North Carolina Probate Bond |
AmeriPro Surety Bonds | 844-589-9732
Update July 2019: AmeriPro Surety Bonds now offers a North Carolina probate, guardian, trustee, or administrator surety bond for a flat fee — with no credit inquiry — for any amount up to $100,000. This means that the probate surety bond is issued to you immediately upon completion of an application and payment of the premium! Amounts above $100,000, will undergo standard underwriting; however, you will still qualify for great premium rates.
Probate – North Carolina
Probate is commonly referred to as the process as “proving a will”. In some cases, the court or heirs may demand or request that an administrator obtain a probate surety bond.
AmeriPro Surety Bonds will help you to obtain a North Carolina probate surety bond to satisfy the court’s requirements.
North Carolina Probate Bond: Its Purpose
If you are the appointed executor of a North Carolina decedent’s estate and are required to furnish evidence of a current surety bond, the purpose should be clear.
The bond serves as a financial guarantee that you will act in only in the best fiduciary capacity for the estate and the benefit of any heirs or additional heirs.
The bond is a guarantee that upon the final settlement and resolution of the probate proceedings, the heirs will receive the amount of the estate that they are entitled to receive.
North Carolina Probate Bond: Amount Required
§ 28A-8-2 of Article 8 of the North Carolina statutes gives the formula used to determine the amount of the surety bond required; however, the amount that you will be (or have been required to obtain) will be determined by means of a court order.
As part of the underwriting process for your surety bond, we will need copies of all relevant court documents (particularly those relating to the surety bond).
Qualifying for this Bond
The process of qualifying for the North Carolina probate bond requires a detailed application, evidence of financial standing, and a credit check.
You may be asked to provide information regarding the following:
- Income and the source or sources of the same;
- Net worth ( broadly defined as your assets minus your liabilities);
- Whether or not you have any unsatisfied judgments or tax liens or are party to any litigation;
- Whether you are involved in a current bankruptcy (this would likely prevent you from qualifying for the bond);
- Value of investments, the types of investments and where such investments are held;
- Real property owned and the location of the same;
- Whether you are a homeowner;
- Business interests,
- Other information as may be deemed applicable.
Premium: Annual Renewal and Non-Refundable
In addition to the above, there is the price of the North Carolina probate bond.
There are several things to note about the NC probate bond:
- The premium required is determined based on the size of the surety bond;
- The premium is nonrefundable;
- The premium renews annually for as long as the bond is active and required by the court or heirs; it is not a onetime payment.
The bond’s premium will be determined largely by your credit score.
AmeriPro Surety Bonds is a surety bonds-only agency which provides probate bonds in North Carolina and nationwide.
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