Kentucky Personal Representative Bond

Kentucky Personal Representative Bond

According to Kentucky Revised Statue 395.130, every personal representative appointed as a fiduciary of an estate must post a surety bond with the probate court unless provided an exemption. These exemptions include when the terms of a will or trust excuse the need for a surety bond or upon the successful petition by an interested party. The Kentucky legislature enacted the surety bond requirement as a financial security in case personal representatives mismanage the estate’s assets.

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Have any questions? Give us a call at (855) 470-0877 and speak to a live Kentucky probate bond expert.

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Terms to Know when it Comes to Kentucky Personal Representative Bonds?

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What is the Required Bond Amount?

Kentucky Revised Statute 395.130 grants the court the authority to determine the required bond amount on a case-by-case basis depending on the assets in the estate. The court will seek to set the bond in an amount that adequately protects the interests of the estate’s beneficiaries and creditors. Any interested person, including the personal representative, may petition the court to reduce the required amount.

How Much Does a Kenucky Personal Representative Bond Cost?

The bond cost depends entirely on the bond amount needed for the estate. The personal representative will pay only a fraction of that bond amount. 

To determine how much the bond will cost, personal representatives can follow the steps listed below:

  1. Determine the Required Bond Amount

The probate judge or county clerk determines the bond amount based on the total amount of the estate, including any real estate, that the fiduciary has to oversee.

  1. Calculate the Total Cost

Administrator and executor bonds up to $20,000 cost $150 per year. For each additional $1,000 increase in the bond amount, the bond premium will increase by the corresponding amount outlined in the table below.

Bond AmountAdditional Premium (per $1,000)Bond Cost (1 year)
$0 - $20,000$150 flat rate$150
$20,001 - $60,000$6.00$150 - $390
$60,001 - $200,000$5.00$390 - $1,090
$200,001 - $500,000$3.75$1,090 - $2,215
$500,001 - $1,500,000$2.50$2,215 - $4,715
$1,500,000+$1.00$4,715+
Kentucky Personal Representative Bond Cost

As demonstrated in the table above, there is a tiered rate calculation for probate bonds. For example, a $50,000 Kentucky personal representative bond costs $300 per year, while a $300,000 personal representative bond costs $1,210 per year. Kentucky Revised Statute 395.130 states that the fiduciary is entitled to a credit for the premium of the bond, which is a valid estate expense. Call us at (855) 470-0877 to find out how much your personal representative bond will cost.

What Is the Process of Becoming a Personal Representative in Kentucky?

Step 1 – Meet the Qualifications

The following are eligible for appointment as personal representative:

Step 2 – Determine Priority

Kentucky grants priority for appointment as a personal representative in the following order:

Step 3 – Hire an Attorney

Although not explicitly required, we recommend that personal representatives hire an attorney to assist with the probate process.

Step 4 – Contact the Court

Personal representatives must contact the county’s district court with jurisdiction over the deceased individual’s estate. A court representative will walk the personal representative through the appointment process, provide them with all required forms, and answer any questions they may have.

Step 5 – Purchase a Surety Bond

Unless otherwise exempt, personal representatives must purchase and maintain a surety bond.

What are the Responsibilities of a Personal Representative in Kentucky?

Within 60 days of his or her appointment, the personal representative must file an inventory, in duplicate, of the estate’s assets with the District Court. The inventory must list the value of the assets at the time of the decedent’s death.

After paying the debts and any income and death taxes owed by the estate and distributing any remaining assets to the heirs, the personal representative must prepare and file a final settlement with the District Court. Kentucky Revised Statute 395.190 states the personal representative may not file the settlement until at least six months from the appointment date. 

The settlement must include a detailed record of all receipts and disbursements accompanied by canceled checks. It will also reflect the ultimate distribution to the heirs.  Finally, per Kentucky Revised Statute 395.625, the settlement must disclose the amount of compensation and the basis for such compensation received by the personal representative and attorney.

What is the Purpose of a Kentucky Personal Representative Bond?

Due to the responsibilities listed in the prior section, Kentucky requires personal representatives to purchase a surety bond as a prerequisite to being appointed as a fiduciary over an estate’s assets. The bond ensures that the estate’s beneficiaries and creditors will receive compensation for financial harm if the personal representative fails to abide by the regulations outlined in Chapter 395 of the Kentucky Revised Statutes. Specifically, the bond protects beneficiaries and creditors if the personal representative engages in fraud or mismanages the estate’s assets by violating their fiduciary duties.

Do All Estates in Kentucky Require a Bond?

Under the following circumstances, Kentucky Revised Statute 395.130, allows for the waiver of the bond requirement:

How Does the Application Process Work with Jet?

Jet’s application process is simple and fast - our goal is to get the personal representative bonded as quickly as possible so they can focus on their fiduciary obligations. All we need is the bond amount and basic information about the estate.

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Here are some of the factors Jet considers when underwriting a personal representative bond:

How Do You File a Personal Representative Bond with the Court?

Jet (the Surety) and the personal representative must sign the original bond. Jet fills out the bond form, signs as the Surety, and sends the original bond to the representative to sign and file the completed bond with the probate court. Jet will also send the representative an electronic copy of their bond for reference.

Kentucky Probate Bond Filing Process

How Do You Renew the Kentucky Personal Representative Bond?

Jet will notify the personal representative well in advance of the renewal date to ensure timely renewal payment. Jet will notify the attorney (when applicable) and the court if you do not make your payment. If an attorney is involved, they may decide to pay the renewal bond premium, but the fiduciary must reimburse them. The court will set a hearing upon being notified of the failure to maintain the bond.

How Long Do You Need the Bond?

The court will release the bond once the personal representative has paid all debts, distributed all assets, and provided a final accounting approved by the court. If the estate settlement extends beyond a year, the personal representative must submit an annual accounting to the court. After obtaining the release, the personal representative simply needs to email a copy to probate@jetsurety.com so that we can cancel the bond and issue any applicable refund due back to the personal representative.

What Actions of a Personal Representative Can Lead to Surety Bond Claims?

Personal representatives have a critical role in the settlement of an estate and are relied on by the heirs, creditors, and the circuit court to fulfill these obligations. Complaints regarding failure to uphold duties may arise from the heirs and creditors if they feel the personal representative has not settled the estate properly. Your diligence in keeping receipts and records of all transactions as the personal representative is essential.

Some examples of potential actions that could cause a claim:

What Happens if a Claim Is Filed on the Probate Bond?

Upon receiving court notice of a claim on the bond, Jet has 30 days to pay the claim or ask for additional time to review it. Jet works tirelessly to protect personal representatives against faulty claims, which means that even if the court has requested a bond payout, we assess all documentation provided by the court and the personal representative before paying out the claim. However, if a claim is valid and Jet pays the claimant, the personal representative must pay Jet back as the representative is ultimately liable for their actions.

District Court Locations in Kentucky

Below is a list of all the county district courts located in the State of Kentucky, as well as their addresses and contact information.

County CourtPhone NumberAddress
Adair County(270) 384-2626201 Campbellsville St., Suite 101
Columbia, KY 42728
Allen County(270) 237-3561200 West Main St.
Scottsville, KY 42164
Anderson County(502) 839-3508151 S. Main St.
Lawrenceburg, KY 40342
Ballard County(270) 335-5123132 N. 4th St., P.O. Box 265
Wickliffe, KY 42087-0265
Barren County(270) 651-2561100 Courthouse Square, P.O. Box 1359
Glasgow, KY 42142-1359
Bath County(606) 674-218619 E. Main St., P.O. Box 558
Owingsville, KY 40360-0558
Bell County(606) 337-2942101 W. Park Ave., P.O. Box 307
Pineville, KY 40977-0307
Boone County(859) 448-29006025 Rogers Lane
Burlington, KY 41005
Bourbon County(770) 387-5075310 Main St.
Paris, KY 40361
Boyd County(606) 739-4131P.O. Box 688
Catlettsburg, KY 41129
Boyle County(859) 239-7442321 W. Main St.
Danville, KY 40422
Bracken County(606) 735-3328132 W. Miami St., P.O. Box 205
Brooksville, KY 41004
Breathitt County(606) 666-57681131 Main St.
Jackson, KY 41339
Breckinridge County(270) 756-2239111 W. 2nd St., P.O. Box 111
Hardinsburg, KY 40143-0111
Bullitt County(502) 543-7104250 Frank E. Simon Ave., P.O. Box 746
Shepherdsville, KY 40165-0746
Butler County(270) 526-5631110 North Main St., P.O. Box 625
Morgantown, KY 42261-0625
Caldwell County(270) 365-6884105 W. Court Square
Princeton, KY 42445
Calloway County(770) 775-8204312 N. 4th St.
Murray, KY 42071
Campbell County(859) 292-6305330 York St.
Newport, KY 41071
Carlisle County(270) 628-5425985 U.S. Highway 62, P.O. Box 337
Bardwell, KY 42023-0337
Carroll County(502) 732-4305802 Clay St.
Carrollton, KY 41008
Carter County(606) 474-5191100 E. Main St.
Grayson, KY 41143
Casey County(606) 787-6510231 Courthouse Square, P.O. Box 147
Liberty, KY 42539-0147
Christian County(270) 889-6539100 Justice Way
Hopkinsville, KY 42240
Clark County(859) 737-726417 Cleveland Ave., P.O. Box 687
Winchester, KY 40392
Clay County(606) 598-3663316 Main St., Suite 108
Manchester, KY 40962
Clinton County(606) 387-6424100 S. Cross St., Suite 212
Albany, KY 42602
Crittenden County(270) 965-4200107 S. Main St., Suite 202
Marion, KY 42064
Cumberland County(270) 864-2611P.O. Box 395
Burkesville, KY 42717
Daviess County(270) 687-7333100 E. 2nd St., P.O. Box 277
Owensboro, KY 42302-0277
Edmonson County(270) 597-2584110 Cross Main St., P.O. Box 739
Brownsville, KY 42210-0739
Elliott County(606) 738-5238100 Court and Main Streets, P.O. Box 788
Sandy Hook, KY 41171-0788
Estill County(606) 723-3970130 Main St., Suite 207
Irvine, KY 40336
Fayette County(859) 246-2141150 N. Limestone, Room D118
Lexington, KY 40507
Fleming County(706) 312-7254101 North Main Cross
Flemingsburg, KY 41041
Floyd County(606) 889-1672127 S. Lake Drive
Prestonsburg, KY 41653
Franklin County(502) 564-7013​222 St. Clair St.
Frankfort, KY 40601
Fulton County(270) 236-3944114 E. Wellington St., P.O. Box 198
Hickman, KY 42050-0198
Gallatin County(859) 567-5241100 Main St., P.O. Box 256
Warsaw, KY 41095-0256
Garrard County(859) 792-296154 Stanford St.
Lancaster, KY 40444
Grant County(859) 824-4467224 S. Main St.
Williamstown, KY 41097
Graves County(270) 247-17331102 Paris Road, Suite 21
Mayfield, KY 42066
Grayson County(270) 259-3040500 Carroll Gibson Blvd.
Leitchfield, KY 42754
Green County(270) 932-5631200 W. Court St.
Greensburg, KY 42743
Greenup County(606) 473-9869101 Harrison St., P.O. Box 676
Greenup, KY 41144-0676
Hancock County(270) 927-8144310 Hawesville School Drive, P.O. Box 250
Hawesville, KY 42348-0250
Hardin-Elizabethtown County(270) 766-5000120 E. Dixie Ave.
Elizabethown, KY 42701
Harlan County(606) 573-2680129 S. 1st St., P.O. Box 190
Harlan, KY 40831-0190
Harrison County (859) 234-1914115 Court St., Suite 1
Cynthiana, KY 41031
Hart County(270) 524-5181117 E. South St., P.O. Box 248
Munfordville, KY 42765-0248
Henderson County(270) 826-24055 N. Main St. P.O. Box 675
Henderson, KY 42419-0675
Henry County(502) 845-286830 N. Main St., P.O. Box 359
New Castle, KY 40050-0359
Hickman County(270) 653-3901109 S. Washington St.
Clinton, KY 42031
Hopkins County(270) 824-7501120 E. Center St.
Madisonville, KY 42431
Jackson County(606) 287-7783100 First St., P.O. Box 84
McKee, KY 40447-0084
Jefferson County(502) 595-3055600 W. Jefferson St.
Louisville, KY 40202
Jessamine County(859) 885-4531107 N. Main St.
Nicholasville, KY 40356
Johnson County(606) 297-9567908 3rd St., Suite 109
Paintsville, KY 41240
Kenton County(859) 292-6521230 Madison Ave., 3rd Floor
Covington, KY 41011
Knott County(606) 785-502153 W. Main St., P.O. Box 1317
Hindman, KY 41822
Knox County(606) 546-3075401 Court Square, P.O. Box 760
Barbourville, KY 40906-0760
LaRue County(270) 358-3421209 W. High St., P.O. Box 191
Hodgenville, KY 42748-0191
Laurel County(606) 330-2079305 S. Main St., P.O. Box 1798
London, KY 40743-1798
Lawrence County(606) 638-421529 Riverbend Road
Louisa, KY 41230
Lee County(606) 464-8400256 Main St. P.O. Box E
Beattyville, KY 41311
Leslie County(606) 672-250322010 Main St., P.O. Box 1750
Hyden, KY 41749-1750
Letcher County(606) 633-7559156 Main St., Suite 201
Whitesburg, KY 41858
Lewis County(606) 796-305394 2nd St., P.O. Box 70
Vanceburg, KY 41179-0070
Lincoln County(606) 365-2535101 E. Main St.
Stanford, KY 40484
Livingston County(270) 928-2172122 W. Adair St., P.O. Box 160
Smithland, KY 42081-0160
Logan County(270) 726-2424329 W. 4th St., P.O. Box 420
Russellville, KY 42276-0420
Lyon County(270) 388-7231500 W. Dale Ave., P.O. Box 565
Eddyville, KY 42038-0565
Madison County(859) 624-4722351 W. Main St.
Richmond, KY 40475
Magoffin County(606) 349-2215100 E. Maple St., P.O. Box 147
Salyersville, KY 41465-0147
Marion County(270) 692-2681121 N. Spalding Ave.
Lebanon, KY 40033
Marshall County(270) 527-388380 Judicial Drive, Unit 101
Benton, KY 42025
Martin County(606) 298-350814 Court St., P.O. Box 430
Inez, KY 41224-0430
Mason County(606) 564-4340100 W. 3rd St.
Maysville, KY 41056
McCracken County(270) 575-7280300 Clarence Gaines St., P.O. Box 1455
Paducah, KY 42002-1455
McCreary County(606) 376-50411 N. Main St., P.O. Box 40
Whitley City, KY 42653-0040
McLean County(270) 273-3966210 E. Main St., P.O. Box 145
Calhoun, KY 42327-0145
Meade County(270) 422-4961516 Hillcrest Drive
Brandenburg, KY 40108-1241
Menifee County(606) 768-246112 Main St., P.O. Box 172
Frenchburg, KY 40322-0172
Mercer County(859) 734-8452224 S. Main St.
Harrodsburg, KY 40330
Metcalfe County(270) 432-3663201 East Stockton St., P.O. Box 27
Edmonton, KY 42129-0027
Monroe County(270) 487-5480300 N. Main St.
Tompkinsville, KY 42167
Montgomery County(859) 498-59661 Court St., P.O. Box 327
Mount Sterling, KY 40353-0327
Morgan County(606) 743-3763261 Court St.
West Liberty, KY 41472
Muhlenberg County(270) 338-4850136 S. Main St., P.O. Box 776
Greenville, KY 42345-0776
Nelson County(502) 348-3648200 Nelson County Plaza
Bardstown, KY 40004
Nicholas County(859) 289-2336125 Main St., P.O. Box 109
Carlisle, KY 40311-0109
Ohio County(270) 298-3671130 E. Washington, St., P.O. Box 67
Hartford, KY 42347-0067
Oldham County(502) 222-98376822 Central Ave.
Crestwood, KY 40014
Owen County(502) 484-2232401 S. Main St., P.O. Box 473
Owenton, KY 40539-0473
Owsley County(606) 593-622620 Main Street, P.O. Box 130
Booneville, KY 41314-0130
Pendleton County(859) 654-3347120 Ridgeway Ave., P.O. Box 69
Falmouth, KY 41040-0069
Perry County(606) 435-6000545 Main St., P.O. Box 7433
Hazard, KY 41702-7433
Pike County(912) 437-4888175 Main St., P.O. Box 1002
Pikeville, KY 41502-1002
Powell County(606) 663-4141525 Washington St., P.O. Box 578
Stanton, KY 40380-0578
Pulaski County(229) 758-4110155 South First Street Room 110
Colquitt, GA 39837
Robertson County(606) 724-5993127 E. Walnut St., P.O. Box 63
Mt. Olivet, KY 41064-0063
Rockcastle County(606) 256-2581205 E. Main St., Room 102
Mount Vernon, KY 40456
Rowan County(606) 783-8505700 W. Main St.
Morehead, KY 40351
Russell County(270) 343-2185202 Monument Square, Suite 106
Jamestown, KY 42629
Scott County(502) 863-0474119 N. Hamilton St.
Georgetown, KY 40324
Shelby County(502) 633-1287401 Main St.
Shelbyville, KY 40065
Simpson County(270) 586-4241101 N. Court St.
Franklin, KY 42134
Spencer County(502) 477-322027 E. Main St., P.O. Box 282
Taylorsville, KY 40071-0282
Taylor County(270) 465-6686300 E. Main St.
Campbellsville, KY 42718
Todd County(270) 265-2343204 W. Main St., P.O. Box 337
Elkton, KY 42220-0337
Trigg County(270) 522-627041 Main St., P.O. Box 673
Cadiz, KY 42211-0673
Trimble County(502) 255-321330 Highway 42 E, P.O. Box 248
Bedford, KY 40006-0248
Union County(270) 389-2264121 S. Morgan St., P.O. Box 59
Morganfield, KY 42437-0059
Warren County(270) 746-74001001 Center St., Suite 102
Bowling Green, KY 42101
Washington County(859) 336-3761100 East Main Street, Suite 100
Springfield, KY 40069
Wayne County(606) 348-5841100 W. Columbia Ave., Suite 101
Monticello, KY 42633
Webster County(270) 639-916035 U.S. Highway 41 A. South P.O. Box 290
Dixon, KY 42409-0290
Whitley County(606) 549-2973100 Main St., P.O. Box 329
Williamsburg, KY 40769-0329
Wolfe County(606) 668-3736133 Main Street, P. O. Box 296
Campton, KY 41301-0296
Woodford County(859) 873-3711130 Court St.
Versailles, KY 40383
Kentucky District Court Contact Information
Kentucky Personal Representative Bond Form
Kentucky Personal Representative Bond Form

Notary Bond Application:

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: