Have you ever wondered what happens to a guardianship bond when a guardian or ward passes away? Here’s an interesting fact: in many jurisdictions, the demise of a guardian or ward doesn’t automatically terminate a guardianship bond.
Contrary to common assumptions, these bonds persist even after death, and premiums continue to be due until the Court intervenes. Why does this happen?
The key lies in the potential for outstanding bond forfeiture issues. Until a Final Order is issued or the bond is officially discharged, the bond remains in effect. This unique legal nuance ensures that any potential mishandling of funds, whether by the guardian or the ward, can be thoroughly reviewed by the court.
This insight sheds light on the careful and meticulous nature of legal proceedings surrounding guardianship. If the guardian has deceased and premium remains due, it may be assessed against the guardian’s estate. It serves as a reminder of the intricacies involved in ensuring the proper handling of assets and finances, even in the aftermath of a guardian or ward’s passing.
So, the next time you wonder why the bonding company requires payment for bond renewals after the death of a ward or guardian, remember this fascinating tidbit about their continuity in the face of life’s inevitable conclusion.
How to apply for guardianship bond
Our agency issues more probate court bonds in a week than most agents in a year. We offer online applications, quick response times, and the best pricing available. Apply online for a guardianship bond or Download PDF Probate Guardians Bond Application.
