New York Administrator of a Deceased's Estate
New York Administrator of Estate Surety Bond amount is set by the
court and is based on the value of the estate
Administrator and Executor bonds (also called Probate Bonds) are required by county courts in New York of persons appointed to handle a deceased's estate. These bonds generally guarantee that all the estate debts will be satisfied and that the remaining assets will be properly distributed to the appropriate heirs. Because of the complexities involved, the surety usually requires that the applicant obtain the assistance of an attorney, although we do have markets that will consider bonds for qualified applicants without an attorney. Bond amounts are determined by the court. Bond premiums must be paid annually until the estate is properly settled.
Executor Bond - Required when the deceased left a Will and named someone in the Will to serve as executor. The surety will usually want to see a copy of the Will to determine to complexity of handling the estate in New York.
Administrator Bond - Required when the deceased died intestate (without a Will). The court will usually appoint one of the primary heirs to serve in this capacity. Assets should be dispursed in accordance with the state's laws in New York.
Trustee Bond - Usually required when a deceased leaves a Will and designates to leave some assets "in trust" to a beneficiary. In all cases, the surety must review a copy of the Trust.
Sample Probate Bond Pricing in New York:
In addition to the applicants credit report, there are many other factors that are taken into consideration when pricing Administrator bonds in New York. We provide the examples below to give you an idea of what qualified applicants should expect to pay. We find the best possible price for your surety bond given your particular qualifications.
Click on the No Obligation Quote button to complete our simple, one-page online bonding application.
Completing our application allows the underwriters at BondAbility to provide you with a specific quote for the exact bond you need. After you submit our online application, we will respond with your personalized quote within the hour!
You are applying for a New York Administrator of Estate Surety Bond.
A free quote will be emailed to you within minutes!