Oklahoma Administrator/Executor Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Amount and Purpose
As a court-appointed Oklahoma personal representative/administrator or executor over the estate of a decedent, a condition of your appointment may be that you’re required to obtain a surety bond.
The probate surety bond serves as a financial guarantee for the court, any heirs, and/or creditors of the decedent’s estate, that you will observe your fiduciary responsibilities in accordance with Oklahoma law.
According to Oklahoma Title Code 58, §58171, as amended, factors included in determining the amount of the surety bond ordered will be the value of the personal property of the estate, plus any annual amount the estate is projected to earn from rents from real property. Additionally, other income generating factors may be considered as well.
Qualifying and the Premium
The Oklahoma personal representative/administrator/executor surety bond is offered in any amount required.
Up to a $250,000 surety bond requirement, we typically provide this bond without a credit check inquiry.
If you require an administrator surety bond amount greater than $250,000, your application is further reviewed by a surety bond underwriter. Included in this review will be a credit check inquiry. To be approved at these higher amounts, good credit will be required.
Additionally, you may be asked to provide supporting information or documentation. Large probate surety bond amounts are typically required to have legal counsel involved in the probate proceedings.
For any administrator/executor surety bond, our agency will need the following from you:
- A copy of the Oklahoma court order appointing your administrator (or any other title) and which states the surety bond amount required of you;
- A completed surety bond application. The application is usually provided to you via DocuSign. This will allow you to sign, complete, and return the application to our underwriters electronically;
- Upon approval of your probate surety bond, payment of the first annual premium.
Issuing Your Administrator/Executor Surety Bond
Your administrator surety bond and a Power of Attorney form are issued to you immediately upon payment of the first annual premium.
These documents are then mailed to you. As Principal, you will sign your surety bond. Thereafter, it is your responsibility to see that they are filed with the presiding Oklahoma probate court.
Annual Renewal of the Premium
The premium for your probate surety bond renews annually on the anniversary of your bond’s issuance.
Premiums paid are earned in full, and are wholly non-refundable.
Additionally, you’ll need to keep us informed as to when the court no longer requires your surety bond to be active.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, fiduciary and other surety bonds in Oklahoma, and all 50 states.
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