When a court orders a guardianship for someone deemed unable to safely make their own decisions, a fiduciary bond is generally required. These court-mandated guardianship bonds are critical and must be obtained quickly from a trusted source.
Guardianship: The Basics
State laws, regulations and terms differ, but often, courts refer to the person in need of protection as a award.
Wards can be minors, or adults. The most frequent reasons courts order guardianships include Alzheimer’s disease, dementia, coma, stroke, brain injury and mental incapacitation. Guardianships are sometimes also referred to as conservatorships.
Depending on the circumstances, courts can define the specific scope of guardianship. For example, guardianship can be of the person, which generally refers to medical and personal decisions. Guardianship can also entail financial and property management.
The judge makes the ultimate decision on whether a guardian needs to be bonded. A guardianship bond (sometimes also known as a conservatorship bond) is a type of fiduciary bond. These bonds protect the interest and affairs of a ward in accordance with the applicable state law. Importantly, a guardianship bond ensures the ward is repaid money lost in the event of theft by the guardian. The judge determines the amount of the bond.
When the court requests a guardianship bond, the guardian must respond by securing it promptly. Read an example of how this process unfolds in New York State HERE.
A leading provider of fidelity bonds is Colonial Surety Company. With a successful history of providing direct, digital bond services, Colonial Surety has recently launched an even more user-friendly online platform to enable attorneys—and their clients—to instantly obtain needed court bonds, including guardianship bonds.
Colonial Surety’s state-of-the-art technology platform, enables attorneys and other users to instantly obtain court bonds — from the office, at home, or even in the courthouse. 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. You can even do it from your phone. It’s that simple! Obtain Your Guardianship Bond Now
Worth Knowing: Pandemic Guidance for Guardians
Having the legal responsibility to make decisions for others is a heavy burden, even in normal times—and 2020 has thrown many new dilemmas into the mix for guardians. What visitation is appropriate in the midst of a pandemic? What about rising care expenses? Voting rights? These questions and more on the minds of guardians across the country.
To help, The National Guardianship Association, along with the American Bar Association Commission on Law and Aging and the National Center for State Courts, has compiled responses to questions frequently asked by guardians about how to navigate their responsibilities during the COVID-19 pandemic.
Topics include keeping in contact safely, grappling with residential situations (e.g., nursing homes and assisted living facilities) and ensuring that wards receive all COVID-19 and other benefits for which they may be eligible. Keep informed here: FAQ for Guardians
Obtaining and Managing Court Bonds: News for Attorneys
Historically, court bonds have been sold through layers of people and agencies, leaving lawyers and their clients shuffling as they scurry to respond to deadlines. Colonial Surety Company’s innovative, direct, fully digital approach reduces the time, hassle and expense typically associated with these antiquated processes.
Attorneys are invited to obtain a Colonial Surety Partnership Account® to streamline the bonding process. Our unique Partnership Account® will increase your efficiency—and lower costs for clients. See for yourself today: Colonial’s Partnership Account for Attorneys.
Founded in 1930, Colonial Surety Company is a direct seller and writer of surety bonds and insurance products. Colonial is rated “A Excellent” by A.M. Best Company, U.S. Treasury listed, and licensed in all 50 states, the District of Columbia and most U.S. Territories.