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A financial guarantee ensuring the special administrator manages the estate responsibly during a transitional period.
A special administrator bond is a fiduciary bond that protects the interests of an estate when a special administrator is appointed by the court to handle urgent matters before a permanent personal representative is established. This bond ensures that the special administrator acts in the best interests of the estate and its beneficiaries, managing assets and debts in accordance with legal standards. It provides a safeguard for the estate's assets, compensating for any mismanagement or misconduct by the special administrator.
Credit score over 650,Appointed by the court as a special administrator,Must have an attorney or prior experience in estate management,No disputes regarding the estate or beneficiaries
A special administrator is typically appointed in situations requiring immediate action, such as preserving estate assets or addressing urgent financial matters. This appointment can occur when the regular personal representative is unavailable or when there is a delay in the probate process. Special administrators have limited powers and responsibilities, often defined by the court.
Here are some of the most asked Oldham County Texas surety bond questions
Any bond changes or cancellations require a court order. By law, neither the attorney, the principal, nor the agent can cancel a bond. Only the court can cancel or change a bond through a court order.
If the court issues an order to change or cancel your bond, please notify us by submitting a secure message on this website. Upload the bond discharge order or let us know if it is available on the court docket for download.
For changes, any additional pro-rated premium will be due if the bond amount is increased.