Executors and Administrators in New York Surrogate’s Court are often required to post an estate surety bond in order to be appointed as a fiduciary. Whether a bond is required is usually within the judge’s discretion.
The purpose of the Surrogate’s Court requiring this estate bond is to protect the interests of the estate and its beneficiaries in accordance with state law. While the bond requirement is waived when a person dies with a prepared will identifying an Administrator or Executor, the Court often requires that the Administrator post a bond if a person dies intestate (without a will). But it comes down to the Surrogate Court judge’s discretion as to whether the bond is necessary to protect the estate’s interests. Learn more about New York Surrogate’s Court bonding requirements.
Where can you instantly purchase an Estate Surety Bond?
Colonial Surety offers the direct and digital way to obtain estate bonds. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are easy — get a quote online, fill out your information, satisfy underwriting requirements, and enter your payment method. Print or e-file your bond from your office. It’s that simple!