Probate Bond Requirement

You (or the executor) may be required to post a probate bond, which is a financial guarantee that the executor of an estate will probably manage and distribute the assets of the estate. In this case, the executor pays a third party to guarantee the value of the estate.

The purpose is to protect the estate from mistakes, fraud, or theft.

In some cases, the bond fee can be reimbursed later on from the estate.

When is a probate bond not needed

• If there is a valid will in place that specifically notes that a bond is not needed (common if the executor is a beneficiary)
• If a financial institution is made the acting fiduciary
• If the judge or state law does not require a bond