Court & Fiduciary Bonds

Court Bonds, like appeal bonds, are often required to pursue legal remedies through the court system. Fiduciary bonds guarantee the faithful performance of fiduciaries appointed in probate and surrogate courts—like administrators, executors, guardians and trustees.

 

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When court and fiduciary bonds are required, they must be obtained quickly. As a leading, direct provider of court and fiduciary bonds, Colonial makes it easy to comply. Our digital bonds are available everywhere in the USA and can be instantly e-filed from anywhere-even the courthouse.

We now offer the ability to place your collateral (if required for certain court bonds) with Morgan Stanley, so you can generate interest on your collateral. In addition, we offer a wire transfer or a letter of credit for other ways to post collateral.

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Frequently Asked Questions

    1. What are the bonding requirements? Applicants need to have a minimum credit score of 650 and provide supporting court documents indicating the need for the bond, such as being ordered to obtain a bond, being appointed as administrator, executor, guardian, conservator, trustee, or petitioning for appointment.
    2. Can I have a cosigner? If you don’t meet the minimum credit score requirement, you can have someone else appointed as a Co-Fiduciary through the court system, as long as they meet the credit score requirement and are listed on the supporting petition/order for administration.
    3. Do I need an attorney for approval? Having an attorney is not a requirement for bond approval.
    4. What is the application process? The entire application process is done online. Start by filling out the application and uploading relevant court documents. After submission, a soft credit pull will determine instant approval or declination. An electronic copy of the bond will be emailed instantly, and if the original is required for filing in your state, it will be mailed for federal express based on your choice.
    5. How long until I receive the bond? Instantly via email or download after purchase. Depending on state requirements an original may be required in which case you have the option of federal express or US Mail.
    6. What should I do after receiving the bond? Sign the bond and file it with the court that has required you to obtain the bond.
    1. What is the application process/requirements? Start the application online and submit relevant court documents via upload or fax. Collateral instructions will be provided for posting collateral. Once we receive the collateral, we can release the bond.
    2. Why do I need to post collateral? In case of losing the judgment, immediate payment needs to be made to rectify the judgment in favor of the opposing party.
    3. What is Post Judgment Interest/Why 120%? To account for any interest that may accrue during the court stay period, 120% is required. This estimation includes 10% interest over a two-years.
    4. What methods of collateral do you accept? We accept Wire Transfers (electronic funds transfer between bank accounts), Letters of Credit (bank guarantee of funds), and we now offer the ability to place your collateral (if required for certain court bonds) with Morgan Stanley, so you can generate interest on your collateral. In addition, we offer a wire or a letter of credit for other ways to post collateral.

Helpful Resources

Checklist for Trustees
Court Bonds
What Exactly Is An Estate?
Court Bonds
Understanding Appeal Bonds: Know The Basics
Court Bonds

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