Frequently Asked Questions About Probate Bonds

Probate Bond

Welcome to our Probate Bond FAQ page! Here, you'll find answers to common questions about probate bonds, including what they are and how to obtain one. Don’t see your question? Call us at (855-470-0877) or email [email protected]. We’re here to help!

What is a probate bond and how does it work?

Probate bonds, also known as fiduciary or estate bonds, are a type of surety bond required by county courts to protect the beneficiaries of an estate from financial harm.

The term "probate bond" covers several bond types used when someone is appointed to manage an estate, such as an executor, administrator, guardian, or conservator. The bond guarantees compensation to interested parties if the fiduciary fails to fulfill their duties or causes financial harm to the estate’s beneficiaries.

Why are probate bonds required?

Probate bonds are required to ensure that the person managing the estate, such as an executor or guardian, fulfills their duties honestly and in the best interest of the beneficiaries. The bond provides financial protection to the estate and its beneficiaries if the fiduciary makes mistakes, acts improperly, or mismanages the assets. It helps maintain trust and accountability throughout the probate process.

How do I know what bond size I need?

The required bond size is typically determined by the court and is based on the value of the estate or the assets involved in the probate process. The court will assess the estate's total value and set the bond amount to ensure adequate protection for the beneficiaries. You can check with the court handling the probate case to confirm the exact bond requirement. Learn more about what is included in the bond amount here.

How much does the bond cost?

The cost of a probate bond depends on the size of the bond, which is typically based on the total value of the estate. The larger the estate, the higher the bond amount required, and in turn, the higher the premium you will pay. Generally, the premium is a small percentage of the total bond value. Keep in mind that the exact cost can vary depending on factors such as the estate’s complexity and the surety's requirements. To get a quote call (855)-470-0877 or email [email protected].

Who pays for the bond?

The executor or administrator of the estate typically pays for the probate bond upfront. Although the fiduciary initially covers the cost, they can often be reimbursed from the estate’s assets, provided the expenses are documented and approved by the probate court. It's important for the fiduciary to maintain clear records to ensure transparency and proper reimbursement.

Can I get a bond with bad credit?

Yes, you can still get a probate bond with bad credit. At Jet, we evaluate the entire estate, not just your credit score. For bonds up to $25,000, no credit check is required, and for bonds up to $50,000, no credit check is needed if you have an attorney. If credit is a concern, we offer solutions like using a co-signer or co-indemnity from heirs to help move the process forward. Click here to learn more about how personal credit impacts bonds.

Do I need an attorney?

While it’s not always required, having an attorney can be very helpful when navigating the probate process. An attorney can guide you through the legal requirements, help ensure all documents are properly filed, and provide advice on fulfilling your fiduciary duties. If you're unsure about the process or facing complex issues, consulting with an attorney is strongly recommended. Jet Surety partners with estate attorneys nationwide. Learn more about the program here.

How quickly can I get a bond?

Upon receiving your application, our team will promptly review the details during business hours. If any additional information is required, we will contact you directly. In most cases, the bond can be issued within 1-2 business days, depending on the size of the bond and the complexity of the case. Please note that more intricate cases or larger bond amounts may require additional time. Learn more here: How to Get Approved for a Probate Bond.

How long is the bond good for and do I have to renew it?

A probate bond remains active until the probate court closes the estate and issues an order of discharge for the bond. If the estate is open beyond a year, the bond must be renewed. Once settled, the court will issue a discharge order, allowing the bond to be released. If it's in the second year, you will be entitled to a prorated refund for the unused portion of the renewal term.

Where will my bond be sent and how do I file it?

Upon receiving your application, our team will promptly review the details during business hours. If any additional information is required, we will contact you directly. In most cases, the bond can be issued within 1-2 business days, depending on the size. Your probate bond will be sent to the address selected at checkout. Once received, the bond will need to be signed and then filed with the probate court handling the estate. The court will provide guidance on the filing procedure, but typically, the signed bond must be submitted along with other required probate documents to proceed with the estate administration.

How do I close an estate and get my bond released?

To close an estate, you must pay all debts, distribute assets, and submit a final accounting to the court. Once the court approves the final accounting, you can file a petition to close the estate. Click here for a step-by-step guide.

If the probate is formal, the court will issue an order to release you from further duties, and this order is required to release the probate bond. For informal probate, proof that all obligations are met is needed to release the bond. Once all debts are paid, taxes filed, and assets distributed to beneficiaries, the probate court will issue a discharge order, allowing the bond to be released and the estate to be officially closed. Learn more about closing an estate and releasing your bond here.

APPLY FOR YOUR BOND

Is there a question we missed?

Call (855) 470-0877 or email [email protected] to speak with a probate expert.

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The information provided is for general informational purposes only. It is not intended to be legal advice and should not be construed as such. Consult with a qualified legal professional if you are seeking assistance with a probate or estate matter.

Notary Bond Application:

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Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

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Employee Dishonesty Bond Application:

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Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

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Contract Bond Application:

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Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

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Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: