Mississippi Administrator Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Amount and Purpose
As a prerequisite to your appointment as either a Mississippi executor, or an administrator with will annexed, you may be required to obtain a surety bond before assuming duties as a fiduciary of the estate in probate.
The surety bond amount will be set by the presiding probate court. The amount is likely to include the value of the estate and may or may not include any projected income the estate may be expected to earn.
Your surety bond serves as a financial guarantee that you will follow all Mississippi laws and orders of the probate court in the administration of the estate.
Qualifying and the Premium
Our agency offers you the Mississippi administrator bond in the amount that the court requires of you. Up to a $250,000 surety bond requirement, we typically provide this bond without a credit check.
If you require an amount greater than $250,000, approval is subject to review of your surety bond application by an underwriter. Good credit and providing any additional information or documentation are also required.
For any administrator/executor/administrator with will annexed bond, our agency will need the following from you:
- A copy of the Mississippi court order appointing you as administrator/executor, etc., and which states the surety bond amount required of you;
- A completed surety bond application. The application can in many cases be sent to you via DocuSign. This will allow you to sign, complete, and return the application to us electronically;
- Upon review of your application and approval by our surety bond underwriter, payment of the first annual premium.
Issuing Your Bond; Annual Renewal of the Premium
Your Mississippi administrator bond is issued to you immediately upon payment of the first annual premium. Included with your surety bond will be a Power of Attorney form. These items will be mailed to you.
You will sign your surety bond as Principal, and then you’ll file it along with the POA to the presiding probate court.
The premium associated with your probate surety bond is not a one time only payment; rather, the premium renews annually on the anniversary of your surety bond’s issuance for as long as the court requires surety.
Premiums paid are earned in full and are nonrefundable, both in part or entirely.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, court, probate, and other surety bonds in Mississippi and all 50 states.
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