(844) 589-9732

New Jersey Personal Representative Bond

February 4, 2021

AmeriPro Surety Bonds offers you the New Jersey personal representative bond. Typically, up to a $250,000 surety bond requirement, we'll do so without a credit check. Please call our agency today at 844-589-9732.

New Jersey Personal Representative Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Surety Bond; Purpose and Amount

 

 

 

As a condition of your court appointment as a New Jersey personal representative/administrator/executor (what we write here is equally applicable to any of these court designations) of a decedent’s estate, you may be required to obtain a surety bond.

According to New Jersey’s Revised Statutes https://law.justia.com/codes/new-jersey/2015/title-3b/section-3b-15-1/ [LINK], as amended, your surety bond is a financial guarantee of your compliance with all rules and duties incumbent upon you as personal representative.

While the amount of the personal representative/administrator bond will be determined by the court, it is likely to be at least the value of the property over which you have been appointed.  

A further consideration the court may use in determining the amount of surety required may be any anticipated income the estate may earn within 12 months, assuming this latter is applicable. 

 

 

 

Qualifying and the Premium

 

 

 

Our agency offers you the New Jersey personal representative bond in any amount.  Up to a $250,000 surety bond requirement, we also typically provide this bond without a credit check inquiry.

If the court requires a surety bond of you greater than $250,000, approval is subject to review by a surety bond underwriter.  This review will include a credit check inquiry.  To be approved for these higher limits, good credit will be required.  You may also be asked to provide supporting documentation and information as a condition of approval. 

For any New Jersey personal representative surety bond, our agency will need all of the following from you:

  • A copy of the New Jersey court order (typically a Surrogate’s Court order) appointing you as personal representative/administrator/executor and stating the surety bond amount required of you;
  • A completed surety bond application.  We’ll typically offer this application to you via DocuSign.  This will allow you to sign, complete, and return the application to us electronically;
  • After review and approval of your completed application, payment of the first annual premium.

Our agency issues your probate surety bond and a Power of Attorney form to you after payment of the first annual premium.

You’ll sign your personal representative bond as Principal.  Thereafter, you or your legal counsel will file this bond with the presiding New Jersey probate court.

 

 

 

Annual Renewal of the Premium

 

 

 

The premium associated with your New Jersey personal representative bond renews annually on the anniversary of your bond’s issuance for as long as the court requires surety.

Premiums paid are earned in full and are nonrefundable both in part and in whole.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency.  We provide license and permit, court, fiduciary, and other surety bonds in New Jersey and all 50 states.

Please call our agency today at:

844-589-9732

Or, you may fill out the form below and a Surety Agent will contact you...

 

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