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Ancillary Administrator Bond: Similar to an administrator bond (a type of probate bond), an ancillary administrator bond is a bond required by a probate court to protect the administration of a decedent's will, estate, or guardianship for the whole purpose of disposing assets that the decedents owns in a state where the decedent did not reside. The bond is required by the courts to guarantee that the principal comply with the laws in which the property being disposed of is situated, which is not the same state in which the decedent/principal resides.
The bond amount will always be determined by the court and stated in the "Order for Probate."
******** In submitting the initial request for bonding, the following information should be included to insure a quicker response.
1) A complete court bond application - Will provide a basic overview of the bond being requested, as well as information on the principal requesting the bond.
2) Copy of the court documentation - For an administrator bond, the court document will be the order for probate, which will detail the court case, decision as well as the required bond amount.
3) Business Financial Statements: If the principal requesting the bond is a corporation, provide the most recent year business financial statements (balance sheet and income statement). In addition to the business financial statement, a personal financial statement of all the owners of the corporation should be provided as well.
4) Personal Financial Statement: If the principal(s) is an individual, provide a personal financial statement for the principal(s).
5) Current Bank Statements: If the corporation or individual's financial statement has a high declaration of short term/liquid assets (cash, stock and securities), current statements to verify these assets should also be provided.