Oregon Probate Bond | AmeriPro Surety Bonds | 844-589-9732
Probate may be defined as “proving a will”.
In cases where there is no will, that is, when a person dies “intestate”, the probate process is sometimes required to determine how items, property, and money are to be equitably distributed to any heirs.
Probate may also be required when a potential heir or heirs dispute(s) how any property, money or items are to be divided.
Oregon Probate Process
When an estate is in probate, a representative for the estate is sometimes designated.
It is the responsibility of the estate’s representative to properly manage the affairs of the decedent.
Responsibilities of the representative can include the managing of any funds in probate; the upkeep of property and the payment for that upkeep; and perhaps dozens of different estate-related matters.
Oregon Probate Bond: The Amount
Prior to formal designation as an estate’s representative, a person may be required to obtain an Oregon probate bond by the court.
The amount of the surety bond will be determined by the Oregon probate court.
Factors for the amount of an Oregon probate bond amount will include:
- The income that may accrue from the estate while the estate is in probate;
- The overall value of the estate;
- Any payments or debts which are an obligation of the estate;
- Tax payments made or owed by the estate.
Representatives of an estate, are, however, always allowed to request a lesser probate bond amount.
An Oregon probate bond may be altogether waived when all parties agree to waive the surety bond requirement, and the court agrees with the waiver request.
In Oregon, even if the estate’s representative is the sole heir, he or she may still be required to obtain a probate bond.
Oregon Probate Bond: The Premium and Duration
The premium required for an Oregon probate bond will be contingent on the following factors:
- The representative of the estate’s financials;
- The amount of the probate bond;
- The applicant’s credit score.
Premiums for an Oregon probate bond renew on annual basis for as long as the estate remains in probate.
AmeriPro Surety Bonds will work with you to find the best pricing for your probate surety bond, regardless of your credit score.
About AmeriPro Surety Bonds:
AmeriPro Surety Bonds is a surety bonds-only company which provides court, fiduciary, and license and permit surety bonds throughout Oregon.
We also provide surety bonds in all 50 states.
We thank you for choosing our agency, and we are confident that you won’t regret your decision.
We work for you.