Texas Personal Representative Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose and Amount
As a condition of your appointment as a duly-appointed “personal representative”, the presiding Texas probate court may require you to submit evidence of a surety bond.
Why the surety bond requirement? According to Section 305.102 § e, as amended, the surety bond is a financial guarantee which:
- Protects the estate over which you have been appointed as personal representative;
- And protects the financial interests of any creditors of the estate.
According to the same statute, the amount of your surety bond will be set in an amount sufficient to cover the value of the estate, at the court’s discretion.
Although Texas law may or may not have legal distinctions, for purposes of obtaining your probate surety bond, the terms “executor” or “administrator” may be used interchangeably with “personal representative”.
Qualifying and the Premium
Our agency offers you the Texas personal representative bond in any amount (minimums, however, are applicable).
Up to a $250,000 surety bond requirement, we typically provide this surety bond without a credit check.
For an amount greater than $250,000, your application is subject to the following: a surety bond underwriter review; the determination of good credit; and providing any additional information and documentation requested.
Please note: For applicants who require a surety bond greater than $250,000, and who do not have good credit, we will not be able to secure approval.
For any personal representative surety bond, our agency will need the following from you:
- A copy of the Texas probate order stating appointing you as personal representative and stating the surety bond required as a condition of your appointment;
- A completed surety bond application by you. The application is usually sent to you via DocuSign. This will allow you to sign, complete, and return the application to our agency electronically;
- Upon review and approval of your surety bond application, payment of the first annual premium.
Issuing Your Personal Representative Bond; Filing
Your Texas personal representative bond and a Power of Attorney form are issued to you immediately upon payment of the first annual premium.
These items are then mailed to you. Upon receipt, you’ll sign your bond as Principal. You’ll also need to personally file or have legal counsel file your signed surety bond and Power of Attorney form to the presiding probate court.
Our agency does not need a copy of your filed surety bond.
Annual Renewal of the Premium
The premium for your Texas personal representative bond renews annually on the anniversary of your bond’s issuance for as long as the court requires surety.
Premiums are both wholly and partly nonrefundable; that is, premiums paid are earned in full.
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