Which Delaware Probate Bond Do You Need?

November 9, 2017 by · Leave a Comment 

Understanding how to benefit from a Delaware probate bond can make the experience positive instead of burdensome. Probate bonds are a type of surety bond mandated by the state and/or courts. The only way to have the requirement waived is through written exemption or court order. If you need a probate bond in Delaware, the best thing to do is to act now. Don’t delay and end up faced with fines or legal trouble. Delaware probate bonds don’t have to be that complicated.

Types of Delaware Probate Bonds

Probate bonds are one of the most commonly used types of surety bonds in the state of Delaware. The state requires probate bonds because it seeks to protect its residents from the wrongful actions of those entrusted with their estate, lives.

Among the most commonly used Delaware probate bonds are personal representative surety bonds, custodian of veteran surety bonds, and trustee surety bonds. A personal representative surety bond, often referred to as an administrator bond, has that task of overseeing a will after someone’s death. Just from emotion alone, one can imagine the difficulty of the task. The state doesn’t want that difficulty to lead to wrongful action, so they cover the value of the estate with a surety bond.

Similar actions are taken in a custodian of veteran bond. The men and women who serve deserve to be taken care of, everyone does. This Delaware probate bond is specific to veterans since veterans typically bank with service banks and seek medical treatment through government military hospitals. These special circumstances can leave veterans in a vulnerable position. A custodial of veteran bond is a probate bond that provides quick recourse and protection for the veteran.

Meeting Bond Requirements

Each surety bond is designed for a specific purpose preventing the use of a trustee bond in a mortgage broker business, for example. It is imperative that the right Delaware surety bond is secured and for the proper amount and duration of time.

Surety bond experts understand how to meet all the bond requirements from value to deadlines. Letting a Delaware probate bond professional handle securing the surety bond is the fastest way of getting it right.

Delaware Surety Bond Rates

Another perk of working with a Delaware probate bond expert is receiving a low surety bond rate. Being a nationwide surety bond company Jurisco has the resources to deliver expert service and the lowest surety bond rate possible. By keeping bond prices low Jurisco makes the surety bond process even better.

Want to learn more about low surety bond rates in Delaware? Let the bond experts at Jurisco help you have a low rate, full bond protection, and a great experience. Contact Jurisco today with any questions you may have about a Delaware probate bond.

 

Helpful Arkansas Probate Bond Examples

November 2, 2017 by · Leave a Comment 

One of the perks of serving as an Arkansas probate bond provider is working with all the great people across the state. Jurisco is proud to be able to serve Arkansas and help clients in Little Rock, Bentonville, Fort Smith City, and all the small towns booming with character. When it comes to understanding and securing an Arkansas probate bond quickly and professionally Jurisco is there to act.

Examples of Arkansas Probate Bonds

Surety bonds may not be discussed in diners and cafes like college football but they are still part of the state’s tapestry. Surety bonds are used for licenses such as business license requirements or serve as protection in a court case. Probate bonds are another type of surety bond that the state depends on.

Common examples of probate bonds in Arkansas are guardianship bond, trustee bonds, custodian of veteran bonds, and an administrator bond. These bonds involve the court granting power to one person(s) over another (i.e. a child who lost his parents). Without these bonds vulnerable parties are left to fend for themselves. Arizona both as a state and its judicial system require these bonds so there’s more accountability.

An administrator bond is one of the most widely used bonds in the country. Arizona requires an administrator surety bond (also known as personal representative or executor bond) of any party overseeing the estate of someone who died. This bond lays out the framework for how an administrator should handle the task and what happens should wrongful actions occur.

Arkansas Probate Bond Applications

Being a nationwide surety bond company, Jurisco works to make the surety bond experience as quick and pleasant as possible. Surety bond professionals personally work with Arkansas clients to make sure everything is taken care of with no problems. Completing an Arkansas probate bond application is easy with Jurisco. Online surety bond applications are available now so the bonding process can start at any time.

Controlling Probate Bond Cost

Arkansas probate bond experts at Jurisco know all the ins and outs of the state’s surety bond requirements. This means clients can secure a probate bond the same-day they apply. It also means that clients don’t have to pay a lot in fees. Being a reputable surety bond company, Jurisco has the leverage to ensure every Arkansas client receives the best rate possible with the full backing of a nationwide company.

Have questions about probate bonds in Arkansas? Contact the surety bond professionals at Jurisco. Don’t let an Arkansas probate bond become a headache when Jurisco makes it so easy.

 

Types of Arizona Surety Bonds: Mesa Probate Bond

July 5, 2017 by · Leave a Comment 

Probate bonds in Mesa, Arizona can sometimes appear complicated on the surface. Surety bonds don’t really fit the bill for dinner conversations so a Mesa probate bond can be an unfamiliar topic. Despite lacking conversational charm probate bonds are frequently used in Mesa in a variety of situations.

Mesa Probate Bond Examples

An administrator bond is a common Mesa probate bond. This is a type of surety bond used for a person/company who is overseeing the will after someone dies. It goes without saying that this would be a delicate time for all involved parties and the state does not want to add to the situation. The administrator bond gives heirs or those owed a debt from an estate an avenue of financial protection should the administrator fail in his or her duties.

Picture of rock formations in Mesa, ArizonaOther types of Mesa probate bonds include a guardianship bond for an individual serving as guardian or custodian. A receiver bond is used in bankruptcies to ensure those are properly handled. A trustee bond is often used when a third-party is overseeing a trust.

Mesa Probate Bond Expense

One reason why surety bonds are so commonly used in Arizona is their affordability. With a minimum cost of $100 a surety bond can offer all the protection necessary. An alternative to a surety bond requirement is paying the full would be value of the bond. Coming up with this cash quickly isn’t as simple as a trip to the atm.

To receive the best surety bond rate always work with a surety bond expert you can trust. Peace of mind counts and a professional service will take care of everything for you.

Take Care of Surety Bonds Fast

Have you found out you need a probate bond?  Don’t wait to take action. Failing to meet surety bond requirements can come with hefty fines and penalties. A surety bond expert can secure a bond in a same-day turnaround.

The bonds must be for the correct value, time frame, and with the right conditions for them to be approved. Have questions? Ask them, even if it’s just in an email.

Exploring New Orleans Probate Bond Options

April 5, 2017 by · Leave a Comment 

Securing a New Orleans probate bond can be an easy process when working with a surety bond expert. Jurisco has a team of surety bond experts who understand every Louisiana surety bond requirement.  They help clients understand which New Orleans probate bond is right for their situation.

Which Probate Bonds are Required?

There is a variety of probate bonds and each applies to its own set of circumstances. For instance, a trustee bond could not be used to satisfy administrator bond requirements. Below is a list of New Orleans probate bonds that may come into play:

  • Guardianship Bond
  • Receiver Bond
  • Curator Bond
  • Administrator Bond
  • Trustee Bond
  • Custodian of Veteran Bond

An administrator bond applies to an individual or third-party who is overseeing an estate or will. This is one of the most used surety bonds in New Orleans. A trustee bond is required for anyone taking control of a trust. It’s important to secure a trustee bond in the same jurisdiction where the trust is held.

Image of a New Orleans Street taken early in the morning before the crowd begins.Surety bond professionals at Jurisco are on-hand to answer any questions or concerns about New Orleans probate bonds. Working with Jurisco means clients receive the right bond the first time.

Why are Surety Bonds Necessary?

The state of Louisiana requires surety bonds as a means of protecting parties involved in a case. Going back to the trustee bond example, this surety bond covers the trustee against wrongdoing by the individual or party who is overseeing the trust. The trustee bond must protect the full amount of the trust.

Courts and municipalities can add on requirements for probate bonds, but for the most part they stick close to the Louisiana bond guidelines.

Can a New Orleans Probate Bond be Secured within a Day?

The lawyer-trained staff at Jurisco understands the importance of promptness. “It took my surety bond provider too long” is not an excuse accepted by a judge or City. Jurisco works hard and fast to deliver the right New Orleans probate bond to every client. Without delay or worry, probate bonds can be taken care of in just a few steps.

Start the surety bond process now by completing an online probate bond application. These online applications get the ball rolling so bond experts can get an overview of a client’s needs and situation.

Jurisco enjoys working with clients throughout Louisiana. By being experts in the field, Jurisco bond writers make the bond process easier than other bonding companies. Contact Jurisco today to learn more about which New Orleans probate bond is the right one for your situation. The bond experts are waiting to talk to you.

Probate Bonds Required In Washington

June 19, 2015 by · Leave a Comment 

Probate Bonds Required in WashingtonThe 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.

Administrator Bonds

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.

Curator Bond

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.

Trustee Bond

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.

Guardianship Bond

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.

Receiver Bond

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.

Exonerate Surety Bond

February 28, 2015 by · Leave a Comment 

Exonerate Surety BondA trial is over.  The case is settled.  An estate is closed.  What now?  What do you do with the surety bond?

We at Jurisco are asked all the time:  How do you properly discharge (or exonerate) a surety bond once it is no longer necessary, or after all the claims are settled.   More specifically, what does the court require and what does the surety company require to be satisfied that there won’t be any future claims coming against the bond?    This can be a big headache for surety, the court and your clients if not handled properly.  For one, if not properly notified, the surety company will assume that the bond is still active and will continue to operate as such; i.e. keep the risk on their books and bill the client for annual premiums.  This can lead to an accounting hassle for the client as they had been operating as their obligation to the surety (and all claimants was satisfied).

What the surety and the courts are looking for is:  A statement from the court stipulating that “The Surety is released from all future liability and claim against the bond”  Sometimes this will be found in the settlement agreement.  In a non-settled case this language is generally found in the satisfaction of judgement. Surety companies also look for an ‘order of discharge’ from the court stating that the Surety is released from all liability and claims against the bond.   The ‘Order of discharge’ is most often used in probate and elder care cases where bond is required to be kept current throughout the duration of care in a guardianship/conservatorship or for the duration of fiduciary responsibilities is a personal representative is managing an estate through the probate process.

If you have any question about any part of the surety bond process, please contact the experts at Jurisco and one of their staff will be happy to answer any of your queries.

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.

Personal Representatives & Probate Sales in California

December 16, 2014 by · Leave a Comment 

Personal Representatives & Probate Sales in CaliforniaAs one of the most experienced surety bond agencies in the California, we at Jurisco help thousands of clients every year when they are seeking a Personal Representative Bond (aka Executor Bond).  Two questions we often receive are, “What is the process for selling real estate under probate?”  And, more specifically, “What is the difference in Personal Representative responsibilities for ‘full authority’ and ‘limited authority’ designations?”  As to the latter question, the main difference is in reporting to the court; but more on this in a minute.  For the former question, well, there are many resources to help with Probate sales of real property.

Article in the San Francisco Chronicle online (full link: here), and on Fox Business online (full link: here), describe the process of a probate sale of real property, including the steps required by the Personal Representative.   The most detailed summary of the probate sale process, however is provided by the California Association of Realtors (CAR) found: here.  The thorough people at CAR answer almost four dozen of the most important questions a Personal Representative or real estate professional need to know before entering into a probate sale.

Remember the second question from above?  “What are the differences between “full” and “limited” authority pertaining to a probate sale?”  The differences are outlined in the Independent Administration Of Estates Act (IAEA).   As described on the CAR website and under the IAEA:

If the court grants only limited authority to the personal representative, he/she has the power to do all acts allowed under the IAEA rules except the power to: (1) sell real property, (2) exchange real property, (3) grant an option to purchase real property; or (4) borrow money with a loan secured by an encumbrance on real property. With limited authority, court supervision is required.

On the other hand, full authority granted under IAEA rules allows the personal representative to sell real property, exchange real property, grant an option to purchase real property, or borrow money with a loan secured by real property at his or her discretion. (Link)

So you can see the primary differences between ‘full’ and ‘limited’ authority are the ability to sell real property without court supervision.  This is an important factor to consider if you are interested in probate sales or if you have been appointed personal representative and the estate you are administering includes real property.

Since this post is dealing with probate sales, many of the Personal Representatives mentioned above would be required to be bonded in order that other beneficiaries of the estate and all creditors will be satisfied that faithful execution of fiduciary responsibilities will be carried out.  If you or your clients have any questions regarding Personal Representative Bonds or probate sales of real estate, contact the surety bond experts at Jurisco and one of their friendly staff will answer all your questions.

Colorado Personal Representative Bond

September 30, 2014 by · Leave a Comment 

Colorado Personal Representative Bond Who needs estate planning in Colorado?  This questions was posed by Wayne Farlow in ColoradoBiz.com (see full article here: http://www.cobizmag.com/articles/who-needs-estate-planning).  The answer is pretty straight forward:  Anyone who is going to die.  Not to be morbid, but that is the simple truth.  No matter the size of your estate, a little planning can save your beneficiaries a lot of hassle after your passing (at a ripe old age, surrounded by your loved ones).  Without planning your estate will have to go through probate court which will cost your estate money and may even result in the judge requiring a probate bond  (or personal representative bond) for the individual selected to manage the distribution of your estate. Now, in case that last sentence piqued your interest.  Let me further explain the Probate Bond: A personal representative bond is required by the state of Colorado to protect the interest of the deceased’s estate, its heirs and those parties who are owed money. The responsibility of a personal representative (formally referred to as an executor  in Colorado) is taken seriously by the courts. Courts mandate the surety bond as a form of protection for all parties. While the surety bond protects the heirs and creditors of the estate, it is also a protection for the personal representative to ensure she/he fulfills their duties responsibly. Being Appointed As A Personal Representative On average, the deceased will name the personal representative in their will. However, if this does not occur the responsibility could be entrusted to the closest living relative or even to a financial institution (like a bank) that will oversee the account. A Colorado judge may appoint a person to the position after a probate examiner reviews the petition and estate information. Being named as a personal representative of an estate is a big deal. The court holds the overseer to all his or her actions in order to protect heirs and creditors of the estate. The duties of a personal representative, executor or administrator in Colorado include the following:

  • Notifying Inheritors
  • File Will in Probate Court
  • Pay Taxes
  • Distribute Property
  • Open Bank Accounts for Estate
  • Settle Debts

All of these tasks and more, including the day-to-day details, rest on the shoulders of an executor. Given the amount of responsibility an administrator holds it is necessary for the personal representative bond to fully cover these actions. Surety Bonds exist to make the probate and estate planning process more secure; though they can be complicated.  If you have any questions regarding personal representative bonds please dont hesitate to contact the surety bond experts at Jurisco.  A member of their friendly staff will be happy to answer any query that may arise.

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.

 
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