A probate surety bond in Idaho may be required of any of the following persons; and, noticeably, not all probate matters refer to the estate of a decedent:
What we write here with respect to qualifying and the premium refers to all categories across the board.
In Idaho, any person, either as a creditor or someone with an interest in an estate for $1000 or greater, may request a surety bond; Idaho Code 15-3-605.
It will be the court, however, who will mandate the amount of probate bond that you must purchase.
Up to and inclusive of a $100,000 surety bond amount, our agency offers the Idaho probate bond with streamlined processing. What this means for you is that after:
Our agency will issue this bond to you immediately, and without the delay involved with an underwriter review and without a credit score inquiry.
For amounts greater than $100,000 surety bond, there will be a credit check review by an underwriter, and applicants will need good credit to qualify through our agency.
The premium for the Idaho probate bond is not a onetime payment, but renews annually on the anniversary of its issuance, for as long as the court requires a surety bond.
Options exist to prepay your probate surety bond up to 3 years. The advantage in doing so is that it offers you a savings over year to year renewal of your bond’s premium, and at the same time saving you money.
Keep in mind that if your bond is exonerated by the court before the end of your term, a refunds will not be available.
Section 15-3-606 of the Idaho Code goes into detail regarding the purpose of your surety bond.
To summarize, the bond is a financial guarantee that you will act in a lawful, disinterested capacity of the estate to which you have been appointed (i.e. administrator, guardian, trustee, etc.).
AmeriPro Surety Bonds provides probate surety bonds in all 50 states. We also provide hundred of other license and permit bonds nationwide.
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