Guardianship Bonds assure ward and potential heirs Guardian will handle affairs and finances properly. Guardian Probate Bonds offer significant protection against malfeasance. If misappropriation occurs, Probate Court can order Guardianship Bond pay amounts owed.
Easy Approval for your Guardianship Bond
For an easy, straight forward, fast approval for your Guardianship Bond Application, it’s best for applicant to have the following:
- Good Credit/Financial History. Guardians Bonds are different than insurance in that they are not the final payor of any associated claims. Insurance carrier is only a guarantor (or ‘co-signer’) for Principal and will seek to collect any claims paid. They guarantee to pay an amount up to bond value, but will then collect anything paid back from applicant/Principal. Applicant should have good history handling personal financial affairs. Those with bankruptcies, foreclosures, repossessions, or collections activity might face much higher rates and less favorable terms;
- Probate Attorney. Many nuances exist within Probate and Guardianship Law. A Guardian is held responsible for expenses not authorized by the Court. If this happens, bond will be ordered to pay out by the Probate Court. Insurance and Bonding agents are not attorneys and cannot offer legal advice. Unless Guardianship Bond Principal has extensive and successful prior experience with handling Guardianship affairs, most insurance carriers require an attorney is involved.;
- Know the Bond Amount. We can point you to court rules specifying bonding requirements, but we also see Probate Judges and Guardianship Magistrates who order what seem like different amounts all the time. Many courts will accept court application without probate bond, then during first hearing they will order specific bond amount. While bond penalty can always be changed, it’s much quicker to start with correct bond amount. If you’re unsure of bond amount, try filing without and let court order bond.
Discover Instant Delivery of Guardianship Bonds
Guardianship and probate bonds are readily issued and easy to obtain if you have a good financial background, attorney and know the bond amount. Our agents issue hundreds of guardianship bonds with over a decade of experience. We’ll underwrite bonds prior to submitting to insurance carriers to help you get a bond fast!