Yes and No. If the agent is able to get a premium for a bond, then they may have a carrier that will issue one. Most agents don't sell these types of bonds. Even if your agent is able to quote the bond, then they're probably not experts with bonds for probate court. Triest Agency specializes in these types of bonds. We understand all the angles. We have not one but five major companies that offer bonds which gives us the ability to shop rates and terms. If you want choices. Call Triest Agency. The Bond Experts since 1903.
We recommend that you ask the court to have the premium paid by the estate. There is no reason to pay for the cost of the bond out of your own pocket even if you're being paid to be the administrator. Sometimes, it is as simple as asking the judge to issue an order allowing you to be reimbursed for the bond premium. Call us. We can help with your questions. 843-556-6232
The court is responsible for making sure that the money is secure. You may be asked to be a guardian, executor or personal representative for someone that you know. It could be a relative that is not able to handle their own finances or an estate of a relative. Most people don't understand why they would need to be bonded if you're a close family member. The rub is that you may be a close family member but unfortunately even family members have been known to misappropriate the money that they're asked to manage. By being bonded, the money is protected.