A Florida probate bond is generally the bond of a personal representative. Administrator, administratrix, executor, executrix, trustee under a will, etc., are synonymous with “personal representative” as defined by Florida law. 733.402 of the Florida Statutes defines the requirement.
Pursuant to Title XLII (Estates and Trusts), Chapter 733, “Unless the personal representative bond requirement has been waived by the will or by the court, every fiduciary to whom letters of administration are giv3en must file a personal representative bond issued by an acceptable surety, to be approved by the clerk of court. The fiduciary bond must run to the Governor of the State of Florida and the Governor’s successors in office. The surety bond must guarantee the personal representative’s performance of all of the duties imposed upon him or her pursuant to law. The requirements of the statute do not apply to banks and trust companies authorized by law to act as personal representatives. The bond penalty is also discretionary. The court holding jurisdiction may waive the bonding requirement, and require an increase or decrease the surety bond.
Attorney participation in probate matters is required by surety companies. The Florida Bar offers a good resource for identifying a competent attorney in the trust and estate field through its Real Property, Probate and Trust Law association.
Underwriting of personal representative bonds requires review by a surety specialist with knowledge about probate law experience with fiduciary surety 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 Florida personal representative bond or any fiduciary bond need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.