Court Bonds

Guardianship Bonds: What You Need to Know

10.22.2018

A guardian is appointed to assist with financial needs of a minor, disabled, or elderly person. A guardian may be required to obtain a guardianship bond to protect the interest and affairs of the ward in accordance with the applicable state law.

Guardianship bonds, or custodian bonds, guarantee that a person’s guardian acts in their best interest while following all orders of the court and applicable state law. These bonds are necessary when a guardian has been assigned to take care of the financial matters of the one they are serving as the guardian of. Usually, guardians serve to take care of the elderly, disabled, or minors. More specifically, if a person is determined to be incapacitated, a guardian may be appointed to care for their financial matters.

The requisite guardianship bond protects the person subject to guardianship from the malfeasance of the guardian. If the one subject to guardianship has their finances or assets mismanaged or abused by their guardian, the bond functions as a way to gain recovery of those assets monetarily from the surety that provided the bond to the guardian. The surety’s indemnity agreement with the guardian functions as a guarantee that the guardian will repay the surety for what the surety had to pay to the person subject to guardianship due to the guardian’s malfeasance.

Colonial offers the direct and digital way to obtain guardianship 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!