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A Guide to Guardianship Bonds
SuretyBonds.com is legally licensed to issue guardianship bonds nationwide. Whether you’re looking to become a legal guardian in Texas, Indiana, Florida or Illinois, we can help.
Guardianship bonds are a type of court bond required for court-appointed guardians. Also known as “custodial bonds” and “guardian bonds,” guardianship bonds ensure a legal guardian acts in the best interest of the person they care for and follow all orders of the court without taking advantage of their position.
What Is a Guardianship Bond?
Like all surety bonds, guardianship bonds act as a financially-binding contract between the following three parties:
- Principal: The guardian who purchases the bond and pledges to uphold the terms of the contract.
- Obligee: The court requiring the bond from the guardian.
- Surety: The company writing the guardianship bond on behalf of the principal.
A guardian is a court-appointed individual who manages the well-being of a person who cannot take care of themselves such as minors, disabled adults, or the elderly. A guardian is often the primary caregiver and responsible for their ward’s finances and affairs.
Guardianship bonds ensure guardians accurately manage the affairs and financials of the individual placed in their care. They also act as a deterrent for people with questionable intentions to serve as a legal guardian. For example, if a guardian mismanages their charge’s finances, a claim could be made against their guardianship bond to protect the individual under their care from financial loss.
How Much Does a Guardianship Bond Cost?
There are a few factors that determine the cost of a guardianship surety bond. These factors include:
- Specific qualities of your case (amount of the estate in question, etc.)
- Your state’s guardianship/custodian requirements
- Your financial credentials (credit score, etc.)
Guardianship bond costs vary on a case-by-case basis. The court sets the bond amount, and the guardian must pay a percentage of the total bond amount (the premium) to a surety to secure the guardianship bond.
To qualify for this bond, applicants usually need a credit score of at least 650. However, don’t let a lower credit score discourage you from applying for the bond you need. SuretyBonds.com has a history of helping applicants who lack excellent credit. If you qualify, we’ll find you the lowest rate available for your bond.
Get A Free Custodial Bond Quote Today!
The bonding process begins when you fill out our online contact form or call SuretyBonds.com at 1 (800) 308-4358 to connect with a surety specialist. An account manager will then walk you through the application process, collect all necessary information, and verify your credentials. Once your application is complete, we’ll find the best rate possible for your bond typically within 1-3 business days.
If you’re satisfied with your free, no-obligation price quote, your bond will be issued as soon as payment is processed. You’ll receive a copy of your bond form via email, and your original bond form will arrive via your preferred shipping method.