A Conservatorship Bond (aka. Guardianship Bond) is a type of court bond that ensures an individual that has been appointed in a court of law will perform and fulfill his or her obligations and duties.
Certain situations require a Conservatorship Bond, such as when the court appoints an individual to overtake the finances or assets of someone who can no longer manage them themselves. Such cases might include a child whose parents are deceased, or an elderly or disabled person.
Conservator Court bonds ensure assets are not mismanaged or taken advantage of. If a guardian improperly or dishonestly manages assets, the bond protects against any losses incurred and the bonding company will take action to recover the losses.
You need a Conservatorship Bond if:
1.) You are selected as a guardian of a minor, elderly, or disabled person
2.) You are selected as a guardian of any of the above’s finances or estate
Not every Conservator/Guardian must get bonded,though. In some cases, a judge might deem a bond unnecessary if the person needing guardianship has limited assets. If you are required to have a Conservatorship Bond, the court will require you to get one.
Completing our application allows the underwriters at our office to provide you with a specific quote for the exact bond you need. After you submit our online application, we will respond and get the process going immediately!