Respecting Guardianship Bond Requirements

August 18, 2015 by · Leave a Comment 

guardianship bond 1A 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.

 

Do You Need A Guardianship Bond In California?

June 17, 2015 by · Leave a Comment 

guardianship bond californiaIt’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.

Guardianship Bonds California

February 11, 2015 by · Leave a Comment 

Guardianship Bond CaliforniaTaking 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.

Guardianship Bonds in California

June 2, 2014 by · Leave a Comment 

Guardianship Bonds in California

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.

Changes in the Colorado Probate Code

December 3, 2013 by · Leave a Comment 

Colorado Probate Code

This spring the Colorado legislature made a few substantive changes to the civil code in Colorado. This could lead to a change in your practice. The surety bond experts at Jurisco know this and will track the changes to keep you up to date. Colorado Senate Bill 13-077 will affect the way conservatorships and estates are regulated and executed in the state. This could affect all probate and estate planning practices.

According to the Probate Blog from the Law firm of Wade Ash Woods Hill &Farley, P.C., the new law has provisions that, “… adds to the factors that are to be considered by a judge when determining the reasonableness of compensation and costs in probate matters, and reaffirms that nominated and appointed personal representatives have legal standing to determine their decedent’s probable intent and estate planning purposes on issues involving the decedent’s estate and it allows those representatives to prosecute or defend their decedent’s intent at the expense of the estate, resolving a previously open question in probate proceedings”. (See the full blog post: here)

This affects many areas of probate including guardianships, estates and how personal representatives are allowed to execute estates.

This new law also has implications on how surety bonds and probate bonds will be handled in cases. For instance now that personal representatives are allowed more discretion to levy out the assets of an estate, more scrutiny will likely be applied to the PR’s qualifications and fitness to control the distribution of the decedent’s estate. A personal representative bond (also known as an administrator bond or an executor bond) will likely be required in more estate matters to guarantee that the PR’s discretion doesn’t stray too far from the orders stated in the will.

With a busy practice it can be difficult to follow all the changes in taking place in Denver. The bond experts at Jurisco will monitor how legislation affects your business.

Custodian of Veteran Bond in Texas

April 15, 2013 by · Leave a Comment 

Custodian of Veteran Bond in TexasCustodian of Veteran bond in Texas work similarly to guardianship bonds in that they oversee the assets of another person. However, the two cannot be interchangeable as the custodian of veteran bond deals solely with veterans of the United States armed forces. While guardianship bonds go through Texas probate court, parties overseeing a veteran’s estate are channeled through the Department of Veterans Affairs (VA). Today we will talk about why a custodian of veteran bond in texas required, its associated cost and how to fill out an online application.

Does the VA require a custodian of veteran bond?

Veterans Affairs may require a custodian of veterans bond, but a Texas court may also step in to enforce the measure. The surety bond is necessary to fully protect the assets of the veteran whose estate is being watched after. You can find a complete list of Texas locations for Veterans Affairs online.

Why would a veteran need a custodian for her/his estate?

The naming of a custodian only occurs when a veteran is deemed incapacitated. Usually a veteran is considered incapacitated due to mental illness, a physical illness, disability, chronic drug use or advanced age.

What are the responsibilities of custodian?

The person named custodian must properly handle all funds received for disability, time of service, etc. He or she is responsible for ensuring the funds are not misspent and that the veteran is taken care of.

How much does a custodian of veteran bond cost?

The cost of all surety bonds depend on various factors including the wealth of an estate, the credit history of the custodian and special state requirements for the bond. A surety bond expert at Jurisco can discuss your particular requirements to give you an idea of the amount.

Can I fill out a bond application online?

Yes, Jurisco makes it easy to fill out a custodian of veteran bond application online. Should this not be the best method for you, our office can fax over a surety bond application today.

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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