A DC personal representative bond is required of probate administrators unless specifically waived. D.C. Code §20–502 is instructive. Subsection (a) clearly defines the requirement. “Unless excused from filing a fiduciary bond by the decedent’s will or written waiver of all parties with an interest in the estate, each personal representative must post a bond running to the District of Columbia for the benefit of all interested persons and creditors with a surety approved by the Court. When a personal representative is excused from giving a DC probate bond by the decedent’s will, or by the written waiver of one or more interested parties then no bond shall be required except under specific, limited circumstances. In the absence of a waiver by the testator, the interest of any interested person who does not waive bond shall be protected and no waiver of bond permitted. There are three distinct personal representative bond obligations pursuant to the circumstances of the probate case and whether a demand for bond is proferred by a party or the court unilaterally imposes the requirement, as well as the date of the deceased’s death.
- Nominal Bond of a Personal Representative
- Bond of a Personal Representative pursuany to 20-502 a-1
- Bond of a Personal Representative pursuant to 20-502 a
It is important to understand the nature of these obligations. The DC personal representative bond penalty (surety bond amount) is set by the Court genarally in an amount not exceeding the probable maximum value of the personal and D.C. real property of the estate at any time during administration. The court may order a reduction of the bond to by the amount of cash belonging to the estate that is deposited with a bank, trust company, savings and loan association, building association, building and loan association, or federal savings and loan association approved by the Court so long as controls subject withdrawals to court approval. The Court may increase or decrease the probate bond amount in its sole discretion for good cause at any time during administration of the probate matter.
Underwriting of personal representative bonds requires the review of a surety bond specialist with knowledge about probate law in the District and experience with fiduciary obligations generally. Surety bond leader, Surety One, Inc., specializes in fiduciary bonds. We offer probate bonds in all fifty states, Puerto Rico, Canada and U.S. Virgin Islands. Application submissions are reviewed and quoted on the same day as they are received. We are the MOST RESPONSIVE surety bond underwriter in the business. Call (800) 373-2804 or email us at Underwriting@SuretyOne.com to discuss a DC personal representative bond or any fiduciary bond need.
Probate bond application review and quoting are free of charge. There is no obligation to purchase.