Fiduciary Bonds

Bonding Companies and Agents

Company Name
Agent Name
Company Name
Agent Name
Sam Winn Insurance
Sam Perry
Email Sam Winn Insurance
Wells Realty & Insurance Co
Betty Smith804-748-0003
Email Wells Realty and Insurance
Commonwealth Risk AdvisorsCal Jackson434-292-3137
Email Commonwealth Risk Advisors
Ford & Thomas
Tyler W Hancock
Email Ford and Thomas
Wm. L Harrison Insurance Agency
Fred A Zehrer
Email William Harrison Insurance
Invincia Insurance Solutions
Steven D Moore
Email Invincia Insurance Solutions
Creative Insurance Concepts IncCharlene J Reynolds804-674-8330Email Creative Insurance Concepts
Bridge Realty & Insurance Group
Maurice Stover
Email Bridge Realty & Insurance Co


The person appointed as an executor or administrator must give bond before entering upon his/her duties. A bond is a certificate or evidence of a debt with a sum fixed (value of the estate) as a penalty which contains a written agreement binding the parties to pay the penalty. It contains a condition however that the payment of the penalty may be avoided by the performance by one or more of the parties of certain acts.

Secured or Unsecured

The bond can be unsecured. If the decedent’s will states that the personal representative shall serve “without bond”, "requiring no security” or “waiving bond” then security is not required. For other circumstances see Virginia Code §§ 64.1-121, 26-4 and 6.2-1003.

If neither the will nor Virginia law waive security on a bond, surety will need to be posted on the bond. Surety has the effect of insuring the bond should it become payable. Most often surety or security is obtained through a bonding company. The company must have the authority to execute bonds in this Court. A premium proportionate to the value of the estate is paid to the bonding company.

If the probate assets are more than $15,000.00 and the person is a non-resident or if there are other heirs, they will need to post a surety bond. A surety bond may also be required if the person qualifying is a Virginia resident, but there is a will which does not waive the need for the surety bond or if there is no will and the person qualifying is not the sole heir. If a surety bond is needed, arrangements will need to be made with a bonding company before coming in to probate the estate. A bonding agent would attend the probate meeting.

Real estate is not included in the bond for an administrator because an administrator does not have the power to sell real estate. If surety is waived, take amount of personal property and double to set bond amount. If surety is required, bond amount should be at least equal to amount of personal property.