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.