An Illinois public administrator bond is generally required by large jurisdictions where significant volumes of estates in testate are opened without identifiable heirs or where an appropriate administrator affiliated with the deceased cannot be found. Pursuant to §13-1 of the Illinois Probate Code (755 ILCS 5/13-1), "Every four years or as often as vacancies occur, the Governor by and with the advice and consent of the Senate, shall appoint in each county a suitable person to serve as public administrator and public guardian of the county. The Governor may designate without the advice and consent of the Senate, the Office of State Guardian as an interim public guardian to fill a vacancy in one or more counties having a population of 500,000 or less if the designation" under certain circumstances.
The Illinois public administrator bond must run to the people of the State of Illinois in a sum of not less than five thousand dollars ($5,000) and approved by the court of the county in which he or she is appointed. The surety bond guarantees that he or she will faithfully discharge the duties of his or her office. The court may from time to time require additional bond from the public administrator or guardian and may also require him or her to file the customary bond required of representatives of estates of decedents, or persons with disabilities.
When a person dies owning any real or personal property in Illinois and there is no person within the state having a right to administer the decedent's estate, the public administrator must take appropriate measures to protect and secure the estate from waste, loss or embezzlement until letters of office on the estate are issued to a person entitled to the same or until a demand for the removal of the personal estate from Illinois is made by a nonresident personal representative pursuant to the authority granted by competent authority. The portal of the Cook County Public Administrator provides good information about the administrator's duties and how assets are held and dispersed.
Underwriting of public administrator bonds requires review by a surety specialist with knowledge about probate law, experience with fiduciary obligations generally and a working knowledge of the public administrator statutory scheme. Surety bond leader, Surety One, Inc., specializes in administrator 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 sectpr. Call (800) 373-2804, email us at Underwriting@SuretyOne.com or chat with us live here for a bond of an Illinois public administrator bond or any fiduciary bond need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.