Frequently Asked Questions
What are the office hours for River City Bonding?
We are open 9am to 5pm, Monday through Friday by appointment only. Please call for an appointment. Contact page
Where does River City Bonding provide bonds?
River City Bonding is licensed to issue bonds in every county in Texas. In 2019, our agency issued bonds in the following counties: Bexar Travis, Williamson, Hays, Comal, Medina, Atascosa, Kerr, Kendall, Guadalupe, Wilson, Lubbock, El Paso, Andrews, Nueces, Webb, Hidalgo, Cameron, Tarrant and many others. Moreover, River City Bonding is licensed to execute bonds for multiple states including, but not limited to, California, New Mexico, Oklahoma, Louisiana, Nevada.
What is a probate bond?
A probate bond is a three party agreement between the guardian/administrator, the probate court and the bond company. The bond company is licensed under the laws of the state to guarantee the performance of the guardian or administrator to fulfill the obligations imposed by probate statutes. A probate bond is NOT:
An insurance policy to protect the principal
An interest bearing account for the benefit of heirs and wards
In fact, the probate bond does not protect the guardian/administrator whatsoever. The bond is for the sole benefit of the heir(s) and ward(s). A claim under the bond would be the result of a judgment against the guardian or administrator rendered by the court. Such claims are usually promulgated by dispossessed heirs, unpaid creditors or attorneys representing interested parties of the estate.
What actions are expected by the bond company on behalf of the administrator or guardian?
The bond company expects the guardian or administrator to fulfill the requirements as outlined in the probate statutes. Generally, these requirements include, but are not limited to, filing inventories and annual reports to the probate court when appropriate and submitting a final accounting in order to close the guardianship or administration. In other words, the bond company expects nothing less than what is required by the statutes of the probate code.
How is a probate bond fee assessed?
The bond fee is based on the amount of the bond. It is important to note that bond amounts are set solely by the discretion of the judge. The minimum bond fee is $100.00. The bond fee rises proportionally as bonds are set at higher amounts. The bond fee must be paid annually until the court releases all parties of the obligation.
How is a probate bond closed?
The only document that can close a probate bond is an order signed by the court which required the bond in the first place. This document is commonly referred to as the “Order Discharging” and it releases the bond company and the principal from any further liability associated with the proceedings. A bond is not canceled by the bond company; it is continuous until closed by the court. The court is the only party that can close or cancel a bond. A copy of the "Order Discharging" must be submitted to River City Bonding.
The bond is not closed automatically upon the death of the ward. Remember, only a judge can close a bond by signed order. Statutorily, such an order is signed upon the review by court officials of a final accounting of the estate or guardianship.