Atlantic County Administrator Bond Guide
If you are an appointed estate administrator in Atlantic County, New Jersey, you may need a surety bond to protect heirs and creditors. Read on to learn more and get your bond today!
Bond Overview
- Purpose: Creates financial protection if an administrator manages an estate incorrectly
- Who Needs It: Estate administrators in Atlantic County, NJ
- Regulating Body: The Atlantic County Civil Courthouse
- Required Amount: Varies based on estate size and monetary amount
- Premium Rates: Typically 0.5–2%, credit-based
What Is a New Jersey Atlantic County Administrator Bond?
Administrator bonds are a type of probate bond which protects heirs and creditors from fraudulent or negligent activity of an administrator. In New Jersey, you have the legal right to act as an administrator if you are one of the following:
- Spouse of the deceased
- Child of the deceased
- Parent of the deceased
- Sibling of the deceased
- Children of a deceased sibling
Atlantic County requires administrators to purchase a surety bond to ensure proper handling of the estate according to New Jersey Statute N.J.S.A. 3B:15-1.
What Are an Atlantic County Administrator's Responsibilities?
This type of probate bond guarantees the estate administrator in Atlantic County will properly complete responsibilities, such as the following:
- Collect assets and take possession of personal property
- Identify and pay creditors
- Distribute assets to beneficiaries
- Investigate claims against the estate
- Appraise property for tax purposes
- Collect dues to the estate, if applicable
Read the Atlantic County’s Duties of Administrator for a full list of responsibilities.
How Much Do Administrator Bonds Cost in Atlantic County?
Atlantic County administrator bond amounts vary based on the estate value. The New Jersey surrogate court will determine your required coverage amount.
With good personal credit, you can expect to pay a 0.5–2% rate of the total bond amount, starting at $100. Get your exact quote today!
Note: You must purchase and file your surety bond before being appointed as an administrator.
How Does an Atlantic County Administrator Bond Work?
By purchasing an Atlantic County administrator bond, you enter a legal contract between three parties:
- Principal: You, the administrator filing the bond
- Obligee: The Atlantic County Surrogate Court requiring the bond
- Surety: The provider issuing the bond
The purpose of this bond is to guarantee you, the principal, manage the estate and distribute assets to heirs properly. For example, if you were to steal money owed to an heir, the heir could file a bond claim for reimbursement.
How Do I Get an Administrator Bond?
SuretyBonds.com provides the fastest and easiest way to get a probate bond. To get your Atlantic County, NJ administrator bond, complete the following steps:
- Apply online at SuretyBonds.com
- Get a free quote within one business day
- Buy online or over the phone
- Receive your bond via email
- Submit the bond form to the court
Be sure to verify your exact coverage requirement with the court before purchasing. If you need an estate bond for another county in New Jersey, apply on our Probate Bond page or call 1 (800) 308-4358 for assistance.
What Do I Need to Include In My Bond Application?
You must include the following information on your Atlantic County administrator bond application:
- If the case involves guardianship or conservatorship of a minor or incapacitated person
- Date of death
- Date of administrator appointment
- List of disputes between heirs if applicable
- Name of person’s estate being handled
- Name and address of the obligee
How Do I Renew My Administrator Bond?
Atlantic County administrator bonds expire annually. A SuretyBonds.com representative will contact you during the renewal period to discuss next steps if coverage is still required.
If you have any questions, refer to our Surety Bond Renewal Guide or call 1 (800) 308-4358 to speak with a team member.
How to Become an Estate Administrator in Atlantic County
If you wish to be an administrator, the surrogate court overseeing the probate case must appoint you. You must bring the following items to the Surrogate’s office to qualify:
- The original will
- A certified copy of the death certificate
- A complete list of names and addresses of the closest, living blood relatives of the deceased
- Documentation of assets with exact value amounts
- List of the deceased’s debts
- A form of ID
- Cash or check for applicable fees
After submitting these materials, be sure to purchase your surety bond before appointment. Contact the Atlantic County Surrogate’s Office for more information on becoming an estate administrator.
