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ARIZONA ADMINISTRATOR SURETY BONDS

ARIZONA ADMINISTRATOR SURETY BONDS

ARIZONA ADMINISTRATOR SURETY BONDS

An Administrator Surety Bond (Arizona Administrator Surety Bonds) is necessary by a probate court when a person has been appointed to handle the estate of the deceased.

 

The purpose of the bond is to protect the administration of a will, estate, or guardianship from any financial wrongdoings. The bond amount is definite by the court in order to protect the amount of the estate. If the administrator financially harms the will, estate or guardianship, the amount of this bond is available for compensation.

 

An administrator bond is very similar to the executor, conservatorship, guardianship, and trustee bonds, with the following differences.

 

  • Administrator: Principal has been appointed to handle the estate of the deceased.

  • Executor: Principal has been appointed through a will to handle the estate of the deceased (and you must submit a copy of the will.)

  • Conservatorship: Principal has been appointed by the courts to handle the assets of a person who has been declared unable to handle their own affairs.

  • Guardianship: Principal has been appointed to protect the assets of a minor until they reach majority.

  • Trustee: Principal has been appointed through a trust to handle the estate of the deceased (and you must submit a copy of the trust.)

 

Requirements

 

The cost of an Administrator Surety Bond changes based on several factors, including the size of the bond required, which state it is required in and other underwriting considerations. Most administrator bonds do not require a credit check if its under $100k in size. To process your bond, we will need a copy of the proposed order from the court that specifies the bond requirements and amount.

arizona administrator surety bonds