When you’re appointed as a personal representative, executor, or administrator of an estate, one of your first responsibilities may include securing a probate bond. This type of surety bond ensures that you’ll carry out your fiduciary duties in accordance with the law and protects the estate’s beneficiaries from financial harm.
But how long does the probate bond last? And if the estate takes longer to settle than expected, what are your obligations when it comes to bond renewal?
How Long Does a Probate Bond Last?
Most probate bonds are issued for an initial term of one year (12 months). This is a standard duration across many types of court bonds, especially when the total time needed to administer the estate is unknown at the start of the process.
This one-year term allows the fiduciary to begin working on the estate (gathering assets, paying debts, filing taxes, and preparing distributions) while giving the court an opportunity to reassess the estate status if the administration extends beyond the first year.
Renewals: Required Until Estate Administration Is Complete
If the estate is not fully settled within that first year (and many are not), the probate bond must be renewed annually until:
- The estate is closed.
- All final reports are approved by the court.
- The fiduciary is officially discharged from their duties.
The renewal process ensures that the estate remains protected throughout the entire administration period, which can often a year or more, especially in complex cases or those involving real estate sales, litigation, or tax issues.
What Happens If You Don’t Renew the Bond?
Failing to renew a required probate bond can lead to serious consequences:
- The court may suspend or revoke your authority to act as the estate’s representative.
- Asset transfers and estate distributions may be delayed.
- You may be personally liable for any resulting losses.
- The court may appoint a new administrator, causing additional delays and costs.
Make sure you stay in compliance throughout the probate process.
How Does the Renewal Process Work?
In most cases, renewal doesn’t require a new full application. However, if there have been significant changes (such as a bond claim, poor credit developments, or an increase in the bond amount), you may need to provide updated information.
Just like the initial bond, the renewal requires a premium payment. This ensures continued coverage for the new term.
Once payment is received, you can get a continuation certificate or confirmation of the bond on file with the probate court renewed, depending on your jurisdiction’s requirements.
Do Probate Bonds Expire When the Estate Is Settled?
Yes, but not automatically. The probate bond remains in effect until the court formally discharges the fiduciary. This usually happens after the court approves the final accounting and closes the estate.
Once the estate is settled and the court signs off on the discharge, the bond obligation ends, and no further premiums or renewals are needed.
Important: don’t assume that the bond ends once the year is up or once you’ve made distributions. You must be officially discharged from your duties before the bond is considered closed.
Can the Probate Bond Amount Change?
Yes. In some cases, the probate court may increase or decrease the bond amount during the administration process, depending on:
- The discovery of new assets
- Changes in estate value
- Allegations of mismanagement
- Disputes among heirs or creditors
If the bond amount increases, the fiduciary may need to amend or replace the existing bond and pay an additional premium.
Helping Clients Stay Bonded and Compliant
As a probate or estate planning attorney, you’re often the first point of contact when a client is appointed to manage an estate. You play a key role in ensuring they understand their bonding obligations, not just at the start, but throughout the process.
We recommend that attorneys:
- Prepare clients early for the possibility of multiple years of bond renewals.
- Partner with a trusted bond agency that can issue bonds quickly and offer renewal support.
- Track court deadlines alongside bond expiration dates to avoid lapses in coverage.
Need a Probate Bond?
Probate bonds may start with a one-year term, but they stay in place until the job is done. At The Patrick J. Thomas Agency, we make it easy to stay on top of the bonds you have and need. From first-time bond issuance to annual renewals and court filings, we’re here to help personal representatives and estate attorneys every step of the way.