Utah Personal Representative Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Purpose and Amount
As a condition of your Utah court-appointment as personal representative, the court may require you to show evidence of filing the ordered surety bond amount.
According to Utah Code Title 75-3-605, as amended, whenever an heir or creditor of the decedent’s estate has a financial interest exceeding $5,000, a surety bond is required.
The surety bond is a financial guarantee which protects the interests of such heirs or creditors.
While the amount of the surety bond is to be set by the Utah probate court, it will typically at least be in amount commiserate with the value of the decedent’s estate; or, at least, that portion of the estate over which you’ll have control as personal representative.
What we write of here in terms of obtaining a personal representative bond is equally applicable to the surety bond required of a Utah executor or administrator of an estate.
Qualifying and the Premium
The Utah personal representative bond is offered to you in just about any amount. Up to a $250,000 surety bond requirement, we also typically do so without a credit check inquiry.
An amount greater than $250,000 is reviewed by a surety bond underwriter. This review will include a credit check inquiry. To be approved for an amount greater than $250,000, good credit will be required.
You may also be asked to provide supporting documentation or information for these higher amounts. As a general rule, larger probate surety bonds are typically expected to have legal counsel involved in some capacity.
For any personal representative bond, our agency will need the following from you:
- A copy of the Utah court order appointing you “personal representative”, executor, or administrator, and which states the surety bond amount required of you;
- A completed surety bond application. The application is typically provided to you via Docusign. This will allow you to complete, sign, and return the application to us electronically;
- Upon review and approval of your surety bond request, payment of the first annual premium.
Issuing Your Surety Bond
Our agency issues your surety bond to you immediately upon payment of the first year premium.
Included with your surety bond, which you’ll sign as Principal, will be a Power of Attorney form.
It will be your responsibility or that of your legal counsel to file the documents received with the presiding Utah probate court.
Annual Renewal of Your Premium
The premium for your Utah 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; neither partial or full refunds are offered.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…