Waiver of probate bond
A waiver of probate bond lets a bank, transfer agent, or company release an account or shares to an estate without a full grant of probate. The institution takes on risk when it releases assets without the court's formal grant, so it asks for a bond that protects it if a competing claim appears later.
Reviewed by Dustin SanVido, Estates Program Lead
Who asks for this bond, and why
Banks, investment firms, and transfer agents often hold assets that fall below the threshold where they would normally demand probate. To release those assets faster, they may accept a waiver of probate bond instead. The bond protects the institution, not the beneficiaries, which is the key difference from other estate bonds.
United States note
In several US states, this need is partly addressed by a statutory small-estate affidavit procedure rather than a bond, so it's worth checking whether your state's threshold covers the estate before assuming a bond is the only path.
Canada note
In Canada, this is generally a matter of the institution's own risk policy rather than a specific provincial statute, so requirements vary by bank and by transfer agent more than by province.
How much is the bond?
The bond amount usually tracks the value of the asset being released, and is sometimes set higher for the institution's comfort. The premium is a small percentage of that amount.
How to get one
Bring the institution's request or letter, the details of the asset, and the estate information. Because the requirement comes from the institution rather than a court, the specifics vary, so it helps to talk it through.
Waiver of probate bond questions
What is a waiver of probate bond?
- A surety bond that lets a bank or transfer agent release estate assets without a grant of probate, protecting the institution against a later claim.
Who does it protect?
- The institution releasing the assets, not the beneficiaries.
How large is the bond?
- Usually based on the value of the asset being released, sometimes higher for the institution's own comfort.
A court deadline does not have to be a crisis
Tell us the bond you were ordered to post. We get it issued and filed, so the estate can move forward.