The court requires the client and legal counselors to obtain a surety bond as a condition of a court appointment of an estate. An administrator, executor, guardian, personal representative, veterans and others may be required to serve the probate bond under the Florida Code, 733.402.
The bond gives a financial guarantee for the Court (and any heirs) that the duties will be performed in accordance with all laws and directives of the presiding Court.
There are agencies offering the Amripro FL probate bonds in any amount required and some also offer the bond without a credit check inquiry. To issue the bond the agencies ask the client for a copy of the Court Order to obtain surety and also get a clear idea of all the important information needed to be written on the bond. If there is no formal court order then the client will be responsible to provide all the information that is missing.
The surety bond application is quite short, thus most of the agencies prefer to do it over the phone. It is only when the application needs to be signed by the client and a witness, they are both called in the agency’s office after fixing an appointment.
If the surety bond is greater than $100,000 the application needs to be by an underwriter that includes doing a credit check inquiry.
A bond of over $100,000 also requires a good credit. A probate bond is immediately issued once the surety bond is approved and premium is paid. Agency signs the surety bond and a Power of Attorney form as surety. Once the receipt and acknowledgement is received the client signs the bond as Principal.