New York Guardianship Bond

May 2, 2017 by · Leave a Comment 

One of the most frequently asked about bonds in New York is the guardianship bond. New York guardianship bond mandates apply to an individual applying to be a guardian. This type of surety bond does a lot of good and offers vast protection against wrongful harm. Jurisco offers same day service for the majority of guardianship bonds in New York. Let the surety bond experts take care of the details.

Why Is A Guardianship Bond Necessary?

A guardianship bond is employed by New York to cover an individual in the event their guardian mistreats them financially or physically. Surety bonds are often used as a form of protection providing people with a form of recourse. A New York guardianship bond is required in the majority of cases where a person is placed under guardianship. Typically, this bond is waived when it’s another family, however, court’s often err on the side of caution and uphold the mandate.

Image of the New York Skyline take across the Hudson River at twilight. THe sky is a hue of purple and pink.What Happens If A Bond Is Not Used?

When a New York guardianship bond isn’t used both the person and the guardian are left in a vulnerable position. If a guardian mishandles funds or mistreats the person under their care, there are still grounds for the Court to take action even without the bond. However, with this New York surety bond, relief is found faster and there isn’t an unwarranted financial hardship.

Guardians who ignore the mandate face additional legal action for failing to comply with state rules. This could tie the guardian up in court or leave them facing a large fine. If a guardian refuses to secure a bond that could be used as grounds to deny their application and/or revoke their guardianship.

How Long Does A New York Guardianship Bond Last?

The terms for a guardianship bond are determined by the facts of the case. Age, value of estate, location, and health can play a role in the lifespan of a guardianship bond in New York. Jurisco works with clients on a range of these guardianship terms. Surety bond experts always deliver the right conditions making sure clients get the most out of their bonding experience.

Have questions about how to meet guardianship bond New York requirements? Contact Jurisco today and learn more about the benefits of a New York guardianship bond and how to receive a low surety bond rate.

Stay Bond (Pending Appeal) In New York

October 28, 2015 by · Leave a Comment 

Stack Of CashMoney judgments can be tough on the most resilient of beings and largest of businesses. When a defendant is required to pay out a large sum of money there may be the possibility of taking away the opportunity to appeal because of financial reasons. The courts in New York handle the issue through a stay bond (pending appeal bond).

Access To Appeal

A defendant in New York who is facing a hefty money judgement but still believes confidently in an appeal has one recourse to stop the collection of money and that is a stay (pending appeal) bond. This type of New York surety bond covers the money judgement, insuring its payment, while allowing the defendant to appeal the decision.

A stay bond shows the court that the defendant is not making the appeal in an effort to delay payment to the plaintiff. Since the surety bond covers the amount of the money judgement the court will accept a stay bond to put off having to pay until after the appeal process has worked its course.

Taking this course of action allows the defendant a chance of negating the judgement or even reducing the amount. This is why the New York courts want to make the appeal process open to all defendants. A stay bond helps defendants navigate this process without the extra burden of a money judgement.

Contact Jurisco

The Jurisco office will answer any questions about a stay bond in New York or any other state. A team of highly trained professionals can help write a stay bond quickly meeting all state requirements to reduce the chance of court rejection. Let Jurisco deliver a stay bond that covers the money judgement and all court mandates so the appeal process can move forward.

When A New York Business Needs An Appeal Bond

September 2, 2015 by · Leave a Comment 

new york appeal bondOne of the risks all businesses face is facing a lawsuit that could harm their ability to operate. Bars and nightclubs and New York deal with lawsuits not only as a risk but essentially an inevitably if they operate long enough. These lawsuits can come with a hefty price.

A recourse a business may have to use should they find themselves a defendant in a case is an appeal bond. In order to stay a financial judgement, and head towards an appeal, a defendant must prove to the court that the judgement is not being sidestepped with ill intent. An appeal bond is a surety bond which meets that burden of proof.

Dealing With Frustrated Customers

Customers who feel they have been wronged, cheated, or harmed by a company often seek legal recourse. Litigation can be costly for a business, especially if the matter is taken to a judge and jury.

A nightclub owner, for example, may have to deal with a patron who was injured on their property or who was served alcohol when they were clearly past the level of acceptable intoxication. Even a simple slip and fall case can close a business’s door.

Being protected against these lawsuits and large payouts are a must for all New York companies. Which is why being prepared to appeal if a ruling goes in the plaintiff’s favor is important. The option of staying a judgement and appealing to a higher court often gives the business an opportunity to clear up the issue without having a money judgement placed against them.

Using An Appeal Bond

An appeal bond is a type of surety bond required by the state of New York when a defendant wishes to stay a judgment, financial or otherwise while they make their case to a higher court. Because justice isn’t to be delayed, the court will not accept the defendant to ignore the lower court’s ruling simply because they want to appeal. Instead, they expect the defendant to make restitution to the plaintiff without delay.

In order to show the court that the defendant is not attempting to ignore the ruling or the plaintiff’s rights, they can post an appeal bond that covers the amount granted in the judgement. With this bond in place, the court is content with the defendant’s actions and the plaintiff’s rights.

Setting Up A Supersedeas Bond

Often times an appeal bond may be referred to as a supersedeas bond. No matter which name is used they are essentially the same bond. The Jurisco office can assist you with establishing a supersedeas or appeal bond quickly.

By keeping the process simple and speedy, Jurisco can easily meet your surety bond needs so the appeal process can begin as needed.

When dealing with a case that may result in a money judgement it is considered wise to plan for an appeal so there is no delay should the need present itself. This, of course, covers knowing which court the appeal would be sent to, which documents to file, and having a surety bond – an appeal bond – in place so the process can be as smooth as possible.

 

New York Fiduciary Bonds

February 22, 2012 by · Leave a Comment 

New York Fiduciary BondsNew York fiduciary bonds cover a wide range of responsibility, but usually stem from the need to protect one person’s assets from the misuse of another person. New York Fiduciary bonds are required courts to cover the actions of a guardian or fiduciary acting on the behalf of a ward or a deceased individual. Surety bonds including curator bond, personal representative bond, and custodian of veteran bond all hold the party overseeing an estate accountable for fulfilling their duties, including paying off debts and properly distributing assets.

Curator Bond

When a person dies, an administrator will be appointed to administer their estate. However, the administrator may be unable to administer the estate for several reasons, including lack of a beneficiary. This puts the estate in curator status as a search for beneficiary or heir progresses. New York courts require a curator bond to protect the interest of the estate against mishandling by a curator.

The curator is responsible for protecting the estate against a loss until the estate can be administered properly. This heavy responsibility could result in a loss for the estate debtors and beneficiaries. Courts take the value of the estate, and court cost involved in the case, into consideration when setting the curator bond cost. The surety bond cost for a curator bond varies county to county in New York.

Personal Representative Bond

Personal Representative Bonds may be referred to as Administrator or Executor bonds in New York depending on the region. Courts require this surety bond when an individual dies and directs an administrator to distribute their assets and finalize their expenses. To protect the heirs and creditors of an estate, a personal representative bond covers the financial worth of the estate against any wrongdoing by a personal representative.

Some last will and testaments include a provision waiving the requirement of a personal representative bond, but the courts have the final say on the surety bond. The individual who is now deceased may have had great faith in their appointed personal representative; however, that does not extend to the court’s confidence. The court has a duty to protect all interests in this situation. When an executor fails to pay back taxes or properly notify beneficiaries the personal representative bond financially covers these mishaps.

Custodian of Veteran

Veterans of the American Armed Services deserve honor and respect for their service to their country. While war is not to be glorified, those who stand to fight should be protected when they can no longer represent themselves. Custodian of Veteran bond is a surety bond filed with the Department of Veterans Affairs after a service member is deemed incapacitated. This surety bond is similar to guardianship bonds in that it protects the incapacitated against a wrongful financial loss and mishandling of their estate by the person overseeing their assets.

Custodian of Veterans bond is only filed when the assets include money invested with the Department of Veterans Affairs. The department requires a custodian of veterans bond covering the worth of the estate. Without this bond, the veteran is vulnerable to damages. The guardian overseeing the veteran’s estate is also vulnerable to legal action for not following guardianship procedure.

To discuss the cost of a New York Fiduciary Bonds, or any other surety bond, contact Jurisco. A bonding professional will answer any questions you have about the injunction process and bond mandates.

 
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