unsuitable or incorrect inventory accounting
- Failure to disburse appropriate funds to beneficiaries
The claimant must file the suit directly with the probate court that is in charge of the estate’s case. If the suit is found to be valid after a hearing and investigation has been conducted, the judge will decide whether or not the fiduciary’s Executor or Administrator Bond will be tapped for restitution to the damaged parties.
What Happens if a Claim Is Filed on the Ohio Administrator or Executor Bond?
In cases where the judge decides it is acceptable to use the bond to cover financial losses faced by the damaged party, a claim notice will be sent to the surety company (Jet) and the official bond claim process will begin.
Once we receive such notice, the Jet team will begin a review of the court’s investigation and any additional documentation the fiduciary provided. It is in the fiduciary’s best interest to be responsive throughout the claim process as we are trying to ensure that the claim is justified and not a mistake made by the court.
Claims that are found to be valid must be paid out by Jet. Per the Executor and Administrator Bond forms, Jet must make payment to the claimant in the penal sum ordered by the court, not to exceed the bond limit. The executor or administrator is ultimately held responsible for their actions and must reimburse Jet for the claim payment made on their behalf.
Ohio County Probate Courts
Below is a list of all the county probate courts located in Ohio, as well as their addresses and contact information.
| County Courthouse | Phone Number | Address |
|---|---|---|
| Allen County Court of Common Pleas, Probate Division | 419-223-8501 | Allen County Probate Court 1000 Wardhil Ave. Lima, OH 45805 |
| Ashland County Court of Common Pleas, Probate Division | 419-282-4325 | Ashland County Courthouse 142 W. 2nd Street Ashland, OH 44805 |
| Ashtabula County Court of Common Pleas, Probate Division | 440-576-3451 | Ashtabula Probate Court 25 West Jefferson Street Jefferson, OH 44047 |
| Athens County Court of Common Pleas, Probate Division | 740-592-3252 | Athens County Probate Court 1 S. Court Street, 2nd Floor Athens, OH 45701 |
| Belmont County Court of Common Pleas, Juvenile & Probate Divisions | 740-699-2144 | Belmont County Probate Court 101 West Main Street St. Clairsville, OH 43950 |
| Brown County Court of Common Pleas, Probate Division | 937-378-6549 | Brown County Probate Court 510 East State St., Suite 1 Georgetown, OH 45121 |
| Butler County Court of Common Pleas, Probate Division | 513-887-3294 | Butler County Probate Court 101 High Street Hamilton, OH 45011 |
| Carroll County Court of Common Pleas, Probate & Juvenile Divisions | 330-627-2323 | Carroll County Probate Court 119 S. Lisbon Street, Suite 202 Carrollton, OH 44615 |
| Clark County Court of Common Pleas, Probate Division | 937-521-1845 | Clark County Probate Court 50 E. Columbia St., 5th Floor Springfield, OH 45502 |
| Clermont County Court of Common Pleas, Probate Division | 513-732-7243 | Clermont County Probate Court 2379 Clermont Center Drive Batavia, OH 45103 |
| Clinton County Court of Common Pleas, Probate Division | 937-382-2280 | Clinton County Probate Court 46 S. South Street, Suite 224 Wilmington, OH 45177 |
| Columbiana County Court of Common Pleas, Probate Division | 330-424-9516 | Columbiana County Probate Court 105 South Market Lisbon, OH 44432 |
| Coshocton County Court of Common Pleas, Probate and Juvenile Divisions | 740-622-1837 | Coshocton County Probate Court 426 Main Street Coshocton, OH 43812 |
| Crawford County Court of Common Pleas, Probate Division | 419-562-5771 | Crawford County Probate Court 112 E. Mansfield St., Suite 200 Bucyrus, OH 44820 |
| Cuyahoga County Court of Common Pleas, Probate Division | 216-443-8785 | Cuyahoga County Probate Court 1 Lakeside Avenue West Cleveland, OH 44113 |
| Darke County Court of Common Pleas, Probate Division | 937-547-7345 | Darke County Probate Court 300 Garst Ave. Greensville, OH 45331 |
| Defiance County Court of Common Pleas, Probate Division | 419-782-4181 | Defiance County Probate Court 221 Clinton Street, Third Floor Defiance, OH 43512 |
| Delaware County Court of Common Pleas, Probate Division | 740-833-2680 | Delaware County Probate Court 145 North Union Street, 3rd Floor Delaware, OH 43015 |
| Erie County Court of Common Pleas, Probate Division | 419-627-7750 | Erie County Probate Court 323 Columbus Ave., 2nd Floor Sandusky, OH 44870 |
| Fairfield County Court of Common Pleas, Probate Division | 740-652-7485 | Fairfield County Probate Court 224 East Main Street, 3rd Floor Lancaster, OH 43130 |
| Fayette County Court of Common Pleas, Probate Division | 740-335-0640 | Fayette County Probate Court 110 E. Court Street, 2nd Floor Washington Court House, OH 43160 |
| Franklin County Court of Common Pleas, Probate Division | 614-525-3894 | Franklin County Probate Court 373 S. Hight Street, 2nd Floor Columbus, OH 43215 |
| Fulton County Court of Common Pleas, Probate Division | 419-337-9242 | Fulton County Probate Court 210 S. Fulton St. Wauseon, OH 43567 |
| Gallia County Court of Common Pleas, Probate & Juvenile Divisions | 740-446-4612 | Gallia County Probate Court 18 Locus Street, Room 1293 Gallipolis, OH 45631 |
| Geauga County Court of Common Pleas, Probate Division | 440-279-1830 | Geuaga County Probate Court 231 Main Street, Suite 200 Chardon, OH 44024 |
| Greene County Court of Common Pleas, Probate Division | 937-562-5280 | Greene County Probate Court 45 N. Detroit St. Xenia, OH 45385 |
| Guernsey County Court of Common Pleas, Probate Division | 740-432-9262 | Guernsey County Probate Court 801 East Wheeling Ave. Cambridge, OH 43725 |
| Hamilton County Court of Common Pleas, Probate Division | 513-946-3579 | Hamilton County Probate Court 230 East Ninth Street Cincinnati, OH 45202 |
| Hancock County Court of Common Pleas, Probate Division | 419-424-7079 | Hancock County Probate Court 308 Dorney Plaza Findlay, OH 45840 |
| Hardin County Court of Common Pleas, Probate Division | 419-674-2230 | Hardin County Probate Court One Courthouse Sq., Suite 210 Kenton, OH 43326 |
| Harrison County Court of Common Pleas, Probate Division | 740-942-2088 | Harrison County Probate Court 538 North Main Street Cadiz, OH 43907 |
| Henry County Court of Common Pleas, Probate Division | 419-592-7771 | Henry County Probate Court 660 N. Perry St., Suite 203 Napoleon, OH 43545 |
| Highland County Court of Common Pleas, Probate Division | 937-393-9981 | Highland County Probate Court 105 North High Street Hillsboro, OH 45133 |
| Hocking County Court of Common Pleas, Probate Division | 740-385-4027 | Hocking County Probate Court 1 East Main Street Logan, OH 43138 |
| Holmes County Court of Common Pleas, Probate Division | 330-674-5881 | Holmes County Probate Court 1 East Jackson Street, Suite 202 Millersburg, OH 44654 |
| Huron County Court of Common Pleas, Probate Division | 419-668-4383 | Huron County Probate Court 2 East Main Street, Room 106 Norwalk, OH 44857 |
| Jackson County Court of Common Pleas, Probate Division | 740-286-1401 | Jackson County Probate Court 350 Portsmouth St Jackson, OH 45640 |
| Jefferson County Court of Common Pleas, Probate Division | 877-690-3729 | Jefferson County Probate Court 301 Market Street Steubenville, OH 43952 |
| Knox County Court of Common Pleas, Probate Division | 740-393-6788 | Knox County Probate Court 117 East High Street, Suite 201 Mount Vernon, OH 43050 |
| Lake County Court of Common Pleas, Probate Division | 440-350-2626 | Lake County Probate Court 25 North Park Place Painesville, OH 44077 |
| Lawrence County Court of Common Pleas, Probate Division | 740-533-4360 | Lawrence County Probate Court 1 Veterans Square Ironton, Ohio 45638 |
| Licking County Court of Common Pleas, Probate Division | 740-670-5624 | Licking County Probate Court 1 North Park Place Newark, OH 43055 |
| Logan County Court of Common Pleas, Probate Division | 937-599-7252 | Logan County Probate Court 101 S. Main Street Bellefontaine, OH 43311 |
| Lorain County Court of Common Pleas, Probate Division | 440-329-5175 | Lorain County Probate Court 225 Court Street, 6th Floor Elyria, OH 44035 |
| Lucas County Court of Common Pleas, Probate Division | 419-213-4775 | Lucas County Probate Court 700 Adams St., Suite 200 Toledo OH 43604 |
| Madison County Court of Common Pleas, Probate Division | 740-852-0756 | Madison County Probate Court 1 North Main St. Room 205 London, OH 43140 |
| Mahoning County Court of Common Pleas, Probate Division | 330-740-2158 | Mahoning County Probate Court 120 Market Street Youngstown, OH 44503 |
| Marion County Court of Common Pleas, Probate Division | 740-223-4060 | Marion County Probate Court 222 West Center Street Marion, OH 43302 |
| Medina County Court of Common Pleas, Probate Division | 330-725-9703 | Medina County Probate Court 93 Public Square, Room 104, Medina, OH 44256 |
| Meigs County Court, Probate Division | 740-992-5290 | Meigs County Probate Court 100 East Second Street, Suite 303 Pomeroy, OH 45769 |
| Mercer County Court of Common Pleas, Probate Division | 419-586-6461 | Mercer County Probate Court 101 North Main Street, Room 205 Celina, OH 45822 |
| Miami County Court of Common Pleas, Probate Division | 937-440-6050 | Miami County Probate Court 201 W. Main St. Troy, OH 45373 |
| Monroe County Court of Common Pleas, Probate Division | 740-472-1654 | Monroe County Probate Court 101 N. Main St. Room 39 Woodsfield, OH 43793 |
| Montgomery County Court of Common Pleas, Probate Div. | 937-225-4640 | Montgomery County Probate Court 41 N. Perry St. Dayton, OH 45422 |
| Morrow County Court of Common Pleas, Probate Division | 419-947-5575 | Morrow County Probate Court 48 East High Street Mount Gilead, OH 43338 |
| Muskingum County Court of Common Pleas, Probate Division | 740-455-7113 | Muskingum County Probate Court 401 Main Street Zanesville, OH 43701 |
| Noble County Court of Common Pleas, Probate Division | 740-732-4408 | Noble County Probate Court 350 Court House Caldwell, OH 43724 |
| Ottawa County Court of Common Pleas, Probate Division | 419-734-6830 | Ottawa County Probate Court 315 Madison Street Port Clinton, OH 43452 |
| Paulding County Court of Common Pleas, Probate Division | 419-399-8210 | Paulding County Probate Court 115 North Williams Street, Suite 201 Paulding, OH 45879 |
| Perry County Court of Common Pleas, Probate Division | 740-342-1493 | Perry County Probate Court 105 North Main Street New Lexington, OH 43764 |
| Pickaway County Court of Common Pleas, Probate Division | 740-474-3950 | Pickaway County Probate Court 207 South Court Street Circleville, Ohio 43113 |
| Pike County Court of Common Pleas, Probate Division | 740-947-2560 | Pike County Probate Court 230 Waverly Plaza, Suite 600 Waverly, OH 45690 |
| Portage County Court of Common Pleas, Probate Division | 330-297-3866 | Portgage County Probate Court 203 West Main Street Ravenna, OH 44266 |
| Preble County Court of Common Pleas, Probate Division | 937-456-8165 | Preble County Probate Court 101 East Main Street Eaton, OH 45320 |
| Putnam County Court of Common Pleas, Probate Division | 419-523-3110 | Putnam County Probate Court 245 E. Main St. Ottawa, OH 45875 |
| Richland County Court of Common Pleas, Probate Division | 419-774-5583 | Richland County Probate Court 50 Park Avenue East Mansfield, OH 44902 |
| Ross County Court of Common Pleas, Probate Division | 740-774-1179 | Ross County Probate Court 2 N. Paint St, Suite A Chillicothe, OH 45601 |
| Sandusky County Court of Common Pleas, Juvenile and Probate Division | 419-334-6211 | Sandusky County Probate Court 100 N. Park Ave. Fremont, OH 43420 |
| Scioto County Court of Common Pleas, Probate Division | 740-355-8207 | Scioto County Probate Court 602 7th Street Portsmouth, OH 45662 |
| Seneca County Court of Common Pleas, Probate Division | 419-447-3121 | Seneca County Probate Court 103 East Market Street Tiffin, OH 44883 |
| Shelby County Court of Common Pleas, Probate Division | 937-498-7263 | Shelby County Probate Court 100 E. Court Street Sidney, OH 45365 |
| Stark County Court of Common Pleas, Probate Division | 330-451-7801 | Stark County Probate Court 115 Central Plaza North, Suite 101 Canton, OH 44702 |
| Summit County Court of Common Pleas, Probate Division | 330-643-2350 | Summit County Probate Court 209 South High Street Akron, OH 44308 |
| Trumbull County Court of Common Pleas, Probate Division | 330-675-2521 | Trumbull County Probate Court 161 High Street NW Warren, OH 44481 |
| Tuscarawas County Court of Common Pleas, Probate Division | 330-365-3243 | Tuscarawas County Probate Court 125 East High Avenue New Philadelphia, OH 44663 |
| Union County Court of Common Pleas, Probate Division | 937-645-3029 | Union County Probate Court 215 West Fifth Street Marysville, OH 43040 |
| Van Wert County Court of Common Pleas, Probate Division | 419-238-1022 | Van Wert County Probate Court 121 E. Main St. Van Wert, OH 45891 |
Vinton County Court of Common Pleas, Probate Division | 740-596-4571 | Vinton County Probate Court 100 E. Main St. McArthur, OH 45651 |
| Warren County Court of Common Pleas, Probate Division | 513-695-1180 | Warren County Probate Court 900 Memorial Drive Lebanon, OH 45036 |
| Washington County Court of Common Pleas, Probate Division | 740-373-6623 | Washington County Probate Court 205 Putnam Street Marietta, OH 45750 |
| Wayne County Court of Common Pleas, Probate Division | 330-287-5575 | Wayne County Probate Court 107 W. Liberty St. Wooster, OH 44691 |
| Williams County Court of Common Pleas, Probate Division | 419-636-1551 | Williams County Probate Court One Courthouse Square Bryan, OH 43506 |
| Wood County Court of Common Pleas, Probate Division | 419-354-9230 | Wood County Probate Court One Courthouse Square Bowling Green, OH 43402 |
| Wyandot County Court of Common Pleas Probate Division | 419-294-2302 | Wyandot County Probate Court 109 S. Sandusky Ave Upper Sandusky, OH 43351 |
