What is a Guardianship Bond?
A Guardian is a fiduciary appointed by the court to manage the estate of a minor or incompetent. Most bonds are written for multiple years, depending on the individual circumstances.
A guardianship bond is a type of fiduciary bond. Like all fiduciary bonds– a subcategory of court bonds– the guardianship bond is required by an assigned person who handles the property and monies of a minor or otherwise incompetent person. Subject to its specific terms, this bond guarantees honest accounting and faithful performance of duties. These bonds are customarily filed in a probate court.
What do Guardianship Bonds do?
Guardianship Bonds work similar to insurance. But instead of protecting you, they protect the person you are caring for. They protect against losses or damages should you (the guardian) behave improperly or unethically. This means if you steal money from a minor’s trust that you are caring for, a claim can be made against your bond, they guarantee you will not abuse or neglect the person you are caring for. And if you do, the minor or incapacitated individual is protected by the bond.
How to get a Guardianship Bond
Our Surety Bonding Agency is a full-service, national surety bonding agency, licensed in every U.S. state to serve all your needs. Our team is proud of our attentive service and quick turnaround times. We provide responsive, knowledgeable assistance to attorneys, fiduciary and other individuals in need of all types of probate bonds and other court bonds.
For further information about guardianship bonds see our article When is a Guardianship Bond Required for Minors and the Incapacitated?, email Jose Ward at email@example.com, call us at 800.921.1008 or fill out an application here.