Once probate or guardianship bonds are issued, in most states, only the Court can change the penalty amount. When requesting to increase a guardians bond, be prepared to provide the following information: Court Order indicating the specific amount decrease, increase or total guardianship penalty amount; Current Accounting or Schedule of Assets resulting in the change…
There are a few different types of retailers offering Probate Bonds. It’s important to recognize the differences between Probate Bond sources. Direct retailers are retail insurance agencies who only offer Probate Bonds from ONE source or carrier. It could be direct from the carrier, or a captive insurance agent. They only have one carrier, with…
Annual Probate Court Bond Renewal Premium The standard across the industry is bond renewal premium is due on the renewal date. This means there’s an initial premium for the first year, then on the anniversary date, an additional premium is due. Either the insurance carrier or insurance agency send the Probate Court Surety Bond renewal…
Ohio Guardian Bonds, as many other states, are typically issued on an annual basis. This means an initial premium is due when the bond is issued. If the guardianship extends beyond one year in length, a renewal premium is due when the guardian bond renews. The premium for the first year of any guardianship bond…
As an insurance agency specializing in Guardianship Bonds, we’re often asked questions about guardianships that are well beyond the scope of issuing a probate bond. We are not attorneys and cannot answer legal questions or give legal advice. Our #1 recommendation is always to obtain an attorney familiar with Ohio Guardianships and Ohio Probate Law. …
