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Tennessee Personal Representative Bond
Probate is the legal process of distributing a person’s property after they pass away, ensuring their assets are distributed to the rightful heirs and any outstanding debts are paid. The person that handles this process is called a personal representative, specifically an executor or administrator. According to Tennessee Code 30-1-111 and 30-1-201, personal representatives must swear an oath and post a surety bond with the probate court judge. The Tennessee legislature enacted the surety bond requirement as a financial security for the estate's beneficiaries.
Have any questions? Give us a call at (855) 470-0877 and speak to a live Tennessee probate bond expert.
Terms to Know when it Comes to Tennessee Personal Representative Bonds
- Administrator: A person responsible for administering the estate of a deceased individual when there is no will.
- Administrator Ad Litem: A person appointed by the court to prosecute or defend a suit on behalf of the decedent’s estate because either there is no executor or administrator, or the executor or administrator is adversely interested
- Administrator with Will Annexed: A person appointed by a court to fill the role of an executor of a will when an executor is unspecified or unavailable
- Beneficiary: An individual who is legally entitled to a certain portion of a decedent’s estate
- Decedent: The individual that 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, and the administrator will petition the court for appointment.
- Next of Kin: The nearest blood relative to a decedent who will take control of a decedent’s estate
- Personal Representative: This is a catch-all term in Tennessee for the person in charge of settling the estate. The definition includes all executors and administrators of an estate.
- Probate: The legal process through which the representative of a deceased person’s estate distributes all assets and pays all debts under the supervision of the court
- Public Administrator: A member of the county government who is elected to oversee a decedent’s estate when there is no one qualified to serve as executor or administrator
- Settlement: This is the act of distributing the assets and settling the debts of the estate
- Surety Bond: A type of insurance required for Tennessee executors and administrators that guarantees they will faithfully fulfill their duties to settle the estate.
- Testate: If the decedent dies with a will, the estate is considered Testate, and the executor should be named.
What is the Required Bond Amount?
Tennessee Code 30-1-201 et seq states that the bond amount for personal representatives must equal the full value of the estate, at a minimum. However, the required bond amount set by the court will be no greater than double the full value of the estate.
The probate court overseeing your case will set the specific bond amount for each case and has the authority to increase or decrease the bond amount upon request of an interested party or at the court’s discretion.
Public administrators must also obtain a bond in an amount set by their county legislative body before beginning their fiduciary duties, according to TN Code 30-1-401.
How Much Does a Tennessee Personal Representative Bond Cost?
The Tennessee Personal Representative Bond costs a minimum of $150. See the chart below to calculate the price for larger bonds. 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 probate court judge determines the bond amount based on the fair market value of the estate’s assets listed on the initial application for appointment.
- Calculate the Total Cost
Personal Representative Bonds up to $20,000 cost just $150 per year. For each additional $1,000 increase in the bond amount, the bond premium will increase by the corresponding amount outlined in the table below.
| Bond Amount | Additional Premium (per $1,000) | Bond Cost (1 year) |
|---|---|---|
| $0 - $20,000 | $150 flat rate | $150 |
| $20,001 - $60,000 | $5.00 | $150 - $350 |
| $60,001 - $200,000 | $4.00 | $350 - $910 |
| $200,001 - $500,000 | $3.00 | $910 - $1,810 |
| $500,001 - $1,500,000 | $2.00 | $1,810 - $3,810 |
| $1,500,000+ | $1.00 | $3,810+ |
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. Personal representatives may also request the court to reimburse the bond premium from estate funds. Call us at (855) 470-0877 to find out how much your probate bond will cost.
What Is the Process of Becoming a Personal Representative in Tennessee?
Step 1 – Determine Priority
Priority for appointment as a personal representative will be granted according to TN Code 30-1-106 in the following order:
- Persons nominated in the will
- The decedent’s surviving spouse
- Any next of kin
- Creditors of the decedent
Step 2 – Hire an Attorney
Although not explicitly required, we recommend that personal representatives hire an attorney to assist with the probate process.
Step 3 – Petition the Court
Anyone seeking to apply for administration of an estate must contact the probate court with jurisdiction to obtain their appointment. A representative of the court will walk the personal representative through the appointment process, provide them with all required forms, and answer any questions they may have.
Personal representatives must submit a petition for appointment containing all the information outlined in TN Code 30-1-117 and should submit a formal death certificate along with the original will (if any) to the court. Additionally, personal representatives must include the fair market value of the estate’s property so the judge can determine the required bond amount.
Step 4 – Purchase a Surety Bond
Unless otherwise exempt, personal representatives must purchase and maintain a surety bond (exemptions outlined below).
What is the Purpose of the Tennessee Personal Representative Bond?
Tennessee requires personal representatives to purchase a surety bond as a prerequisite to being appointed as a fiduciary over an estate’s assets. The bond protects the estate's heirs, beneficiaries, and creditors from financial harm if the personal representative fails to abide by the regulations outlined in TN Code 30-1-201 et seq.
Specifically, the bond protects beneficiaries and creditors if the personal representative fails to adhere to all court orders or mismanages the estate’s assets. In short, the bond is a type of insurance that protects the interested parties of an estate if the personal representative violates their fiduciary duties.
What are the Responsibilities of a Personal Representative in Tennessee?
Personal representatives in Tennessee have several key responsibilities in managing the probate process and settling the deceased person's estate. The primary duties are outlined in Title 30, Chapter 2 of the TN Code and include the following:
- Gather and Inventory Assets: The personal representative must find and gather all assets of the deceased individual's estate within 60 days of appointment, including real estate, bank accounts, investments, personal belongings, and any other valuable items. It is their duty to create an inventory of these assets, detailing their descriptions and appraised values, which will be submitted to the probate court clerk.
- Notify Creditors and Pay Debts: Personal representatives must identify and notify all creditors of the deceased person's passing. The clerk of the court will create and provide a published notice to send out to creditors within 30 days of the appointment. However, it is the fiduciary’s responsibility to provide proper notice and allot a 12-month period for creditors to assert their claims against the estate pursuant to TN Code 30-2-310. Subsequently, the personal representative examines and validates these claims, settling legitimate debts using the estate's assets.
- File Tax Returns: The executor or administrator must file all required tax documents on behalf of the deceased individual and the estate, including the final income tax return of the deceased, any estate tax returns, and other tax filings as determined by the situation. They are responsible for accurate reporting and prompt payment of tax.
- Distribute Assets to Beneficiaries or Heirs: After settling all debts, taxes, and expenses, the personal representative will oversee the distribution of the remaining assets to the beneficiaries or heirs following the will's provisions or the laws for intestate estates under Title 31 of the Tennessee Code.
- Provide Accounting: The personal representative must thoroughly document all financial transactions associated with the estate. They are responsible for preparing an accounting report that comprehensively summarizes the estate's income, expenses, distributions, and other financial activities. This accounting report must be presented in court and furnished to interested parties, such as beneficiaries or heirs, upon request.
Do All Estates in Tennessee Require a Bond?
According to TN Code 62-3-603, the court may waive the bond requirement for personal representatives in Tennessee in the following situations:
- If the will explicitly waives the bond requirement
- If all estate heirs and beneficiaries agree to waive the bond requirement
- If the personal representative is the only heir to the estate
- The personal representative is a state agency, bank, or trust company that meets the requirements of TN Code 42-2-1005
How Does the Application Process Work With Jet?
Jet’s application process is simple and fast - our goal is 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
- Whether or not there is an ongoing business in the estate
- Whether or not the applicant owes any money to 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 will need to submit documentation from the court for review, specifically their application for appointment as fiduciary and the order from the court requiring the bond.
How Do You File a Personal Representative 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 completed bond with the probate court. Jet will also send the representative an electronic copy of their bond for reference.
How Do I Renew the Tennessee Personal Representative Bond?
When you purchase the surety bond, you will immediately receive a digital version of your bond with a receipt. Afterward, Jet will complete the bond form, attach our raised seal, and mail it to you. You simply need to sign the form and deliver it to the probate court overseeing your case.
Jet has provided a chart at the bottom of the page with a list of all probate court locations in the State of Tennessee and any available contact information for their offices.
How Long Do You Need the Bond?
The court will release the bond once the personal representative has paid all debts, distributed all assets, and provided a final accounting approved by the court. The personal representative must submit an annual accounting to the court if the estate settlement extends beyond a year.
After obtaining the notice of release, the personal representative simply needs to email a copy to [email protected] so that we can cancel the bond and issue any applicable refund due back to the personal representative.
Can the Tennessee Personal Representative Bond Be Canceled?
At Jet, we like to make things easy for our customers, and cancellation of your bond is no exception.
To cancel your bond, send us an email at [email protected] or give us a call. When we receive your request, we’ll contact the probate court to request a release. If the court accepts the request, we will cancel your bond and send you a refund for any unearned premium. We will refund any unearned premium charged after the first year of the bond on a prorated basis.
What Actions of a Personal Representative Can Lead to Surety Bond Claims?
Personal representatives have a critical role in the settlement of an estate and are relied on by the heirs, creditors, and the probate court to fulfill these obligations. Anyone appointed as a personal representative must adhere to all court orders and ensure they fulfill all responsibilities outlined in Title 30 of the Tennessee Code.
Some examples of potential actions that could cause a claim:
- Committing negligence, embezzlement, or fraud
- Misusing or misappropriation of estate assets
- Failing to submit inventory reports or account for all estate assets
- Buying or selling any part of the estate without court approval
- Acting outside of the powers specifically vested by the court
- Nonpayment of all estate taxes and debts
An heir or creditor to the estate with proven damages caused by the actions of the personal representative may file a claim against their bond. While most personal representatives act with good intentions, occasional mismanagement or errors in accounting can lead to significant challenges for well-intentioned fiduciaries. To avoid these issues, we highly recommend that personal representatives retain the services of an attorney to assist in managing the case.
What Happens if a Claim Is Filed on the Probate Bond?
Upon receiving court 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 court has requested a bond payout, we assess all documentation provided by the court and the fiduciary before paying out the claim. However, if a claim is valid and Jet pays the claimant, the personal representative must reimburse Jet.
County Court Locations in Tennessee
Below is a list of all the county courts located in the State of Tennessee, as well as their addresses and contact information.
| County Courthouse | Phone | Mailing Address | |
|---|---|---|---|
| Anderson County | (865) 457-6205 | 100 North Main Street, Suite 308 Clinton, TN 37716 | [email protected] |
| Bedford County | (931) 684-1672 | 108 Northcreek Drive, Suite 155 Shelbyville, TN 37160 | |
| Benton County | (731) 584-4435 | 1 Court Square, Room 206 Camden, TN 38320 | |
| Bledsoe County | (423) 939-0922 | P. O. Box 2198 Jasper, TN 37398 | |
| Blount County | (865) 273-5500 | 930 E Lamar Alexander Parkway Maryville, TN 37804 | |
| Bradley County | (423) 728-7209 | 155 N Ocoee Street, Room 203 Cleveland, TN 37311 | [email protected] |
| Campbell County | (423) 562-3496 | 570 Main Street, Suite 110 Jacksboro, TN 37757 | [email protected] |
| Cannon County | (615) 563-5936 | 200 West Main Street Woodbury, TN 37190 | |
| Carroll County | (731) 986-1932 | 99 Court Square #103 Huntingdon, TN 38344 | |
| Carter County | (423) 542-1812 | 801 East Elk Avenue Elizabethton, TN 37643 | [email protected] |
| Cheatham County | (615) 792-4620 | 100 Public Square, Suite 106 Ashland City, TN 37015 | |
| Chester County | (731) 989-7171 | 333 Eric Bell Drive, Suite C Henderson, TN 38340 | |
| Claiborne County | (423) 626-3284 | 1740 Main St. #201 Tazewell, TN 37879 | |
| Clay County | (931) 243-3145 | 100 Courthouse Square Celina, TN 38551 | [email protected] |
| Cocke County | (423) 623-3321 | 360 East Main Street Suite 103, Courthouse Annex Newport, TN 37821 | [email protected] |
| Coffee County | (931) 723-5132 | 300 Hillsboro Blvd., Box 8 Manchester, TN 37355 | [email protected] |
| Crockett County | (731) 696-5458 | One South Bell Street, Suite 5 Alamo, TN 38001 | [email protected] |
| Cumberland County | (931) 484-4731 | 60 Justice Center Dr., Suite 226 Crossville, TN 38555 | [email protected] |
| Davidson County | (615) 862-5980 | 1 Public Square, Suite 302 Nashville, TN 37201 | [email protected] |
| Decatur County | (731) 852-3422 | 22 West Main Street Decaturville, TN 38329 | [email protected] |
| DeKalb County | (615) 597-4360 | One Public Square, Room 302 Smithville, TN 37166 | [email protected] |
| Dickson County | (615) 789-7011 | 500 Spring Street Charlotte, TN 37036 | [email protected] |
| Dyer County | (731) 286-7818 | Dyer County Courthouse, Rm. 201 Dyersburg, TN 38024 | [email protected] |
| Fayette County | (901) 465-5219 | 16755 Highway 64, Suite 210 Somerville, TN 38068 | [email protected] |
| Fentress County | (931) 879-8615 | 140 Justice Center Drive, Suite 110 Jamestown, TN 38556 | [email protected] |
| Franklin County | (931) 967-2843 | 440 George Fraley Parkway, Box 4 Winchester, TN 37398 | [email protected] |
| Gibson County | (731) 855-7639 | 204 N Courtsquare Trenton, TN 38382 | [email protected] |
| Giles County | (931) 363-2620 | 1 Public Square Pulaski, TN 38478 | [email protected] |
| Grainger County | (865) 828-4436 | 270 Justice Center Drive Ste. 107 Rutledge, TN 37861 | [email protected] |
| Greene County | (423) 798-1742 | 101 South Main Street Greenville, TN 37743 | clerk&[email protected] |
| Grundy County | 602-506-3668 | 68 Cumberland Street, Suite 200 Altamont, TN 37301 | [email protected] |
| Hamblen County | (423) 586-9112 | 511 West Second North Street Morristown, TN 37814 | [email protected] |
| Hamilton County | (423) 209-6600 | 300 Courthouse 625 Georgia Avenue Chattanooga, TN 37402 | [email protected] |
| Hancock County | (423) 733-4524 | 1237 Main Street, Suite 104 Sneedville, TN 37869 | [email protected] |
| Hardeman County | (731) 658-3142 | PO Box 45 Bolivar, TN 38008 | [email protected] |
| Hardin County | (731) 925-8166 | 465 Main Street Savannah, TN 38372 | [email protected] |
| Hawkins County | (423) 272-8150 | 100 E. Main Street, Suite 316 Rogersville, TN 37857 | [email protected] |
| Haywood County | (731) 772-0122 | 100 South Dupree Avenue Brownsville, TN 38012 | [email protected] |
| Henderson County | (731) 968-2801 | 17 Monroe Street, 2nd Floor, Room 2 Lexington, TN 38351 | [email protected] |
| Henry County | (731) 642-4234 | PO Box 313 Paris, TN 38242 | [email protected] |
| Hickman County | (931) 729-2522 | 104 College Avenue, Suite 202 Centerville, TN 37033 | [email protected] |
| Houston County | 602-506-3668 | 4725 East Main Street Erin, TN 37061 | [email protected] |
| Humphreys County | (931) 296-2558 | 100 North Court Square Waverly, TN 37185 | [email protected] |
| Jackson County | (931) 268-9516 | 101 East Hull Avenue Gainesboro, TN 38562 | [email protected] |
| Jefferson County | (865) 397-2404 | 202 W. Main St. Dandridge, TN 37725 | [email protected] |
| Johnson County | (423) 727-7853 | 202 West Main Street Mountain City, TN 37683 | [email protected] |
| Knox County | (865) 215-2389 | 400 Main Street, 3rd Floor, City-County Building, Suite 352 Knoxville, TN 37902 | [email protected] |
| Lake County | (731) 253-8926 | 229 Church Street, Box 12 Tiptonville, TN 38079 | [email protected] |
| Lauderdale County | (731) 635-1941 | Courthouse, 100 Court Square Ripley, TN 38063 | [email protected] |
| Lawrence County | (931) 766-4182 | 240 W. Gaines St., NBU #13 Lawrenceburg, TN 38464 | [email protected] |
| Lewis County | (931) 796-3734 | 29 W Main Street Hohenwald, TN 38462 | [email protected] |
| Lincoln County | (931) 433-1482 | 112 Main Avenue South Room B-109 Fayetteville, TN 37334 | [email protected] |
| Loudon County | (865) 986-3505 | 12680 Highway 11 West, Suite 3 Lenoir City, TN 37771 | [email protected] |
| Macon County | (615) 666-2000 | 906 Highway 52 Bypass East LaFayette, TN 37083 | [email protected] |
| Madison County | (731) 423-6032 | Courthouse, Room 200, 100 East Main Street Jackson, TN 38301 | [email protected] |
| Marion County | (423) 942-2601 | 1 Courthouse Square, Suite 203 Jasper, TN 37347 | [email protected] |
| Marshall County | (931) 359-2181 | 201 Marshall County Courthouse Lewisburg, TN 37091 | [email protected] |
| Maury County | (931) 375-1307 | 41 Public Square Columbia, TN 38401 | [email protected] |
| McMinn County | (423) 745-1281 | 6 East Madison Ave Athens, TN 37303 | [email protected] |
| McNairy County | (731) 645-5446 | 170 West Court Ave. Room 205 Selmer, TN 38375 | [email protected] |
| Meigs County | (423) 334-5243 | Meigs County Courthouse, Suite 206, 17214 TN-58 Decatur, TN 37322 | [email protected] |
| Monroe County | (423) 442-2644 | 105 College Street, Suite # 2 Madisonville, TN 37354 | [email protected] |
| Montgomery County | (931) 648-5703 | 2 Millennium Plaza Suite 101 Clarksville, TN 37040 | [email protected] |
| Moore County | (931) 759-7028 | 196 Main Street, Suite 312 Lynchburg, TN 37352 | [email protected] |
| Morgan County | (423) 346-3881 | 415 North Kingston Street, Room 104 Wartburg, TN 37887 | [email protected] |
| Obion County | (731) 507-0999 | 6, Bill Burnett Circle Union City, TN 38281 | [email protected] |
| Overton County | (931) 823-2536 | 100 E. Court Sq., Ste. 100 Livingston, TN 38570 | [email protected] |
| Perry County | (931) 589-2217 | 121 Main St Linden, TN 37096 | [email protected] |
| Pickett County | (931) 864-3359 | 1 Courthouse Square, Suite 203 Byrdstown, TN 385479 | [email protected] |
| Polk County | (423) 338-4522 | 161 Industrial Access Circle, Room 110 Benton, TN 37307 | [email protected] |
| Putnam County | (931) 526-6321 | 421 E. Spring St., Suite 1C38 Cookeville, TN 38501 | [email protected] |
| Rhea County | (423) 775-7806 | 7824 Rhea Co. Hwy Dayton, TN 37321 | [email protected] |
| Roane County | (865) 376-2487 | 200 East Race Street, Suite 12 Kingston, TN 37763 | [email protected] |
| Robertson County | (615) 384-5650 | 501 South Main Street, Room 103 Springfield, TN 37172 | [email protected] |
| Rutherford County | (615) 898-7860 | 116 W. Lytle St., Suite 5101 Murfreesboro, TN 37130 | [email protected] |
| Scott County | (423) 663-2627 | 575 Scott High Drive, Suite C Huntsville, TN 37756 | [email protected] |
| Sequatchie County | (423) 949-3670 | 22 Cherry Street, 2nd Floor Dunlap, TN 37327 | [email protected] |
| Sevier County | (865) 453-5502 | 125 Court Ave, Suite 202E Sevierville, TN 37862 | [email protected] |
| Shelby County | (901) 222-3750 | 140 Adams Avenue, Room 124 Memphis, TN 38103 | [email protected] |
| Smith County | (615) 735-2092 | 322 Justice Drive, Suite 105 Carthage, TN 37030 | [email protected] |
| Stewart County | (931) 232-5665 | 225 Donelson Parkway, Main Floor Dover, TN 37058 | [email protected] |
| Sullivan County | (423) 323-6483 | 140 Blountville Bypass Blountville, TN 37617 | [email protected] |
| Sumner County | (615) 451-6036 | 100 Public Square, Rooms 400 & 401 Gallatin, TN 37066 | [email protected] |
| Tipton County | (901) 476-0207 | 220 Highway 51 N, Suite 2 Covington, TN 38019 | [email protected] |
| Trousdale County | (615) 374-2996 | 303 East Main St, Ste 1 Hartsville, TN 67074 | [email protected] |
| Unicoi County | (423) 743-9541 | PO Box 46 Erwin, TN 37650 | [email protected] |
| Union County | (865) 992-5942 | 901 Main Street, Suite 206 Maynardville, TN 37807 | [email protected] |
| Van Buren County | (931) 946-7175 | 121 Taft Drive Spencer, TN 38585 | [email protected] |
| Warren County | (931) 473-2364 | 111 South Court Square, Suite 105 McMinnville, TN 37110 | [email protected] |
| Washington County | (423) 788-1450 | 108 W Jackson Boulevard, Suite 2109 Jonesborough, TN 37659 | [email protected] |
| Wayne County | (931) 722-5517 | P.O. Box 101, Suite 201 Waynesboro, TN 38485 | [email protected] |
| Weakley County | (731) 364-3454 | P.O. Box 197 Dresden, TN 38225 | [email protected] |
| White County | (931) 836-3205 | 111 Depot Street, Suite 1 Sparta, TN 38583 | [email protected] |
| Williamson County | (615) 790-5428 | 135 4th Avenue South, Room 236 Franklin, TN 37064 | [email protected] |
| Wilson County | (615) 466-5311 | 134 South College Street, Room 200 Lebanon, TN 37087 | [email protected] |
