Louisiana Personal Representative Bond
AmeriPro Surety Bonds | 844-589-9732
Probate Surety Bond; Amount and Purpose
A Louisiana court-appointed position as personal representative may also be called a position of an administrator (administratrix), or executor of an estate of a decedent.
As a condition of your appointment, the court may require you to obtain a surety bond. Typically, the bond will be at least the value of personal property of the estate, and may or may not include any projected income the estate is expected to earn within a given period.
Besides being a condition of your appointment, the surety bond is a financial guarantee for the court, creditors, and any heirs to the estate, that you will perform your fiduciary responsibilities in accordance with Louisiana law and all lawful court directives.
Qualifying and the Premium
Our agency offers you the Louisiana personal representative bond in the amount that the court requires of you.
Up to a $250,000 surety bond amount, we also do so without a credit check inquiry. If you require a personal representative bond greater than $250,000, approval is subject to review by a surety bond underwriter. This review will include a determination of “good credit”.
A condition of your approval for these higher bond amounts may also be that you provide any additional documentation or information requested.
For any personal representative bond, regardless of the amount required, our agency will need the following from you:
- A copy of the court order appointing you personal representative/administrator/executor, and which states the surety bond amount required of you;
- A completed surety bond application. To facilitate ease and timeliness of completion, the application may be sent to you via DocuSign;
- Review of your completed application;
- Upon approval of your application, payment of the first annual premium.
Our agency issues your surety bond and a Power of Attorney form upon payment of the first annual premium. Upon receipt, you’ll sign your bond as Principal and then file both of these items with the presiding Louisiana probate court.
Annual Renewal of the Premium
The premium associated with your Louisiana personal representative bond renews annually on the anniversary of your bond’s issuance. This is for as long as the court requires surety.
Premiums paid are earned in full, are nonrefundable, either in whole or in part.
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