Florida Executors Or Administrators With Will Annexed Bond
AmeriPro Surety Bonds | 844-589-9732
Update 2020: AmeriPro Surety Bonds offers this probate bond up to and including a $100,000 surety bond requirement, without a credit inquiry.
The Florida executor or administrator with will annexed is a type of probate proceeding.
Despite the long name, its meaning is simple. This probate proceeding refers to:
- When someone has been named as an executor of an estate, but is unable to serve in that capacity;
- Or, when no one has been named as an executor of an estate.
In both cases someone is appointed – annexed – who is not named in the will as executor to serve as executor of the estate.
As per Statute 733.402, a surety bond amount to be decided by the court is also required.
Florida Executors Or Administrators With Will Annexed Bond: Purpose of The Bond Requirement
If you have been appointed executor of an estate, and are required to obtain bonding, the purpose of the bond is as follows:
The bond protects the estate, and any heirs of the estate, from acts of the theft, fraud, embezzlement, or criminal misconduct committed by an executor in the management of the affairs of the estate under probate.
As such, it is not an insurance policy for you; rather, it is a policy which you are required to purchase whose sole purpose (besides satisfying the court requirements) is to protect the estate.
Since you are acting in a fiduciary capacity over the estate’s holdings (this bond is a type of fiduciary bond), the bond is a financial guarantee that once the estate has been settled, the proper distribution of the estate will occur.
Florida Executors Or Administrators With Will Annexed Bond: Amount Required
The amount of surety bond that you will be required to purchase will be in an amount that is reflective of the estate’s gross value, any liens and amounts owed on the estate, creditors to the estate, and in value of all tangible goods in the estate.
The amount will be established by the court in a form of a court order.
To accomplish providing the Florida probate you require, our agency will need a copy of any court order.
The Cost of this Probate Bond;
The cost of this probate bond will be in an amount which is reflective of the following criteria:
- The amount of probate bond you are required to purchase;
- You personal financial standing as revealed in an application which we will provide for you – and, can take over the phone, if you prefer;
- Your credit score.
Our agency will work on your behalf to secure the best premium pricing we can to fit your circumstances.
Annual Renewal of the Premium
For as long as the estate is in probate, and for as long as the surety bond is required, the premium of the bond will renew annually.
About AmeriPro Surety Bonds
AmeriPro Surety Bonds is a surety bonds-only agency.
We provide probate, and other fiduciary bonds. We also provide all types of court surety bonds, license and permit, and contractor bonds in Florida.
Our agency also provides surety bonds nationwide.
We will work for you in what may seem like a tedious process of obtaining the bond you need (it really isn’t so bad) – and we will be with you every step of the way.