Section 35.1 When probate bond required(a) Except as otherwise provided in this rule, the court shall require a fiduciary to submit a probate bond whenever required by statute or by the provisions of a will or other governing instrument.(b) The court may excuse the requirement of a bond if:(1) the value of the assets of the estate or the amount of the estate that is not held in a restricted account is less than the amount under C.G.S. section 45a-139(c);(2) the fiduciary is a corporate fiduciary;(3) in a decedent's estate:(A) the will or other governing instrument excuses bond; or(B) each heir or beneficiary of the estate waives the requirement of a bond;(4) in a trust, the will or other governing instrument excuses bond;(5) in a voluntary conservatorship, the petitioner waives the requirement of a bond; or(6) in an involuntary conservatorship, the respondent or conserved person excused bond in a written designation of conservator under C.G.S. section 45a-645.(c) Notwithstanding subsection (b), on motion of a party or on the court's own motion, the court may require a fiduciary to submit a bond if the court determines that a bond is necessary to protect parties or creditors or to assure the payment of taxes or administration expenses.(C.G.S. sections 36a-250, 45a-144(c), 45a-163(a), 45a-164(b), 45a-165, 45a-167(a), 45a-169, 45a-206(c), 45a-242(d), 45a-289, 45a-290, 45a-303(d), 45a-316, 45a-317a, 45a-326(c), 45a-430, 45a-451, 45a-474, 45a-477, 45a-478(c), 45a-483, 45a-499ss, 45a-559c(f), 45a-629(b), 45a-632, 45a-635, 45a-646, 45a-650(i), 45a-654(a), 45a-659(c) and 45a-660(a).)
Section 35.2 Probate bond to be filed before appointmentIf the court requires a probate bond from a fiduciary, the court shall not issue a decree appointing the fiduciary or issue a probate certificate evidencing the appointment until the fiduciary has filed the bond. If necessary to obtain the probate bond, the court may issue a decree or fiduciary certificate granting the fiduciary limited interim authority.
(C.G.S. section 45a-139(b).)
Section 35.3 Corporate surety required(a) A probate bond filed on and after the effective date of this rule shall be secured by a corporate surety.(b) An individual signing a bond on behalf of a corporate surety shall provide written evidence of the individual's authority to sign on behalf of the surety.(c) A bond filed before the effective date of this rule that is secured by a personal surety is deemed to meet the requirements of this rule, provided that a court may require that a corporate surety be substituted for a personal surety if the court determines that the personal surety does not provide adequate security for the bond.(d) A personal surety under subsection (c) who is not a resident of this state shall file a certificate, acknowledged before an officer authorized to take acknowledgments of deeds, appointing the judge of probate and the judge's successors in office to be the surety's agent for service of process.(C.G.S. sections 45a-139(b) and 52-60.)
Section 35.4 Form of probate bondA probate bond shall be on a form published by the probate court administrator or on a substantially similar form.
(C.G.S. section 45a-139(b).)
Section 35.5 Probate bond to secure performance of all cofiduciariesIf an estate has more than one fiduciary, the cofiduciaries shall submit a single bond securing the faithful performance of all cofiduciaries.
(C.G.S. section 45a-139.)
Section 35.6 Amount of probate bond(a) Except as otherwise directed by the terms of a will or other governing instrument or provided by statute or this section, the amount of a probate bond shall be equal to the value of the assets under the control of the fiduciary and anticipated additional receipts of income or assets during the applicable accounting period.(b) The amount of the bond may be less than provided in subsection (a) as follows: (1) if the fiduciary does not have the power to sell or mortgage real property, the court may reduce the amount of the bond by the value of the real property;(2) if the fiduciary deposits assets in a restricted account, the court may reduce the amount of the bond by the value of the assets that are restricted;(3) if all heirs or all beneficiaries of a decedent's estate request bond in a smaller amount, the court may order bond in an amount equal to the amount requested;(4) if a fiduciary is an heir or beneficiary of a decedent's estate, the court may reduce the amount of the bond by the fiduciary's share of the estate; or(5) if the court has approved a structured settlement, the court may order bond in an amount equal to the funds that are anticipated to come under the fiduciary's control during the applicable accounting period.(C.G.S. sections 45a-139, 45a-151(b) and 45a-289(b).)
Section 35.7 Restricted account(a) The court may authorize a fiduciary to establish a restricted account to hold the assets of an estate. Except as specified in an order of the court, the fiduciary shall deposit all assets and income in the restricted account immediately on receipt.(b) A restricted account may be established only by execution of an agreement in the exact form published by the probate court administrator under which the fiduciary and a financial institution approved by the court agree that no disbursements may be made except on written approval of the court.(c) If the court requires the fiduciary to establish a restricted account, the court shall not issue a decree appointing a fiduciary or issue a certificate evidencing the appointment until the fiduciary has filed the fully executed agreement establishing the restricted account. If necessary to obtain the restricted account, the court may issue a decree or certificate granting the fiduciary limited interim authority.(d) Not later than ten days after receipt of any income or assets, the fiduciary shall submit proof of deposit into the restricted account.(e) Whenever the fiduciary is required to submit a financial report or account, the fiduciary shall submit verification that the restricted account remains in force and the most recent statement for the restricted account. The verification shall be on a form published by the probate court administrator or on a substantially similar form.(f) On request of the fiduciary, the court may authorize disbursement of funds from the restricted account. The court may act on the request without notice and hearing. If the court authorizes funds to be disbursed without a hearing, the disbursement is subject to review in connection with the fiduciary's financial report or account covering the period in which the disbursement is made.(C.G.S. section 45a-139(c).)
Section 35.8 Fiduciary to report increase in value of estateA fiduciary from whom a probate bond is required shall file a report listing the receipt of additional assets or income or the recognition of capital gain from the sale of an asset if the aggregate amount of the additional assets, income and capital gain exceeds ten percent of the amount of the bond or $50,000, whichever is greater. The fiduciary shall file the report not later than 30 days after the receipt or sale occurs. The court may require the fiduciary to increase the amount of the bond in accordance with section 35.6 or deposit the additional assets, income and capital gain in a restricted account under section 35.7.
(C.G.S. section 45a-139(b).)
Section 35.9 Adjustments to amount of probate bondThe court may adjust the amount of the probate bond to reflect a change in the value of the estate in connection with the review of an inventory, substitute or supplemental inventory, account or financial report, on receipt of a report under section 35.8 or at any other time.
(C.G.S. section 45a-139(b).)
Section 35.10 Surety on additional probate bondIf the court orders a fiduciary to increase the amount of a probate bond, the additional amount shall be secured by the same surety as the original bond, except that the court may permit a different surety for the additional amount if both the original surety and different surety agree to joint and several liability for the original and additional amounts.
(C.G.S. section 45a-139(b).)
Section 35.11 Release of probate bond(a) Except as provided under subsection (b) or under C.G.S. sections 45a-245 and 45a-331(b), the court shall not issue a certificate releasing a probate bond until the court has approved the fiduciary's final financial report or account and, if required, the affidavit of closing.(b) The court may issue a certificate releasing the bond if the court excuses the requirement of a final financial report or account under section 32.7 or 33.17. Section 35.12 Action on probate bondThe court shall give notice of a hearing on a petition to recover on a probate bond to each party and attorney of record. The court shall send notice to the surety by certified mail.
(C.G.S. section 45a-144; Probate Court Rules, rule 8.)
HISTORY: Rule 35 adopted effective July 1, 2013. Sections 35.2, 35.7 and 35.11 amended effective July 1, 2015. Section 35.9 amended effective July 1, 2017. Sections 35.1, 35.7 and 35.12 amended effective January 1, 2020.
Rule 35 adopted effective 7/1/2013. Sections 35.2, 35.7 and 35.11 amended effective 7/1/2015. Section 35.9 amended effective 7/1/2017. Sections 35.1, 35.7 and 35.12 amended effective 1/1/2020.