Guardianship & Trust Bond
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- What will a guardianship bond cost?
Prices are a portion of the bond amount. They will vary depending on the personal credit of the applicant as well as circumstances surrounding the guardianship. Fill out our application online to get approved for a guardianship bond.
- What is the process?
Complete the application online, send us any related court documents, sign the indemnity agreement, send payment and we can get you the bond in a matter of days.
- Can I get this bond with bad credit?
It is possible. However, it depends on the severity of your credit issues. If you have moderate credit problems, you may be able get a bond. Severe credit issues will make you ineligible for a bond. Your chances of getting approved will increase if you have legal counsel to guide you through the process. Apply on our website to determine if you qualify.
- Can I get a guardianship bond without collateral?
Yes. These bonds usually do not require collateral and can be obtained with your indemnification alone.
- Why is this bond required of me?
It is for the protection of the minor or incapacitated individual you are trying to become a guardian/custodian for. The bond guarantees you will fulfill your financial and guardianship responsibilities in the best interests of the individual. Should you fail to properly fulfill your obligations; a claim can be placed on the bond to reimburse them.
- Should I hire an attorney to help?
It depends on the size of the bond you need. An attorney is not necessary for smaller bonds. However, if you need a larger bond, the surety likes to see legal counsel involved to aid in the process as attorneys are familiar with the legal system.
- How long does the bond need to be in place?
As long as the minor or incapacitated individual needs financial supervision. In a minor's case, the bond can be relinquished when they turn 18. The surety will charge a premium for the bond annually based on the bond amount until it is released by the court. The bond amount can be reduced if a request to do so is granted by the courts, resulting in a lowered annual premium.
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What Is A Guardianship & Trust Bond?
Both terms refer to the same bond which guarantees a legal guardian will manage a minor's or incapacitated individual's finances, and fulfill any other guardian duties according to the court's order. Other common names for this bond type include custodian bonds and conservator bonds; all provide an identical guarantee.
How Much Does A Trust Bond Cost?
Costs are a percentage of the bond amount, which is based mostly on the applicant's personal credit. Price is also affected by the circumstances surrounding the guardianship, such as:
- Whether the guardianship is for a minor or disabled individual
- The type of assets to be managed
- If there is assistance from legal counsel
Can I Get A Guardian Bond With Bad Credit?
It is possible. Whether you qualify will depend on the degree of the credit issues. You may be able to get approved for a guardianship bond with moderate credit issues; however, you will not be able to obtain this bond with serious credit problems. It is important to know that surety bonds are a form of credit extended by the bond company, as they are guaranteeing you will fulfill all obligations that the bond guarantees. Apply online to see if you qualify for a guardian bond.