Pennsylvania Personal Representative Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose and Amount
As a Pennsylvania court-appointed personal representative over the estate of a decedent, you are tasked with important fiduciary duties.
While an estate is being settled in probate, you serve as overseer. From working with heirs, creditors, and the overall management of the estate, the court wants to ensure that the estate is protected from any malfeasance.
Thus, a surety bond is required of you; and its benefit is specifically for the protection of the estate.
In Pennsylvania, the amount of surety bond for a personal representative is not a predetermined formula. Rather, the court sets the amount of surety bond needed according to the value of the estate which will be in your control. The court may also include any anticipated earnings the estate is projected to earn when determining the amount of surety required.
You may hear the terms “personal representative”, “administrator” or “executor”. While there may be legal distinctions in the use of these terms, for purposes of securing your surety bond, these terms may be used interchangeably.
However, guardians/conservators are not the same; and our agency has differing requirements for this surety bond.
Qualifying and the Premium
Our agency offers you the Pennsylvania personal representative bond in any amount that the court requires of you.
Up to a $250,000 surety bond amount, we typically provide this surety bond without a credit check inquiry.
If your requirement is greater than $250,000, approval is subject to an underwriter review and the determination of good credit on your part. Additionally, you may also be asked to provide supporting information or documentation as a condition of approval.
But for any personal representative bond, our agency will need the following from you:
- A copy of the Pennsylvania court order appointing you personal representative/administrator/executor and which states the surety bond amount required of you;
- A completed surety bond application, which is usually provided to you via DocuSign. This will allow you to complete, sign, and return the application to our agency electronically;
- Upon approval of your personal representative surety bond, payment of the first annual premium.
Issuing Your Surety Bond; Filing
Upon receipt of at least the first annual premium, your personal representative bond is issued to you.
Your surety bond and a Power of Attorney are mailed to you. Upon receipt, you’ll sign your bond as Principal. It will be your responsibility or that of legal counsel to see that your bond is filed in a timely manner with the presiding court.
Annual Renewal of the Premium
The premium for your personal representative surety 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 whole and in part.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in Pennsylvania and all 50 states.
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Or, you may fill out the form below and a Surety Agent will contact you.