SPEAK WITH A TEAM MEMBER (770) 920-6030

Answers to Common Questions and Situations

We know how complex and confusing probate situations can be, and did our best to organize an easy to follow knowledge base to help address some of your most pressing questions. Get in Touch
with our team if you still have questions or can’t find what you’re looking for.

How Does a Probate Bond Work In Georgia?

If you’re handling an estate, you may be required to obtain a bond before the probate court will allow you to serve as executor or administrator.  But, how does a probate bond work and who pays for a probate bond?

At first, the idea of a bond may seem unusual or even scary.  In this article, we’ll look at what a probate bond is, where to get one, and how a probate bond works.

My name is Erik Broel & I am the founder & CEO of Georgia Probate Law Group.

who pays for a probate bond

At our firm we help families who have lost a loved one navigate the complex and confusing legal process so they can make sure the estate is handled properly and their loved one’s memory is honored.    

What Is A Probate Bond?

What is a probate bond

A bond in probate court works like an insurance policy. 

It insures the beneficiaries or heirs of the estate against the risk that the executor or administrator could mismanage or intentionally harm the estate by misusing or taking estate property.

Where To Get A Probate Bond?

A bond in probate court is usually obtained from a commercial insurance agency. 

Depending on the amount of the bond, the insurer may ask for a credit check, employment verification, and other information to determine whether it will underwrite the bond. 

The amount of the bond will be set by the court.  The bond is normally equal to the value of all non-real estate property.  As the value of the estate increases, the more stringent the bond requirements become.

How Does A Probate Bond Work?

Since the bond works like an insurance policy, it would not pay anything out unless something bad happens in the estate. 

For example, if the personal representative does not handle their responsibilities properly, the probate court judge has the authority to order the personal representative and bond company to pay for the harm.

Often, that means the bond will wind up paying for the harm initially. 

Even if the bonding company is the one that pays, that doesn’t mean the bad acting executor or administrator is off the hook because the bond company will often pursue that person to recover the amounts paid out.

Next Steps: 

Everything discussed in this article is for general information and is not legal advice.

If you are in a situation where you need help settling an estate correctly, I recommend you reach out to our office at (770) 920-6030 to set up a consultation.


If you’re not quite ready for a consultation, be sure to download our Georgia Probate Handbook so you know how the estate is supposed to be handled.

How does probate bond work

 

Disclaimer: The information above is provided for general information only and should not be considered legal advice. Our probate attorneys provide legal advice to our clients after talking about the specific circumstances of the client’s situation. Our law firm cannot give you legal advice unless we understand your situation by talking with you. Please contact our law office to receive specific information about your situation.

Schedule A Consultation Today

Compassionate listeners, knowledgeable guidance. Schedule a free consultation with our team and let us help you and your family with your legal concerns.

GET IN TOUCH 770-796-4685

Download the Georgia Probate Handbook.

Learn Important Probate Essentials, including key things that go wrong in an estate, how to prevent them, and what to do if they happen.

First Name(Required)
This field is for validation purposes and should be left unchanged.

]

About the author

A man in a suit and tie is smiling at the camera with a blurred green background, showcasing the confidence and professionalism you can expect from Georgia Probate Law Group - Your Professional Probate Attorney.
Erik J. Broel
Founder & CEO

Erik is an award-winning probate lawyer with over fifteen years of experience and the founder of Georgia Probate Law Group. As a licensed probate lawyer, he considers it his mission to demystify the procedures of handling an estate or trust and to help people understand these issues faster by making the complex estate process simple and accessible.

More about Erik
logos-image logos-image logos-image

© 2024 Georgia Probate Law Group by Broel Law, LLC. All rights reserved.