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(State) PROBATE
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Washington Probate > Probate for $595 + Costs > Additional Services > Probate Bonds
A Probate Bond is in effect an insurance policy in which the bonding (ie, surety) company guarantees up to the limits of the policy that a Personal Representative will administer an estate according to law.
Unless:
Decedent's Will waives Bond, or
Decedent's surviving spouse is the Personal Representative and only heir, ...
the Court usually requires a Personal Representative to post a Probate Bond to ensure that the estate's creditors, heirs, and beneficiaries will receive the funds or distributions to which they are entitled. One local bonding company's premiums are as follows:
| Policy Limit | Annual Premium |
| $10,000 | $100 |
| $20,000 | $110 |
| $50,000 | $260 |
| $100,000 | $460 |
| $250,000 | $985 |
| $500,000 | $1,610 |
No Bond is required in any of the following circumstances):
Decedent died testate and his/her Will
waives Bond, or
Decedent's surviving spouse is the Personal
Representative and sole taker (ie, heir or beneficiary) of the
estate, or
Decedent's Personal Representative is a bank
or trust company, or
The Court waives Bond, which the Court:
May (but is unlikely to) do for a Washington resident
Personal Representative, but
Cannot do for a non-resident Personal Representative.
If you must post Bond, King County requires that:
Its amount shall be "the sum of the value of the personal property
(exclusive of cash or other securities held in a blocked account) plus one year's anticipated income from all sources."
And
It must be presented to the Court for approval. Practically speaking, this means that the Superior Court Clerk's Office will not accept a Bond for filing (and won't issue Letters if a Bond is required) without a Judge having signed the Bond.
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