What is a probate bond?

A probate bond is a type of legal bond required in the state of California when someone seeks to be appointed as a Personal Representative of an Estate. The bond is meant to protect the interests of the beneficiaries of the Estate in the event that the Personal Representative fails to manage the Estate properly. The Personal Representative must obtain a probate bond to be appointed by the Probate Court. This bond is an assurance that the Personal Representative will perform their duties as required by Probate Law and that any losses incurred as a result of their negligence will be covered by the bond. The bond is typically required to be in an amount equal to the value of the Estate. In California, the probate bond must be written by a surety company that holds a valid license in the state. The Personal Representative must pay a premium to obtain the bond from the surety company. The premium is typically a percentage of the bond amount, although the terms of the bond may vary depending on the size of the Estate and the surety company. The probate bond helps protect the beneficiaries by ensuring that the Personal Representative is held accountable if they fail or mismanage the Estate. The surety company will also reimburse the beneficiaries

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