Ohio Administrator/Executor Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose and Amount
As a condition of your court appointment as an administrator or executor of the estate of a decedent, the Ohio probate court may require you to furnish evidence of a surety bond.
The surety bond serves as a financial guarantee of your compliance with all Ohio laws in the administration of an estate which is in probate.
While required of you, the surety bond protects any heirs and/or creditors to whom the estate may be indebted.
The Ohio Revised Code, paragraph 2109.4, as amended, states that the surety bond required will be no less than the twice the amount of the value of the personal property in the estate, and the annual value of the rental property which will be under your control during the administration of said estate.
Qualifying and the Premium
Our agency offers you the Ohio administrator/executor bond in the amount required. Up to a $250,000 surety bond requirement, we typically also provide this surety bond without a credit check inquiry.
A surety bond requirement greater than $250,000, has an approval which is contingent upon review of your surety bond application. Good credit will be required; and you may also be required to provide supporting documentation and information.
Having retained legal counsel is highly advisable for high dollar probate surety bonds.
For any administrator/executor bond, our agency will need the following from you:
- A copy of the Ohio court order appointing you administrator/executor of the estate, and which states the probate surety bond amount required;
- A completed surety bond application. This is usually provided to you via Docusign. Docusign will allow you to electronically, sign, complete, and return the application to our agency;
- Upon approval of your surety bond, payment of the first annual premium.
Issuing Your Administrator/Executor Surety Bond
Our agency issues your administrator/executor surety bond upon payment of the premium. We will then mail these items to you for signing and filing by you or legal counsel.
Included with your surety bond will be a Power of Attorney form that you’ll file as well.
Annual Renewal of the Premium
The premium for your Ohio administrator/executor bond will renew annually on the anniversary of your bond’s issuance for as long as the presiding probate court requires surety.
Premiums paid are earned in full and are non refundable in whole or in part.
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