North Dakota Probate Bond |
AmeriPro Surety Bonds | 844-589-9732
North Dakota Probate
Probate is the process of proving or verifying a will. When it comes to the requirement to obtain a surety bond as a condition of a court-appointed position, the person is not always a decedent.
Therefore, in addition to a bond required of:
- Personal Representatives;
There is also the surety bond required of:
- Guardian of minors;
- Guardian of someone incompetent or incapacitated;
- Veterans Affairs requirements. What we write of regarding pricing and qualification will typically apply across the bond for all categories.
Qualifying and the Premium
While our agency provides the North Dakota probate bond in whatever amount the Court requires of you, up to and inclusive of a $100,000 surety bond requirement, we’ll issue this bond for you without a credit check.
Essentially, then, after the completion of the what we’ll need below and payment of the premium, your probate bond is issued to you immediately.
Regardless of the amount of surety bond required, we’ll need the following:
- A copy of the North Dakota Court Order mandating the amount of the surety bond. This order will also provide us with other needed information (your title, the name of the estate, the court’s name, the case number, etc.);
- A completed surety bond application. We’ll begin this with you over the phone. For probate bonds above $100,000 since there is a review by an underwriter and a credit check, you’ll need to sign your application and have it witnessed;
- Additional documentation as requested. Typically, a request for additional documentation will be for larger surety bond requirements.
After these documents are received, and the bond is approved, we’ll have your bond issued immediately after the receipt of the premium.
Amounts Greater Than $100,000
Probate bonds greater than $100,000 are reviewed by an underwriter and a credit check is required. To be approved good credit is required; otherwise, it becomes very difficult to obtain approval, if approval can be obtained at all.
Annual Renewal of Your Premium
The premium associated with the North Dakota probate bond is not a onetime payment, unless your surety bond is exonerated before the anniversary.
Rather, the bond renews annually on the anniversary of its issuance for as long as the Court requires surety.
Options exist to prepay your probate bond up to 3 years, which can offer you a significant savings over renewing annually. However, should the probate matter be resolved within a bond term, no premium refunds — either in full, or prorated, will be offered.
Amount of the Surety Bond; How It’s Determined
While the court will order (or has already ordered) the amount of surety bond required, according to North Dakota probate law, for estates of decedents, the bond amount will be equal:
- the estimated value of the personal estate;
- and the estimation of what the estate will earn within the next year.
Purpose Of Your Surety Bond Requirement
As a Personal Representative of an estate (any title, in fact), the Court is entrusting you with a sober duty. The probate bond serves as a financial guarantee that you will act lawfully, disinterestedly, and in accordance with all Court directives in the execution of your fiduciary responsibilities.
Your probate exists to protect others from the deleterious and financial consequences of a Personal Representative who fails to live up to their obligations, which in turn causes some financial harm or loss.
AmeriPro Surety Bonds is a surety bonds-only agency which provides probate surety bonds in all 50 states.
Our agency is also an online aggregator and provider of license and permit and court surety bonds nationwide.
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