Probate / Fiduciary
Executor Bond
An executor bond is a probate bond required of the person named in a will to manage an estate, unless the will or the court waives it.
- Required by
- Probate courts
- Bond amount
- Set by whoever requires the bond. We confirm it.
What this bond guarantees
Used when an executor or fiduciary is named in a will to manage or distribute the assets of an estate and pay all claims and debts. The bond guarantees the executor will do so faithfully and lawfully. Heirs, beneficiaries, and creditors harmed by mismanagement can recover through the bond.
Who needs it
- Executors named in a will that does not waive bond
- Executors the court orders to post bond despite a waiver
- Out-of-state executors, where the court requires it
What the underwriter looks at
- Size of the estate
- Executor's personal credit
- Whether an attorney represents the estate
- Residency of the executor
Requirements vary by state and by who asks for the bond. Send us the request you received and we will confirm exactly what it calls for.
Common questions
The will says no bond is required. Am I done?
Usually. Both Alabama and Florida let a will waive bond. But an interested person can ask the court to require one, and the court can order it on its own if the estate is at risk.
Who is the bond payable to?
In Alabama it is payable to the probate judge. In Florida it is payable to the Governor and successors, approved by the clerk.