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Missouri Executor Bond Requirements
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Missouri Executor Bond Requirements

Missouri executor bond requirements: every personal representative files a bond, procured at the estate's expense, unless the will or the court waives it.

By Settled Editorial

A Missouri executor bond is the security a personal representative files before the Probate Division of the Circuit Court will let them act. Missouri requires it by default under RSMo 473.157, but a will can waive it and the court can excuse it. If neither happens, you post a bond, paid for out of the estate, before your letters issue.

This guide explains what the bond is, why Missouri requires it, when a will or the court can waive it, how the amount and the cost are set, and how to handle the bond in your own will. It is general information, not legal advice. Confirm the details with the Probate Division of the Circuit Court where the estate is opened or with a licensed Missouri attorney.

Read this with the Missouri executor duties guide, the Missouri creditor claims guide, and the Missouri probate accounting guide. For the full process, see the Missouri probate guide, and to find your court, see the Missouri Probate Division directory.

What Is a Probate Bond?

A probate bond, also called a fiduciary bond or an executor bond, is a financial promise that the personal representative will carry out the duties of the office honestly. It is not insurance for the personal representative. It protects the people who could be harmed by a dishonest or careless one: the estate's beneficiaries and creditors.

A bond ties together three roles:

  • The principal is the personal representative, the executor or administrator who owes the duties.
  • The obligee is protected by the bond, standing in for the estate's beneficiaries and creditors.
  • The surety is the security behind the bond, usually a bonding company.

Missouri sets the promise inside the bond by statute. The bond is conditioned on the personal representative faithfully administering the estate, accounting for, paying, and delivering all money and property of the estate, and performing everything else touching the administration that the law requires (RSMo 473.157). If the personal representative breaches those duties by taking estate funds, paying debts out of order, or otherwise mishandling the estate, a claim can be made against the bond. Where a corporate surety backs it, that surety pays the loss up to the bond amount and then seeks repayment from the personal representative.

Missouri's Bond Rule

Missouri runs probate through the Probate Division of the Circuit Court for the county where the person lived, or the City of St. Louis, not a standalone probate court. The judge or clerk of that division approves the bond and fixes its amount.

RSMo 473.157 states the default plainly. Every personal representative must execute and file a bond, approved by the judge or clerk, procured at the expense of the estate, with sufficient security, in an amount fixed by the judge or clerk for the protection of interested parties. The requirement reaches every personal representative, so being appointed under the Independent Administration of Estates Law does not remove the bond step. Supervised and independent estates both start with a qualified, bonded personal representative.

One distinction sets Missouri apart from states where a will can excuse only the paid surety. In Missouri, a will can waive the bond itself. That option lives in the next section.

When a Missouri Bond Is Waived

RSMo 473.160 lists the ways a Missouri estate skips or shrinks the bond. Here is how each works.

The will waives it. When the testator expresses a wish in the will that no bond be required, no bond shall be required unless the court, in its discretion, finds it proper to require one, and the court may require a bond at any later time (RSMo 473.160.1). Many attorney-drafted Missouri wills include this direction, which is why a named executor often serves with no bond at all.

The court excuses it on good cause. Even without a will provision, the court can find, upon good cause shown, that a bond is not required for the protection of interested parties (RSMo 473.160.4).

A qualified corporate fiduciary serves. No bond is required of a corporation that, when the court appoints it, holds a certificate from the Missouri director of finance showing it has complied with RSMo 362.590 (RSMo 473.160.3). This covers a bank or trust company acting as personal representative.

Assets go to an approved depositary. The court can reduce the bond amount in proportion to assets deposited with an approved depositary that cannot be withdrawn without a court order (RSMo 473.160.2).

One residency point survives a waiver. A personal representative who lives outside Missouri must file a designation of a Missouri resident agent for service of process before letters issue (RSMo 473.117). Waiving the bond does not remove that step, so a nonresident should plan for it.

How the Bond Amount Is Set

RSMo 473.157 leaves the penal sum to the judge or clerk, set for the protection of interested parties. Missouri does not fix a formula or a multiple. The court sizes the bond to the value of the personal property and the income the personal representative will control, because that is what the fiduciary can move.

Missouri real estate generally passes to the heirs or devisees at death and is administered only when it must be sold under court order to pay debts. That is also why the statutory commission is computed on personal property administered plus the proceeds of real property sold under court order (RSMo 473.153). Solely owned real estate usually stays outside the bonded amount unless the estate has to reach it.

Example. An estate holds $150,000 in bank and brokerage accounts, a house worth $300,000 that passes to the heirs, and about $6,000 of expected income during administration. The court would size the bond to the roughly $156,000 of personal property and income and leave the house out, unless the house has to be sold under court order.

If the estate turns out larger than first estimated, the court can require a larger bond. If assets are placed with an approved depositary, the amount can drop (RSMo 473.160.2).

What a Probate Bond Costs

RSMo 473.157 says the bond is procured at the expense of the estate. So a bond premium is an administration cost, not something the personal representative pays out of pocket.

A cost arises only when a corporate surety backs the bond. The surety company charges a premium, commonly around 0.5% to 1% of the penal sum per year, set by its underwriting and the applicant's credit. When the will waives the bond or the court excuses it, there is usually no premium at all, because no surety company is involved.

Example. A $200,000 bond at a 0.75% annual rate costs about $1,500 per year. If administration runs 18 months, the premium totals roughly $2,250, reimbursable from estate funds. An applicant with serious credit problems may pay more or have trouble qualifying, which is one reason a bond waiver in the will can help.

How to Address the Bond in Your Will

If you are planning your own estate, the useful step in Missouri is to address the bond directly. Because RSMo 473.160.1 lets a will waive the bond, you can spare your personal representative the paid surety and the underwriting.

A Missouri estate planning attorney can include language along these lines (an example for illustration, not legal advice):

"I direct that no bond be required of my personal representative."

A few points worth confirming with your attorney:

  • Name a specific personal representative, and an alternate, so the court has a clear appointee.
  • State that no bond is required, while knowing the court keeps discretion to require one if it sees reason, such as disputes among heirs.
  • Remember that a nonresident personal representative still designates a Missouri resident agent (RSMo 473.117), so consider naming a Missouri resident or planning for the agent step.

If you have an older will, or one drafted in another state, check whether it waives the bond, and update it if it does not.

What Happens If You Serve Without a Required Bond

Filing the required bond is part of qualifying. If the judge or clerk requires a bond and it is not filed, your letters do not issue, and you hold no authority to act.

Acting as though you are the personal representative before letters issue can lead to real problems:

  • The court will not issue your letters, so banks, the DMV, and title companies will not release estate assets to you.
  • Actions taken without proper authority can be challenged or undone.
  • Stepping outside the bonded, court-supervised framework raises your personal exposure if the estate suffers a loss.

If you are unsure what bond the Probate Division will require, ask before your appointment. The requirement is settled at qualification, and handling it up front avoids delay.

Frequently Asked Questions

Does every Missouri executor have to post a bond?

No. Missouri requires a bond by default under RSMo 473.157, but a will can waive it (RSMo 473.160.1), the court can excuse it on good cause (RSMo 473.160.4), and a qualified corporate fiduciary files none (RSMo 473.160.3). If none of those apply, you post one before your letters issue.

Can a Missouri will waive the bond completely?

Yes. When the will expresses a wish that no bond be required, RSMo 473.160.1 says no bond is required unless the court, in its discretion, finds it proper. This is broader than states that let a will waive only the surety, because a Missouri will can waive the bond itself.

Who sets the amount of the bond?

The judge or clerk of the Probate Division of the Circuit Court, under RSMo 473.157, fixes the penal sum for the protection of interested parties. The court sizes it to the personal property and income you will control and can raise it later if the estate grows.

Does the estate or the executor pay for the bond?

The estate. RSMo 473.157 says the bond is procured at the expense of the estate, so a surety premium is an administration cost, reimbursable from estate funds, not a personal expense. When the will or the court waives the bond, there is usually no premium.

Related Guides

This guide is general information about Missouri estates. It is not legal advice. Confirm anything that affects your situation with the Probate Division of the Circuit Court or a licensed Missouri attorney.

Sources:

It is not legal advice.

Information current as of July 17, 2026

Settled Estate is not a law firm, and this content is for informational purposes only and does not constitute legal advice. Probate laws and procedures in Missouri can change. Consult with a qualified attorney for advice specific to your situation. Full disclaimer.

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