[WSBAPT] Need recommendation for probate bonding company when admin has bad credit

[Philip N. Jones]

If one bonding company has already declined, others are likely to do the same.  Have you asked the first company whether they will accept a co-signer/indemnitor?
It might involve spending less time and money to simply find a new administrator.
I try to follow the rule that I don't draft a probate petition for a proposed PR without first having them pre-approved by a bonding company.  It is not often that my proposed PR is turned down, but I once learned my lesson the hard way:  I drafted a petition and related documents, only to have my client flunk out with the bonding company.  The family went to a new PR and a new attorney and my efforts were wasted.
Phil Jones

Philip N. Jones
Duffy Kekel LLP
900 S.W. Fifth Ave. Suite 2500
Portland, OR 97204
pjones at duffykekel.com<mailto:pjones at duffykekel.com>
(503) 226-1371 - office
(503) 853-1482 - cell
(503) 226-3574 - fax

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of msafren at jennylinglaw.com
Sent: Tuesday, August 29, 2023 1:38 PM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Need recommendation for probate bonding company when admin has bad credit

Hi Folks:

Does anyone have a recommendation for probate bonding company when the estate administrator has bad credit?  My client must post a $25,000 bond as the administrator of the estate but has a poor credit history.  As a result, my client was already declined for a bond.

My client can get a co-signor / indemnitor to join them on the bond and the bond is relatively low value, so I'm puzzled as to why their poor credit history has become such an obstacle.

If anyone has any recommendations or suggestions, I'd certainly appreciate your input and guidance.

Kind regards,

Michael S. Safren, Esq.
Attorney at Law

14900 Interurban Ave. S., Ste. 280 | Seattle, WA 98168
11900 NE 1st St., Bldg. G - Ste. 300 |  Bellevue, WA 98005
P: (206) 859-5098 | E: msafren at jennylinglaw.com<mailto:msafren at jennylinglaw.com>
www.jennylinglaw.com<http://www.jennylinglaw.com/> | facebook.com/jennylinglaw/<http://www.facebook.com/jennylinglaw/>


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