Vermont Personal Representative Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Amount and Purpose
In Vermont, a personal representative statutorily refers to any and all of the following: administrator, executor, successor personal administrator, or special administrator, over an estate of a decedent.
A condition of your appointment is that you provide a surety bond in the amount ordered by the Vermont probate court.
The surety bond is a financial guarantee that you’ll comply with Vermont law, particularly paragraph 906 in the link above.
While the Vermont probate court will decide the amount of surety bond required (and may have already done so if you’re reading this), that amount is likely to be at least equal to the value of the estate over which you’ll have control as personal representative.
Qualifying and the Premium
Our agency offers you the Vermont personal representative bond up to a $250,000, without a prior credit check. Minimum amounts will apply.
If you require a surety bond greater than $250,000, approval is subject to a review by a surety bond underwriter. This review will include a credit check. Besides having good credit, you may or may not also be asked to provide supporting information or documentation.
Larger probate-related surety bond amounts generally will have the expectation of your having retained legal counsel as a condition of approval.
All personal representative surety bonds will need the following:
- You’ll need to provide our agency with a copy of the Vermont court order appointing you personal representative (or any related designation) and which states the surety bond required of you;
- A completed surety bond application. The application can be sent to you via Docusign. This will allow you to sign, complete, and return the application to us electronically;
- Upon approval of your application, payment of the first annual premium.
Issuing Your Personal Representative Bond
Your completed surety bond is issued to you for filing immediately after receipt of the first annual premium.
You will sign your bond as Principal, and then file it along with the Power of Attorney form. Both of these items will be sent to you.
Our agency will not need a copy of your signed bond; however, we would like to know about any changes concerning your bond (i.e. if it’s no longer needed).
Annual Renewal of the Premium; No Refunds
The premium for your Vermont personal representative bond renews annually on the anniversary of the date of issuance of your bond, for as long as the presiding court requires surety.
Premiums paid are earned in full and no full or partial refunds are offered.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in Vermont and all 50 states.
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