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…
Bond penalty amounts are often defined by state court rules. However, some local jurisdictions have defined additional or modified existing rules. For most people, the very first place to start is an attorney. Unless you are a professional with occupational experience handling financial and personal affairs, like a Professional Guardian, Certified Public Accountant, then you…
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. …
Attorneys often request specific bond amounts based on what they incorrectly believe to be the minimum. “Just give us a 40k bond” or “give us the minimum” or some other arbitrary amount or statement is thrown out without full knowledge of probate bond minimums or requirements. There are many different minimums in regards to probate…
