Colorado Probate Bond | AmeriPro Surety Bonds |
Probate And Related Court Matters — Colorado
Probate is broadly defined as the process of proving a will. But matters before a probate court don’t necessarily only relate to the estate of a decedent.
Guardians and other related concerns are also heard in probate court.
Therefore, our agency offers you the following types of probate-related surety bonds:
- Personal Representatives;
- Guardian of minors;
- Guardian of incompetents.
Amount of a Probate Surety Bond Required:
The probate court which requires you to obtain the Colorado probate bond will inform you by means of a court order of the amount of surety bond required.
According to Colorado law, the amount of the probate bond will be equal to the value of the estate and the income the estate may expect to earn within the next year.
For other types of bonds, the amount of the probate surety bond required will likely be at least in value to the amount of money at hand.
AmeriPro Surety Bonds now offers instant qualification for the Colorado probate bond for amounts up to $100,000. There is no credit check or standard underwriting involved. For probate bonds up to $100,000, after the completion of a surety bond application and payment of the premium, the bond is issued to you immediately.
The probate bond is issued for a term of one year. Probate surety bonds renewal annually. Your probate bond can be prepaid for 2 or 3 years, thereby offering you a savings over year to year premium.
Amounts over $100,000 will typically involve a application, and a credit score check. Depending on the size of the bond, you may also be asked to provide a financial statement (we’ll provide you with this form if it is required).
The Purpose of this Bond
Whether you require the a probate bond as an administrator of an estate or you are a guardian of a minor or someone who is incapacitated, the probate bond serves as a financial guarantee, on their behalf, that you will act in manner appropriate and fitting to your duties.
The bond protects them from losses caused by you due to negligence or malfeasance.
But as principal of this bond, should any claim be paid against your bond, you are required to indemnify the surety for all losses.
AmeriPro Surety Bonds is a surety bonds only agency which probate and guardian surety bonds in Colorado and nationwide. Our agency also provides license and permit, court, and fiduciary bonds.
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