Bonds We Offer

Probate Surety Bonds

Need Contract Bond Quickly

The Problem

BONDS FEEL LIKE ONE MORE BURDEN AND HASSLE

When you need a bond, you want it underwritten and completed fast. But, you also want it at a fair price. At Cornerstone, we strive to give you both. Plus, you get a customer experience that’s the best in the industry.

WHEN YOU NEED BONDS FAST, WE CAN HELP

Our Bond Offerings

Probate Bonds

Also known as fiduciary bonds or estate bonds, are a form of surety bond required by the court. They are designed to protect the estate and its beneficiaries from potential mismanagement or fraudulent activities by the appointed fiduciary, such as an executor, administrator, or guardian. Essentially, a probate bond acts as a financial guarantee that the fiduciary will perform their duties ethically and in accordance with the law.

 

Types of Probate Bonds

There are several subtypes of probate bonds, each catering to different fiduciary roles within the estate administration process:

  1. Executor Bonds: These bonds are required when an executor is appointed to administer a decedent’s will. The bond ensures the executor faithfully follows the will’s directives and manages the estate responsibly.
  2. Administrator Bonds: When an individual dies intestate (without a will), an administrator is appointed to manage the estate. Administrator bonds provide a guarantee that the administrator will act in the best interest of the estate and its beneficiaries.
  3. Guardian Bonds: These bonds are required when a guardian is appointed to manage the affairs of a minor or an incapacitated person. Guardian bonds ensure that the guardian properly manages the ward’s finances and well-being.
  4. Trustee Bonds: Trustees overseeing trusts must sometimes post a bond to guarantee they will administer the trust in accordance with its terms and in the beneficiaries’ best interests.

 

How to Obtain a Probate Bond

Cornerstone makes obtaining a probate bond easy:

  1. Determine the Bond Requirement: The court overseeing the probate process will determine if a bond is necessary and specify the required bond amount based on the estate’s value.
  2. Contact Cornerstone: Selecting a reputable bonding agency is crucial, especially ones who have the expertise to guide fiduciaries through the process. Cornerstone has the expertise and extensive network of providers to make the process simple, quick, and painless.
  3. Application Process: The fiduciary must complete an application form we’ll provide to you. This form requests personal information, details about the estate, and the fiduciary’s financial standing.
  4. Underwriting: The amount of the required bond plays a role in the level of underwriting, as smaller probate bonds may require very little underwriting compared to larger ones. Cornerstone will conduct an underwriting process to assess the risk involved in issuing the bond. This may involve a credit check and review of the fiduciary’s financial standing.
  5. Issuance of the Bond: If the application is approved, Cornerstone will issue the probate bond. The fiduciary pays a premium, which is usually a percentage of the bond amount, and the bond is then filed with the court.
  6. Bond Term and Renewal: Probate bonds are typically valid for the duration of the fiduciary’s responsibilities. However, if the estate administration extends beyond the initial term, the bond may need to be renewed.

THE BONDS YOU NEED,

DELIVERED QUICKLY & EASILY

1

FILL OUT Short APPLICATION

2

WE SECURE YOUR BONDS

 

3

You CROSS BONDS OFF YOUR LIST

 

Thanks for making it all happen in such a short time frame. Awesome service and follow through. Much appreciated!

Client Since 2017

Your service, and especially Joel who executes our bonds, are consistently above and beyond expectations. Cornerstone is a vital support partner and I would heartily recommend their services to anyone.

Dick W.

Great company to do business with, They are very responsive to our needs.

Russel S.