One of the aims of the court in Oregon is to protect the vulnerable. When the situation arises that a minor needs to be looked after the court will step in to ensure things are handled properly. If an estate is involved they may go as far as to require a curator bond to protect the interest of the minor against any mishandling.
Why Does Oregon Require A Curator Bond?
The state of Oregon requires a curator bond to guarantee the estate’s assets will not be stolen or wasted by the curator who is overseeing the estate. Without this bond in place, a minor or the heir to the estate would suffer a financial loss and burden should their trust be mishandled. In a proactive step a judge will ask that the bond be posted to show the court good faith that the curator will do his or her duty respectfully.
When a business or a person does not establish a curator bond they can be open to court action. Again, the court is simply trying to protect the interest of the estate, its heirs, and its creditors. While other types of surety bonds may be waived in the state it is rare for a bond protecting a minor, someone who cannot legally consent to such a move, to be waived.
How Much Does A Surety Bond Cost In Oregon?
The amount of the surety bond will vary from county to county in Oregon and will also be determined by the overall value of the estate. Court fees and expenses may also be tacked on to the cost. Any questions about surety cost can be directed by a member of the Jurisco lawyer-trained staff who have extensive knowledge about Oregon’s surety bond process.
Caring for the future of a minor is a big responsibility. Overseeing the estate which could be the minor’s fortune, or misfortune, should not be taken lightly. Watching over an estate so the heirs and debtors are not financially harmed is a great responsibility and the court will expect you to respect it.