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:
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.
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.
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:
Our agency will work on your behalf to secure the best premium pricing we can to fit your circumstances.
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.
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.