A Court-mandated probate surety bond protects the decedent’s assets, beneficiaries and interested
parties to a decedent’s estate that the personal representative will act in a cautious and prudent
A good way to look at a bond is as mandatory estate-theft insurance – think of mandatory car insurance
(and now, mandatory medical coverage). No driver thinks that they will cause an accident, and no person
thinks that they will get sick, but we know that both things do happen. Same with theft from the estate
– it does happen sometimes, and that is why the many have to pay “insurance” to cover the thefts done by
the few. You may ask “why do I need a bond, I won’t steal from the estate,” but that is precisely the
point – it is like saying “why do I need car insurance, I drive safely, or why do I need health
insurance, I’m healthy” – you’re essentially made to pay a premium to cover others who do get into those
situations. Otherwise, insurance wouldn’t work.
A personal representative of an estate is expected by the Court to take his or her responsibilities
seriously. If you wish to make sure that everything is done correctly, contact a Miami estate attorney
at (786) 522-1411.