Tennessee Personal Representative Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Amount and Purpose
As a condition of your court-appointment over a decedent’s estate in probate, the Tennessee court may require you to obtain a “personal representative” surety bond.
According to Tennessee law, the amount of surety bond required of you will be:
- No less than the value of the estate;
- And no more than twice the value of the estate of which you’ll have control.
The surety bond serves as a financial guarantee for any heirs or creditors of the estate, that you’ll act in a lawful fiduciary capacity in the performance of your duties.
For purposes of meeting the surety bond requirement, what our agency writes of here is equally applicable to a surety bond required of a TN executor or administrator.
Qualifying and the Premium
Our agency offers the Tennessee personal representative bond in just about any amount (minimums will apply).
Up to a $250,000 surety bond requirement, we typically provide this bond without a prior credit check inquiry.
If you require an amount greater than $250,000, approval is subject to review by a surety bond underwriter. This review will include a credit check inquiry.
Besides the general expectation of you having legal counsel involved in this probate proceeding, you may also be asked to provide supporting information or documentation as a condition of approval.
For any personal representative surety bond, our agency will need the following from you:
- A copy of the Tennessee court document appointing you as personal representative, administrator, or executor, and which also states the surety bond amount required as a condition of your appointment;
- A completed surety bond application. Typically, the application is provided to you via Docusign. This will allow you to complete, sign, and return your application to our agency;
- Upon review and approval of your application, payment of the first annual premium
Issuing Your TN Personal Representative Bond; What To Do Next
Our agency issues your Tennessee personal representative bond and a Power of Attorney form to you upon payment of the premium.
When received by you in the mail, you’ll sign your bond as Principal. It will then be up to you or your legal counsel to file both your surety bond and POA form to the presiding Tennessee probate court.
Annual Renewal of the Premium
The premium associated with your Tennessee personal representative 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. There are no full or partial refunds.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, court, guardianship, and other surety bonds in Tennessee and all 50 states.
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