Guardianship Bond Definition
The guardianship surety bond is a type of court bond which is required of individuals in certain states, whenever they are appointed as guardians or custodians of another individual.
Guardians are usually appointed by probate courts to manage and care for the assets, estate, financials and all other important matters of a minor or a disabled person, as well as their general well-being. A guardianship bond must almost always be appointed in such cases, unless it is waived by the court appointing the guardian.
Guardianship bonds guarantee that a guardian will perform their duties as ordered by the court in an honest manner and comply with state regulations for guardians and custodians. They also guarantee that guardians will take into account all the needs of the person they are responsible for, when making decisions about their lifestyle, their residence, health, food and else.
In other words, this type of surety bond protects minors or incapacitated individuals from guardians who take advantage of their position by stealing their money or acting in harmful and uncaring ways.
The three sides that make up the guardianship bond agreement are the principal who obtains the bond (the guardian), the obligee who requires the bond (the state, in this case) and the surety which backs the bond financially.
Guardianship Bond Cost
Guardianship surety bond cost is not fixed.
The cost of the bond depends on the particular guardianship requirements in the state you are required to obtain the bond in. It also depends on your specific case, such as the amount and value of the estate or assets you will be guarding. Furthermore, the cost of the bond also depends on your personal financials.
The most important financial factor is your personal credit score which sureties use to assess your financial stability. Most court bonds require individuals to have a good credit score (usually over 650) but it is also possible to get bonded with a lower credit score, depending on the circumstances.
The cost of your bond will be a fraction of the bonding amount as determined by the court. Depending on your credit score, the surety will offer you a rate which is a percentage of the total amount of the bond.
Bryant Surety Bonds has extensive experience in underwriting court bonds for our applicants. We work with a group of surety bond companies which we have carefully selected over the years.
All of these companies are A-rated and T-listed and licensed to issue bonds in all 50 states! They are among the most reliable and professional companies in the whole industry, which guarantees the quality of your bond’s backing.
To understand how surety bonds are priced visit our surety bond cost page where you can read an extensive description of the process.
How to Get Your Guardianship Bond
Getting your custodian bond is very easy. Simply download the right court bonds application and follow the steps and explanations provided on that page. Once you send us your application you can expect us to get back to you with your free bond quote within a number of days. Approvals for court bonds are fairly fast so you should be hearing from us soon!
Our phone lines are open for you to call us at (866)-450-3412. We will be happy to provide you with further information about court bonds or guide you through the application process.