Probate is the sometimes long, and often tedious process of “proving a will”. While probate is almost always associated with the estate of a decedent, others can be required to post a related surety bond.
These others include:
These are in addition to the more traditional probate surety bonds required of:
What our agency writes here in terms of qualifying and premium amount will on balance, apply across all categories of probate surety bonds.
The court will determine the amount of surety required, which is typically in at least the value of an estate. Some courts also consider what an estate is projected to earn in determining the amount of surety required.
For any New Hampshire probate bond up to and inclusive of a $250,000 surety bond amount, our agency offers this bond to you immediately and without a credit inquiry.
What will we need to be able to issue your bond in these cases are the following:
A short verbal application where, in addition to the basics, we’ll also ask:
To give you an idea of premium, a $100,000 New Hampshire probate bond will have an annual premium of $400.
Amounts Greater than $100,000
For a New Hampshire probate surety bond greater than $250,000, the application will need to be signed and witnessed. Probate surety bonds in these cases are submitted to an underwriter for further review.
Additionally, there is also a credit inquiry. To be approved for a probate amount above $250,000, good or acceptable credit will be required.
The premium associated with a New Hampshire probate bond is not a onetime payment, but rather, it is renewable on the anniversary of your surety bond’s issuance.
Options exist to prepay your probate surety bond up to 3 years. Doing so offers you a savings over annual renewals; however, bear in mind that should the court in the meantime determine that the probate/guardian surety bond is no longer required, refunds are not granted or prorated.
Purpose of Your Surety Bond
As stated by the New Hampshire Judicial Branch, a probate bond, being both a court and fiduciary surety bond, is a financial guarantee that you will replace any misused or misappropriated funds during your time as an administrator of an estate.
More broadly, the New Hampshire probate bond is a financial guarantee that ensures you will act in a disinterested, objective, and impartial manner in the managing the affairs of an estate.
AmeriPro Surety Bonds is a surety bonds only agency which provides probate surety bonds nationwide.
We are also a provide of license and permit bonds in all 50 states.
Please call our agency today at: