Blog - Questions & Answers - Ohio Probate Court Bonds, Ohio Estate Bonds

Ohio Probate Bond Top Question:    Are Ohio probate bonds refundable, do we get the money back after case is finished?

Ohio Probate Bond Agent Answer:  If you posted entire amount of Ohio probate bond in cash directly with the court, contact the court directly regarding return of bond funds.  If you posted your Ohio estate bond with an outside licensed Surety Bond Company, such as this website, then no money was actually deposited... a surety bond company charged an annually recurring fee, or premium, to post the full bond amount.

Ohio Probate Bond Top Question:    I never had a probate bond before, what is an Ohio Guardianship bond or Ohio Probate bond?

Ohio Probate Bond Agent Answer:  An Ohio Probate Bond, or Civil Court Surety Bond, is issued by an insurance company.  A probate court bond can protect the estate from malfeasance, mismanagement, or other improper handling of estate assets.  The probate court requires a bond in many instances.  Unlike an insurance policy, where the insurance carrier is agreeing to pay for potential losses, a bond simply means the insurance company is, in effect, becoming your 'co-signor' for the amount of the bond.  The insurance carrier guarantees you're able to pay the estate up to the amount of the bond.  If the insurance carrier has to pay anything to the estate from a claim on your bond, they will then seek to collect the amount - plus costs - from the bond applicant.  Applying for a bond is much like applying for most insurance.  The insurance carrier will review your qualifications for eligibility based on several factors, but most bonds today are primarily underwritten based on personal credit. 

Ohio Probate Bond Top Question:    What if I live out of state, can I get an Ohio Executor bond or OH Administrators Bond?

Ohio Probate Bond Agent Answer:  Ohio Administrator Bonds or Ohio Executor Bonds are available for qualified applicants even if they live out of state.  Often times families and other responsible parties live out of state while the handle estate.  As with all probate bonds in Ohio and most other states, even if you are a foreign applicant, living in another state, you should still have a qualified probate attorney.  Apply for out of state Ohio probate bond.