Probate is broadly defined as the process of proving a well. The Vermont judiciary further defines it as “...a safety measure for the distribution of property when someone dies.”
If you are reading this, you may have recently received a Court Order to obtain a probate surety bond. You may have also been presented with a Vermont Estate Administration Bond form.
In Vermont, as elsewhere, a surety bond may be required of the following persons:
In addition, a surety bond may be required of persons who are acting in a fiduciary capacity for living persons, such as:
Our agency has the ability to provide a Vermont probate bond in whatever amount required. Up to a $100,000 surety bond requirement, applicants for this surety bond are automatically approved as there is no credit inquiry.
The application in such cases will be taken from you over the phone.
Regardless of your Vermont probate surety bond amount required, to obtain your bond, we’ll need the following from you:
Upon approval of whatever bond amount and payment of the premium, our agency issues your bond to you immediately.
The bond will include a Power of Attorney form; and after having signed your original bond, you’ll present all documents to the Court of the Clerk for filing.
The premium associated with your Vermont probate bond is not a onetime payment. The bond renews annually on the anniversary of its issuance for as long as the Vermont probate court requires bond.
Our agency will also offer you the option to prepay your premium up to 3 years, thereby offering you a savings over annual renewals.
However, should your case resolve itself before the term of your bond, no refund, either prorated or in full, will be offered.
As stated on the Vermont Judiciary website, your duties as an Executor or Administrator include paying off all debts owed by the estate, and distributing the estate’s proceeds to any heirs.
The surety bond, therefore, serves as a financial guarantee that you lawfully and objectively discharge all duties in connection with your appointment as Executor or Administrator of the estate.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide probate, license and permit, and other Court surety bonds in Vermont.
Our agency is also a provider of surety bonds nationwide. Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you...