Probate is the process of determining a will. Included in a wider definition of probate as it concerns surety bonding are guardians for the living (whether a minor or someone incapacitated).
In Rhode Island, a probate surety bond may be required of:
What we write of premium for your surety bond and qualifying will apply across the board in Rhode Island.
Up to and inclusive of a $100,000 surety bond amount, our agency provides you with the Rhode Island probate bond immediately and with no credit check.
What we will need, however, are the following:
As an example, a $100,000 Rhode Island probate bond will have a premium of just $500 annually through our agency.
Amounts Greater than $100,000
Applicants for probate surety amounts greater than $100,000 will undergo a credit check, and to be approved, good credit will be required. Additionally, you will also need to sign and have witnessed (but not notarized) your surety bond application before its submission is complete.
In either case, once your probate surety bond is approved, and the premium is paid, our agency issues the bond to you immediately. You will receive your original bond, which you’ll also sign, and which will have our signature.
The premium for your Rhode Island probate bond renews annually on the anniversary of its issuance; it is not a onetime payment.
Options exist to prepay your surety bond up to 3 years.
Doing so will save you over annual renewals of your premium and lengthen the time between renewals. However, should you no longer require a probate surety bond within that effective period, no refunds will be offered.
The amount of your probate bond will, of course, be determined by the court which has jurisdiction over this matter, and is based on the value of the estate, and likely any future projected earnings.
The probate bond’s purpose is a financial guarantee that you will act in an ethical, disinterested and impartial manner in the administration of the estate.
Title 33 discusses the different types of probate matters in Rhode Island.
The surety bond is for the benefit of any heirs, minors, veterans, who suffer some loss or harm due to mismanagement or other unlawful activity by bonded person.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide probate surety bonds in all 50 states.
Our agency is also a provider of license and permit, court, and other surety bonds nationwide.
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