Guardianship Bonds

Guardianship Bonds are sometimes required for an individual appointed as the legal guardian of a minor or someone who isn't mentally capable of caring for their own affairs.

Who is required to purchase a Guardianship Bond?

Those who are appointed as guardians may be required to purchase a Guardianship Bond. The bond helps ensure that guardians judiciously and accurately manage the finances and affairs of a person who is either under age or otherwise incapable.

Guardians are usually recommended by family or friends and appointed by a court of law. Legal guardians are required to make regular reports to the court regarding their charge.

Why require a Guardianship Bond?

A guardian is in a powerful position, with control over the finances and general well being of another individual. Guardianship Bonds help guarantee that legal guardians act in the best interest of the person they care for and follow all orders of the court.

These bonds also help discourage frivolous custody battles. Guardianship Bonds can be expensive, and the cost can prove a deterrent for people with less than genuine interest to serve as a legal guardian.

Where can I get a Guardianship Bond and how much do they cost?

These bonds can be expensive and time consuming to obtain. Guardianship Bonds can be purchased from an insurance carrier or a surety company, including Surety Bonds.com. The price varies depending on the assets and annual income of the person you are guardian over. Generally, the bond will be twice that of the person's assets or annual income.