Conservator/Guardian bonds protect the ward (the minor or incapacitated/incompetent adult being cared for) and are required of appointed fiduciaries responsible for the management of the estate of a minor child or an incapacitated/incompetent adult. In order to qualify for a Conservator/Guardian surety bond, the applicant must have good credit. The involvement of an attorney is generally required for the duration of the management of the estate.
Conservator/Guardian bonds remains in place until they are released in writing by the probate court, generally this occurs when either the minor turns 18 or the adult ward passes away, and the final accounting has been filed with the probate court & approved by the probate court. Because of this, there is an annual premium charged for these bonds that must be paid until the bond is released from the court. In the case of a minor ward premiums are generally charged for the full term of the bond until the minor turns 18; in the case of adult wards premiums are generally charged for a minimum of 3 years pre-paid, or longer depending on the potential length of the bond.
As a national bond broker with a full line of commercial surety bonds, Allstar Surety makes applying for a conservator bond easy. We’ll help your insured obtain a conservator bond from us quickly, and at a competitive price.