A person entrusted to be a guardian of an individual has to accept a great deal of responsibility. The courts in every state expects that the guardian act in a lawful manner and steer the minor’s estate on the right course. To help protect the interest of the person under guardianship the court requires that a guardian post a surety bond that financially covers their actions.
Courts Protect Interest Of Minors
Requiring a guardianship bond may seem an unnecessary step, however, it protects the guardian as much as the minor. While there are cases of improper handling of finances there are also false accusations to contend with. An individual or business serving as guardian knows that they need to financially protect themselves as much as the minor needs to be protected.
States and courts use the surety bond as a way to prevent a bad situation from getting worse. In the instance where a guardian spends money unlawfully the minor’s estate will be protected and refunded. Alternatively if the guardian is facing a trial to prove his or her innocence then the surety bond will be there to help. In these situations the guardianship bond greases the wheel to help keep things running as smooth as possible.
Learn About All Surety Bond Options
In some situations an individual or company will be consulted about their role as a prospective guardian. When considering the undertaking make sure to discuss the surety bond requirement because if the person does not feel it necessary they can go on record saying they do not personally require the bond.
Part of understanding the role of guardian is learning what the wishes for the minor and the estate are so a plan can be formed to take the best course of action. One of the first steps in this process is obtaining a guardianship bond from a credible bonding company. The cost of the bond will vary and is often influenced by the value of the estate being guarded.
Any questions about guardianship bonds or other types of surety bonds may be answered by the lawyer trained staff at Jurisco. Protect all parties by fully understanding the surety bond options concerning guardianship.
The state of Washington may require a person or company take out a probate bonds should that person or company be in charge of a person’s estate, will, or trust. Even if the court does not specifically require a surety bond, the person or company charged with overseeing another’s assets may want to take that extra step and receive a bond so they can protect themselves against legal recourse should an outside party find fault with their actions.
Here are a few types of probate bonds that may be required in the state of Washington: administrator bond, curator bond, trustee bond, guardianship bond, receiver bond, custodian of veteran bond.
Courts require an administrator bond (also known as a personal representative or executor bond) when a person or firm is placed in charge of a person’s estate after their death. The administrator must post the bond to financially cover the distribution of assets. This gives the estate legal protection should the assets be mishandled and debts are not paid.
Another type of estate protection is a curator bond. The court will determine how much the bond should cover by reviewing how much the estate assets are worth. Like an administrator, a curator bond protects the heirs and those who are owed money by a deceased estate.
A trustee bond is what it sounds like, a bond that protects the trust from any financial losses should the trustee not fulfill his or her obligations managing the trust. Often times the court requires this type of probate bond to protect the financial interest of the trust recipients. Without this protection people are vulnerable to a large financial loss.
When a person has been appointed guardian over another individual or an estate they must take out a probate bond to ensure the court they will handle the account in good faith. Should the court find that the guardian overstepped their bounds or did not live up to the expectation they can fall back on this probate bond to provide restitution to the estate.
A company that is going through bankruptcy may be required by the Washington courts to take out a receiver bond, a type of surety bond. This probate bond shows the court that the company will take care of any outstanding bills, rent, or debts. Should any mishandling of the accounts occur, the receiver bond will provide jurisdiction protection. The bond amount will be determined by the courts to insure any wrong action taken by the overseers of the account will not result in further financial loss to those who are owed funds.
Custodian of Veteran Bond
This type of bond protects a member of the armed services who has been declared incapacitated. The man or woman who served their country and invested money with Veterans Affairs will be taken care of by a custodian of veteran bond. Like a guardianship bond, this probate covers the soldier’s estate and protects the veteran’s assets from being misused or mishandled.
What do all these probate bonds have in common? They are all designed to protect the estate, heirs to the estate, or the individual deemed incapacitated. Any financial mishandling will not result in a loss to the individual, instead the probate bond will protect them against any financial loss and give them peace of mind knowing that their bills will be paid and their financial livelihood will be upheld.
It’s in the news and minds of people who are realizing just how many Senior Citizens are going hungry and losing their homes in this country. As presidential hopeful Senator Bernie Sanders described it, the fact that senior citizens are going without daily meals or medicines should be a concern to everyone as it is a reflection of society. How should your parents or grandparents be treated as they reach that golden age? A guardianship bond can help make sure that people are taken care of respectfully.
When people reach a point where they need a little extra help taking care of their schedule, meals, and home it may be time to seek out a guardianship bond. This type of surety bond allows people some piece of mind knowing that the person granted guardianship will uphold their duties or face the wrath of the law.
It is important to realize that guardianship bonds may be needed in other cases other than an aging senior citizen. There are circumstances when minors or young adults also require having a guardian appointed by the court. Whomever is appointed must abide by any legal instructions and not cause harm, physical or financial, to the person requiring guardianship.
Jurisco can make the guardianship bond a relatively easy process. With just a few questions, the team at Jurisco will determine how much a guardianship bond will cover, how long it needs to last, and figure out which forms need to be given to the higher courts.
Protect those that are near to you by making the court require a guardianship bond. This way a person’s legal estate will be fully protected in case of any mishandling by the guardian. Don’t leave the vulnerable at risk. Contact us today to setup the protection a guardianship bond provides.
As an attorney, it is necessary to look at the case from all angles. That includes what will happen in the event of a victory and in the chance of defeat. Part of this preparation means reviewing which Types of Surety Bonds may be required on the behalf of the client. Now this, of course, changes on whether or not the client is a defendant or plaintiff.
Perhaps two of the most common surety bonds a defendant will need is a counter replevin bond and an appeal bond. Both give the client a little judicial wiggle room to get around a court’s ruling. Other types of surety bonds include a release of lien bond and a release of lis pendens bond.
A counter replevin bond is used when a defendant has already had their property taken away or levied. This surety bond shows the court good faith that if the property is returned to the defendant before a judgement is made that the property will be turned back in, in the same condition, so the plaintiff does not have a financial loss.
An appeal bond is probably the surety bond most people hear about. Once the court makes their final ruling the defendant has the right to appeal the decision. However, that does not mean the plaintiff has to wait for the money judgement to be paid. With an appeal, or a stay bond, the bond is financial proof that the money will be paid should the appeal court make the same decision as the first course.
Defendant bonds are designed to protect the plaintiff against a loss and prove to the court that the defendant is working in good faith. Whenever reviewing a client’s case it may be beneficial to go ahead and plan ahead for these bonds so they do not miss the window of applicable time. For instance, once the court makes their ruling the appeal to stay the judgement bond should already be prepared to give it a better chance of being accepted.
Types of plaintiff bonds include garnishment, attachment, replevin, cost, indemnity to sheriff, injunction, distress or distraint, lis pendens, and lost instrument bond. All of these will not be required in one case. Reviewing the Jurisco site will breakdown what each of these surety bonds entail and what cost can be expected.
A garnishment bond is required by a plaintiff in order to protect the defendant against unlawful wage loss. These types of bonds are necessary when the plaintiff feels the defendant owes them money and that the only recourse available is to garnish the defendant’s wages. However, should the court ruled that the defendant does not owe the plaintiff money, or the amount that was garnished, that the plaintiff will financially compensate the defendant for their loss.
An indemnity to sheriff bond may be a surety bond that is not referenced frequently, but is actually very helpful especially to law enforcement agencies. When properties is taken by a sheriff’s department on behalf of a plaintiff they have to be financially covered in case the court rules this action was unnecessary or done with ill-will. To protect the agencies involved in this process the plaintiff has to put up a bond saying that the agency is not the party responsible for damage or a financial loss.
To know which plaintiff bond to use contact a member of Jurisco to discuss the case and plan out the appropriate course of action.
Other Types of Surety Bonds
There are other types of surety bonds that don’t always get played out in the court room. For instance, a guardianship bond and administrator bond are basically there to ensure those in charge of a person or an estate do their due diligence without neglect to their client.
A guardianship bond comes into play in the event that a young child loses his or her parents. The guardianship bond is the court’s way of protecting the minor against neglect whether it be in the matter of physical care or misuse of estate funds.
An administrator bond is usually employed when a deceased person has a will with assets to be distributed. To make sure all parties are treated fairly and that all debts are paid, an administrator must take out an administrator bond to financially cover his or her bases to prove they will work in good faith and due course.
Choosing The Right Surety Bond
Still having a hard time determining which surety bond is the right one for a client or circumstance? Let the team at Jurisco help. Our trained staff understands the ins and outs of all surety bonds and when they need to be employed. They will also help explain the cost associated with all the surety bonds, when they need to be filed, and how long they will last.
Taking Care of Loved Ones With Guardianship Bonds in California
A recent article on Huffington Post by anti-elder abuse advocate Carol Herman outlines the much too common tragedy of when Guardians neglect and abuse their wards (full article found here: http://www.huffingtonpost.com/carole-herman/conservatorships-beware_b_1785309.html)
As the baby boomer generation gets older they are reminded just how much times have changed when their kids no longer have the funds nor the time to take care of them as they would just a few decades ago. Now families live in single unit housing and are often separated by state lines from their loved ones. This can make it especially hard when that special person in your life is declared incompetent or where a judge has ruled that a guardian should be named to oversee an estate or a person’s life.
Think of a guardianship bond as extra protection for the ones you hold most dear because in reality that is what it is doing. With this type of surety bond, Jurisco can protect your estate and family by making sure the guardian does everything he/she is supposed to do and without making too many withdrawals from the family bank. A guardianship bond serves as a surety to ensure the guardian upholds their end of the bargain and does so with no ill will.
Loved ones can be declared incompetent due to age, disease, or for any number of reasons. If you think this ruling has been unjust, Jurisco can help you there too. Using this type of surety bond brings peace of mind to people who cannot be there physically to do the work of a nurse, hospice worker, or other at home aide worker. A guardianship bond will protect your loved one’s interests and help ensure their quality of life does not decline simply because they are declared incompetent.
While this scenario rings true with grandparents and the elderly, age isn’t going to stop the court from ruling someone incompetent. Children who are under the age of 18 may require a guardianship care should they lose their parents, for example.
Whatever the reason, Jurisco can help secure a guardianship surety bond that will protect the interest of the family, business, or estate. Our team has the tools necessary to help make the transition an easy one and make sure everyone is on the same page. At the end of the day we just want to ensure people are taken care of the way they deserve to be. Let us help you by helping them.
In California, Professional Guardians play a vital role in the well-being of the state’s elderly and disabled. Let’s face it: In today’s society, Guardians are essential. And with great power comes great responsibility and, also, a greater risk of system abuse. The and that is why there are checks put in place by the California legal system to those in most need of protecting. A Guardianship Bond is one of those checks. Mandatory licensing by the office of the California Consumer Affairs is another (see here for more info: http://www.fiduciary.ca.gov/). The Guardianship bond is required when a person may be deemed incapacitated by the court by either infirmity or age. In these cases, the probate court may appoint a guardian to handle the incapacitated person’s (ward) financial and physical affairs. Requiring a guardianship bond ensures the person is not mistreated or taken advantage of financially.
It has been many years since the tradition structure of family living dissipated. Rarely now do you find three generations of a family living together and and rarely do parents have the time or resources to care for the permanently disabled. Things that used to be common are now the exception. And families must trust strangers to care for grampa. A story I recently read on SantaCruz.com by author Georgia Perry got me thinking about this. (See story here: http://www.santacruz.com/2012/07/31/guardianship_case_highlights_plight_of_elderly/)
Loved ones shouldn’t be frightened by the occasional bad story. Rather, they should be careful. Because, by and large, California’s Professional Guardians are a wonderful and trustworthy group. And they care they provide can make you life, and the life of a disabled loved one, so much better.
If you are looking for a professional guardian or are already a Fiduciary and are interested in learning more about the requirements for a Guardianship Bond in California, please contact the bond experts at Jurisco and their helpful staff will provide you with all the information you require.
Did you know that in 2007 the California legislature passed into law the Professional Fiduciaries Act and as of January 1st 2009 it became necessary for any fiduciary to be licensed if they were to legally operate in the state. In the legal world a Fiduciary is defined as, “An individual in whom another has placed the utmost trust and confidence to manage and protect property or money. The relationship wherein one person has an obligation to act for another’s benefit.” Professional Fiduciaries in California Bureau is the the state licensing body that sets the definition of a ‘professional fiduciary’ for California. Generally, a professional fiduciary requires a license if they are a conservator or guardian for two or more people; or a trustee or agent under durable power of attorney for health care or finances for more than three people.
Currently there are over 500 professional fiduciaries licensed in California, representing many more estates and individuals. And these professionals manage over 6 billion dollars in assets. Commonly and throughout the year, these professional fiduciaries are required to post a surety bond. For the newly licensed this can seem like a big obstacle. It doesn’t have to be. Experienced fiduciaries know that the acquiring a guardianship bond, a trustee bond or a personal representative bond in California can be a quick and easy process.
The bond experts at Jurisco have been serving the needs of professional fiduciaries in California for years. If you have any questions about the surety bond process please contact a representative at Jurisco and they will be happy to answer your questions.
The digital age makes things easier and more convenient including court bond applications. Jurisco strives to keep our surety bond application process straightforward and efficient that’s why we make all our Court Bond Applications Online. Clients may fill out surety bond applications for executor bonds, probate bonds and fiduciary bonds on the bond application page.
Each court bond applications describes which information is necessary for bond approval. The applications are designed for the corresponding bond to make the bonding process faster and easier to understand. A guardianship bond application, for example, asks for a financial statement since it deals with the handling of an estate. An appeal bond application requires the amount of judgment, case number and name of the appellant court.
We know even with the convenience of the Internet that some clients prefer a more “hands on” approach. A member of the Jurisco surety bonding staff can fax or mail the bond application if that suits your purposes better. And at anytime, if you have a question, our staff is here to explain the application and bonding process in greater detail.
The term fiduciary bond covers judicial bonds guaranteeing the duties by a fiduciary (a person entrusted with property and/or power for the benefit of another person, estate). In Georgia, there is a variety of fiduciary bonds. Today, the Jurisco surety bond blog covers four common fiduciary bonds in Georgia: guardianship bond, executor bond, trustee bond, and custodian of veteran bond.
Fiduciary bonds are similar to one another, but not interchangeable. They each deal with specific situations and have a different set of requirements. The goal of fiduciary bonds is to prevent the mishandling of an estate and offer legal recourse in the event such mishandling occurs. Readers who have any questions about fiduciary bonds in Georgia or any other state may contact Jurisco to speak with a surety-bonding expert.
A guardianship bond guarantees the guardian will not abuse nor neglect the ward financially or physically. Often times, courts in Georgia will require this bond to cover the value of the ward’s assets. The Court uses guardianship bonds to protect persons who cannot look after their own affairs. A person who is may require a guardian, as would a child whose parents are deceased.
A trustee bond is a type of fiduciary bond, which guarantees the trustee handles his or her duties appropriately, and without causing the trust a financial loss. The trust document itself often calls for a trustee bond, however, a Georgia court may require this bond if the document does not. The value of the trust determines the surety bond cost, as does the Georgia County in which it is held.
Custodian of veteran bond is similar to a guardianship bond except it is designed specifically for a veteran of a branch of the United States military (i.e. Army, Marines, Navy) who is incapacitated and has invested his or her money with the Department of Veteran Affairs (VA). To protect the interest of the veteran, the VA requires a guardian file a custodian of veteran bond with the Department of Veteran Affairs regional office in Atlanta.
Georgia requires executor bonds (often referred to as Probate Bonds) for any person and/or company serving as an executor to an estate. The executor must pay all estate debts, notify beneficiaries, pay taxes and handle other duties properly to avoid a loss. Often times this surety bond requires the assistance of an attorney. The cost of guardianship bonds varies depending on the estate, but bond premiums are paid annually until the estate is settled.
All four of these fiduciary bonds have applications online for your convenience. A Jurisco representative may also fax over the appropriate applications should that serve you better.
Today the Jurisco surety bond blog looks at guardianship bonds in the state of Florida. Should you have a need for a guardianship bond in Tallahassee, Orlando, Miami or any other Florida city feel free to contact a surety bond expert at Jurisco for assistance. You may also respond to this blog with any questions you may have.
Why is a guardianship bond required in Florida?
Courts require guardianship bonds in Florida to protect the ward and their estate from any wrongdoing of a guardian. This surety bond protects the financial interest of the person’s estate in the event a guardian does not execute his/her role appropriately.
What types of cases require surety bonds in Florida?
Many guardianship bonds are involved in cases when the parents are deceased leaving behind a child who is under the age of 18. This is called a “Guardian of Minor Bond”. What makes these different from a standard guardianship bond is that the premiums must be paid until the minor’s age of majority. The good news is that there is a discount for every year prepaid after the first.
A person declared incapacitated after an accident or illness may also be appointed a guardian. The court may also appoint a guardian for a person deemed mentally incompetent to maintain his or her own affairs.
Who assigns guardianship?
A Florida judge will appoint a guardian to oversee the daily care (i.e. healthcare, education, business affairs) of the individual. Courts take recommendations from family members and friends of the person requiring assistance. The judge may place special conditions on the guardianship such as the extent of the guardian’s power and when the matter should be reviewed again.
Is this the same a custodian bond?
Guardianship bonds are often called custodian bonds. The names are interchangeable with all the requirements remaining the same.
How much will a surety bond cost in Florida?
Guardianship bonds are going to vary on cost depending on the Florida courts ruling. A guardian may be required to cover business affairs and handle the financial estate, which would increase the amount of the bond. Bad credit of a guardian can also play a role in the cost. To get an estimate on the cost, contact Jurisco.