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Kentucky Probate Bond

The Commonwealth of Kentucky will typically require a probate surety bond for those who are acting in a fiduciary capacity. There is no guesswork: You’ll know, because the court will tell you it is required. Please call AmeriPro Surety Bonds today at 844-589-9732.

Kentucky Probate Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Probate Statutes – Kentucky

 

 

 

Kentucky Revised Statutes, Chapter 395, directly deal with probate and the related surety bond.

While the term probate generally refers to the estate of a decedent, guardians of minors, and guardians of someone incapacitated or incompetent, may also be required to obtain a probate bond as a condition for being appointed as a legal custodian.

Typically, the surety bond is required of someone acting as a Personal Representative of an estate or the assets thereof although this is not exclusively so.

 

 

 

Qualifying For this Surety Bond and the Amount Required

 

 

 

For any amount and for any type of probate surety bond as discussed above, up to -and including the $100,000 amount – our agency issues this bond for you immediately.

What this means for you is that after completion of a surety bond application – -which we can take from you over the phone — and payment of the premium, the Kentucky probate surety bond is automatically generated.

There is no credit score inquiry nor application review by an underwriter.

Amounts greater than $100,000 – yes; even if by $1 — will require review of by an underwriter. As part of the underwriting process, a credit check is also required. For amounts greater than $100,000, applicants will need to have good credit to qualify for this bond through our agency.

The amount of the surety bond required will be determined by the probate court. Typically, the probate bond is at least equal to the value of the estate. Sometimes courts also estimate what an estate is expected to earn within a 12 month period when determining surety bond amounts required.

 

 

 

Duration and Premium Payment Options

 

 

 

A standard Kentucky probate bond is issued for one year. Thereafter, the bond and premium must likewise be renewed. Options exist to prepay this bond for up to 2 or 3 years.  Besides lengthening the time between renewals, prepayment of a probate surety bond offers you a savings vis-a-vis annual renewals. Please discuss with us for further details and breakdown amounts.

 

 

 

Purpose of Your Surety Bond

 

 

 

As a personal representative, trustee, or guardian, you are acting in a fiduciary capacity. The probate surety bond ensures the court, any heirs, and those for whom you act as guardian, that you will manage the affairs of the estate properly, objectively, and without self-interest.

The surety bond, while required of you, is for the benefit of these others. Ultimately, if a claim were ever paid against your surety bond, you would be required to reimburse the surety for all costs and fees involved.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Kentucky.

Our agency also provides surety bonds nationwide.

Please call our agency today at:

 

 

 

844-589-9732

 

 

 

Or, you may fill out the form below and an agent will contact you.

 

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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