{"id":1042,"date":"2013-05-05T04:19:56","date_gmt":"2013-05-05T04:19:56","guid":{"rendered":"http:\/\/suretyone.com\/blog\/?p=1042"},"modified":"2020-02-06T05:21:01","modified_gmt":"2020-02-06T05:21:01","slug":"illinois-administrator-bond","status":"publish","type":"post","link":"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/","title":{"rendered":"Illinois Administrator Bond"},"content":{"rendered":"

Unless waived by a will and excuse by the court an Illinois administrator bond<\/strong> is required of administrators and personal representatives before letters of administration can be issued. \u00a0Pursuant to Illinois Code,\u00a0before undertaking the representative’s duties, every individual representative must take and file an oath or affirmation that he will faithfully discharge the duties of the office of the representative according to law and will file and have approved by the court an Illinois administrator bond<\/strong> binding the individual representative to do so\u00a0755 ILCS 5\/12-2<\/a>. The statute differentiates a “paper bond” from a “non-paper bond”, the latter being basically a written promise of the administrator. \u00a0Every \u00a0PAPER bond provided for in this same Article must have as security thereon not less than 2 sureties acceptable to the court or one surety company qualified to do business in this State and acceptable to the court. Typically any corporate surety company granted a certificate of authority by the Illinois Department of Insurance<\/a> is acceptable for the Illinois administrator bond<\/strong>. \u00a0Non-resident executors are never excused from the bond requirement however the State Guardian Office IS by statute.<\/p>\n

The administrator surety bond, also referred to as an Illinois personal representative bond<\/strong> must be written in an amount not less than one and one half times the value of the personal estate if a surety company acts as surety. If the personal representative takes possession of the decedent’s real estate, then the surety bond must be executed in such additional amount as the court determines, having regard to the income from the real estate. \u00a0The court when fixing the bond amount in a case involving the\u00a0wrongful death of the decedent it is the duty of the administrator to file in and have approved by the court an Illinois administrator bond<\/strong> for an amount not less than one and one half times the amount likely to come into his hands as the proceeds of a judgment or settlement if a surety company acts as surety. State law<\/a> allows the court to permit an administrator of multiple estates or persons of more than one ward to include his obligations to some or all in one bond and where there are two or more\u00a0or more administrators of the same estate or person, the court may take a joint corporate surety bond for both. \u00a0The court can direct that an executor or personal representative post increased bond amounts where either an interested party petitions the court to direct it and\/or the courts deems that the Illinois personal representative bond<\/strong> is insufficient. \u00a0This is common where real estate or valuable investments of the deceased are sold.<\/p>\n

Illinois surety bond leader<\/strong>, \u00a0Surety One, Inc.<\/a>\u00a0is one of the largest probate bond underwriters in the nation. \u00a0Our underwriting solutions provide you the\u00a0fiduciary bond<\/a>\u00a0that you need. \u00a0We can offer you probate bond\u00a0terms no matter what your financial condition.\u00a0Visit us at\u00a0SuretyOne.com<\/a>, call\u00a0(800) 373-2804<\/span>\u00a0or email\u00a0Underwriting@SuretyOne.com<\/span>\u00a0for an\u00a0Illinois administrator bond<\/strong>\u00a0application or information about any\u00a0fiduciary bond<\/em>\u00a0need.<\/code><\/p>\n","protected":false},"excerpt":{"rendered":"

Unless waived by a will and excuse by the court an Illinois administrator bond is required of administrators and personal representatives before letters of administration can be issued. \u00a0Pursuant to Illinois Code,\u00a0before undertaking the representative’s duties, every individual representative must… Continue Reading →<\/a><\/p>\n","protected":false},"author":1,"featured_media":2895,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[219],"tags":[1284,1287,1288,1286,1285],"yoast_head":"\nIllinois Administrator Bond - Probate<\/title>\n<meta name=\"description\" content=\"Unless waived by a will and excuse by the court an Illinois administrator bond is required of administrators and personal representatives before letters of administration can be issued\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Illinois Administrator Bond - Probate\" \/>\n<meta property=\"og:description\" content=\"Unless waived by a will and excuse by the court an Illinois administrator bond is required of administrators and personal representatives before letters of administration can be issued\" \/>\n<meta property=\"og:url\" content=\"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/\" \/>\n<meta property=\"og:site_name\" content=\"Surety One, Inc.\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Surety1\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/Surety1\" \/>\n<meta property=\"article:published_time\" content=\"2013-05-05T04:19:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-06T05:21:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/suretyone.com\/blog\/wp-content\/uploads\/personal-representative-bond-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"915\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:site\" content=\"@SuretyOne\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"C. Poindexter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/suretyone.com\/blog\/#website\",\"url\":\"https:\/\/suretyone.com\/blog\/\",\"name\":\"Surety One, Inc.\",\"description\":\"Our Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/suretyone.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/suretyone.com\/blog\/wp-content\/uploads\/personal-representative-bond-1.jpg\",\"contentUrl\":\"https:\/\/suretyone.com\/blog\/wp-content\/uploads\/personal-representative-bond-1.jpg\",\"width\":1280,\"height\":915,\"caption\":\"Kansas Probate Bond\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/#webpage\",\"url\":\"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/\",\"name\":\"Illinois Administrator Bond - Probate\",\"isPartOf\":{\"@id\":\"https:\/\/suretyone.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/#primaryimage\"},\"datePublished\":\"2013-05-05T04:19:56+00:00\",\"dateModified\":\"2020-02-06T05:21:01+00:00\",\"author\":{\"@id\":\"https:\/\/suretyone.com\/blog\/#\/schema\/person\/d34de27c146d5df3d1fb94d9b0c04605\"},\"description\":\"Unless waived by a will and excuse by the court an Illinois administrator bond is required of administrators and personal representatives before letters of administration can be issued\",\"breadcrumb\":{\"@id\":\"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/suretyone.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Illinois Administrator Bond\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/suretyone.com\/blog\/#\/schema\/person\/d34de27c146d5df3d1fb94d9b0c04605\",\"name\":\"C. Poindexter\",\"sameAs\":[\"https:\/\/www.SuretyOne.com\",\"https:\/\/www.facebook.com\/Surety1\",\"https:\/\/twitter.com\/SuretyOne\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Illinois Administrator Bond - Probate","description":"Unless waived by a will and excuse by the court an Illinois administrator bond is required of administrators and personal representatives before letters of administration can be issued","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/","og_locale":"en_US","og_type":"article","og_title":"Illinois Administrator Bond - Probate","og_description":"Unless waived by a will and excuse by the court an Illinois administrator bond is required of administrators and personal representatives before letters of administration can be issued","og_url":"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/","og_site_name":"Surety One, Inc.","article_publisher":"https:\/\/www.facebook.com\/Surety1\/","article_author":"https:\/\/www.facebook.com\/Surety1","article_published_time":"2013-05-05T04:19:56+00:00","article_modified_time":"2020-02-06T05:21:01+00:00","og_image":[{"width":1280,"height":915,"url":"https:\/\/suretyone.com\/blog\/wp-content\/uploads\/personal-representative-bond-1.jpg","type":"image\/jpeg"}],"twitter_card":"summary","twitter_creator":"@SuretyOne","twitter_site":"@SuretyOne","twitter_misc":{"Written by":"C. Poindexter","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/suretyone.com\/blog\/#website","url":"https:\/\/suretyone.com\/blog\/","name":"Surety One, Inc.","description":"Our Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/suretyone.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/#primaryimage","inLanguage":"en-US","url":"https:\/\/suretyone.com\/blog\/wp-content\/uploads\/personal-representative-bond-1.jpg","contentUrl":"https:\/\/suretyone.com\/blog\/wp-content\/uploads\/personal-representative-bond-1.jpg","width":1280,"height":915,"caption":"Kansas Probate Bond"},{"@type":"WebPage","@id":"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/#webpage","url":"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/","name":"Illinois Administrator Bond - Probate","isPartOf":{"@id":"https:\/\/suretyone.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/#primaryimage"},"datePublished":"2013-05-05T04:19:56+00:00","dateModified":"2020-02-06T05:21:01+00:00","author":{"@id":"https:\/\/suretyone.com\/blog\/#\/schema\/person\/d34de27c146d5df3d1fb94d9b0c04605"},"description":"Unless waived by a will and excuse by the court an Illinois administrator bond is required of administrators and personal representatives before letters of administration can be issued","breadcrumb":{"@id":"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/suretyone.com\/blog\/illinois-administrator-bond\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/suretyone.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Illinois Administrator Bond"}]},{"@type":"Person","@id":"https:\/\/suretyone.com\/blog\/#\/schema\/person\/d34de27c146d5df3d1fb94d9b0c04605","name":"C. Poindexter","sameAs":["https:\/\/www.SuretyOne.com","https:\/\/www.facebook.com\/Surety1","https:\/\/twitter.com\/SuretyOne"]}]}},"_links":{"self":[{"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/posts\/1042"}],"collection":[{"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/comments?post=1042"}],"version-history":[{"count":3,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/posts\/1042\/revisions"}],"predecessor-version":[{"id":2940,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/posts\/1042\/revisions\/2940"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/media\/2895"}],"wp:attachment":[{"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/media?parent=1042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/categories?post=1042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/suretyone.com\/blog\/wp-json\/wp\/v2\/tags?post=1042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}