Date Published: October 4, 2023
deceased’s primary heirs to serve as the estate administrator. The administrator bond is a guarantee that the administrator will carry out their duties faithfully and honestly. It protects the estate’s creditors and beneficiaries from any losses that may occur as a result of the administrator’s mismanagement or wrongdoing. The amount of the administrator bond is typically set by the court and is equal to the value of the estate. However, the court may reduce the amount of the bond if the administrator is a close relative of the deceased or if the estate is small.
The administrator is responsible for a variety of tasks, including:
- Locating and inventorying the deceased person’s assets
- Paying the deceased person’s debts
- Filing the deceased person’s tax returns
- Distributing the deceased person’s remaining assets to their heirs or beneficiaries
The administrator is also responsible for representing the estate in court and for protecting the interests of the estate’s creditors and beneficiaries.
Here are some examples of situations where you may need an administrator bond in Texas:
- You are appointed as the administrator of your parent’s estate after they die without a will.
- You are appointed as the administrator of your spouse’s estate after they die without a will.
- You are appointed as the administrator of the estate of a minor child who dies without a will.
- You are appointed as the administrator of the estate of a person with disabilities who dies without a will.
Where to apply when I need an administrator bond in Texas
You can apply for and purchase an administrator bond by clicking here. The surety company will charge a premium for the bond, which is usually based on the amount of the bond and the administrator’s financial history. Once you have purchased the administrator bond, you must file it with the court. Once the bond is approved, the court will issue you letters of administration, which authorize you to act on behalf of the estate.
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