Why States Require A Guardianship Bond

Surety bonds protect more than just businesses

A guardianship bond requirement is nothing to ignore. All states require more than just the desire to do goodwill in order to become a guardian. Part of the onboarding and review process involves a review of the guardian's surety bond.

Why A Guardianship Bond Is Required by States

It’s easy to imagine the vulnerable position people are placed in when they are deemed in need of a guardian. When a 3rd party is responsible for their well-being and financial standing, states want to do all they can to protect the vulnerable. That’s why we see New York guardianship bonds, California guardianship bonds, Florida guardianship bonds, and more.  

A guardianship bond is required because it offers financial protection to those under a guardian’s care. The surety bond is used as a security blanket should the guardian misuse funds or otherwise harm the person under their care.

Regardless of the reason, a guardianship requirement cannot be ignored. Failing to comply with the state surety bond statute can result in a person being denied the ability to serve as guardian.

Other Types of Probate and Fiduciary Bonds

Requiring a guardianship bond isn’t the only surety bond mandated by the state. There are court bonds used by plaintiffs and defendants seeking injunctions, garnished wages, or staying a judgment. Then there are license and permit bonds used to register businesses and protect consumers.

Finally, there are probate and fiduciary bonds, which a guardianship bond would fall under. Common types of probate and fiduciary bonds include trustee bonds, administrator bonds, and receiver bonds.

A trustee bond is used when a trust is involved. An administrator bond, also known as a personal representative or executor bond, is employed when overseeing the will of a deceased person. Receiver bonds are used with companies filing for bankruptcy. The receiver bond, or assignee bond as it’s often referred to, handles any payments made to a bankrupt company.

Ways to Lower Your Guardianship Bond Cost

To manage guardianship bond costs, it is always best to work with a reputable surety bond company. Jurisco is a nationwide surety bond provider that is able to offer local expertise on guardianship bonds and other surety bonds. Bond professionals use their experience to offer the lowest surety bond rate possible.

If you want to save money on a guardianship bond and not sacrifice quality, then work with Jurisco. The surety bond experts are available to make sure you have the best surety bond experience you’ve ever had.

Contact Jurisco now to speak with a surety bond expert about guardianship bonds.

Trust the Surety Bond Experts

The Jurisco lawyer-trained staff are here to help you today.