The purpose of appointing a guardian to an incapacitated or disabled person is to allow the guardian to make decisions for the incapacitated or disabled person that they cannot make themselves. Both financial and non-financial decisions may come due for someone who fell into a coma or had a traumatic brain injury, and they may not be able to make them themselves anymore. That’s where the guardian comes in.
Many of those financial and non-financial decisions can have an impact on the family of the incapacitated or disabled person if not properly managed. Real estate may need to be renovated or face losing value. Investments may need to be sold to recoup the most value possible before the market falls. There are many decisions that cannot wait without causing loss to the incapacitated or disabled person.
This is especially true if the incapacitation or disability is long term. It may be years before this person will be able to make a financial decision on their own again, if ever. The guardianship is limited to what is reasonable to allow the incapacitated or disabled persons the most control of their lives. The goal is to let them control and handle their lives as much as possible, with the guardian filling in the gaps that the ward cannot.
Guardians only have the power necessary to accomplish what the incapacitated or disabled persons cannot do on their own. These powers may include assuring care as necessary for the ward, making the ward’s financial and medical decisions, and submitting updates to the court on the ward’s condition. Learn more about the duties of a guardian of incapacitated or disabled persons.
Ultimately, the guardian is there to fill in the gaps and make decisions where the ward is not able to due to his or her incapacitation or disability. To ensure that the guardian protects the interest and affairs of the ward in accordance with the applicable state law, the court may require the guardian to purchase a guardianship surety bond. The requirements of the bond may vary from state to state.
Where can you instantly purchase a guardianship surety bond?
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!