Conservators are appointed to assist with the financial needs of a minor, disabled, or elderly person. A conservator may be required to obtain a conservator bond to protect the interests and affairs of the conservatee in accordance with the applicable state law. The requirements of the bond may vary from state to state.
Whether it is due to age, disability, or illness, conservators are appointed to take care of the finances of the person unable to make financial decisions due to that age, disability or illness related restriction. The type of person who may require a conservator includes someone in a coma, someone mentally challenged, someone with Alzheimer’s disease, a minor, or someone with brain injuries rendering them incapable of making financial decisions. These people are said to be incapacitated.
A conservator bond is required by the courts in order to properly protect the interests and affairs of the conservatee in accordance with applicable state law. The surety your bond is purchased from would be responsible for your losses to the conservatee, but the indemnity agreement you sign with the surety guarantees that the conservator will repay the surety for losses caused to the conservatee resulting from a violation of the conservator’s duty under the applicable state law.
Colonial offers the direct and digital way to obtain conservator bonds. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your court bond instantly. The steps are easy — get a quote online, fill out your information, satisfy underwriting requirements, and enter your payment method. Print or e-file your bond from your office. It’s that simple!