Probate Bonds of all types, including the Guardianship Bond, require good personal credit and the services of an attorney must be enlisted. This type of bond is also known as an Executor Bond,Administrator Bond, Estate Bond, Fiduciary Bond, Conservator Bond, Trustee Bond, or a Probate Bond.
This Guardianship Bond, a type of Probate Bond, guarantees faithful performance of duty by a fiduciary appointed by the court to administer the estate of a minor or incompetent person. The Guardianship Bond is synonymous with the Custodian Bond.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Guardianship of an Incapacitated Person Court Bond holds you accountable for your decisions.
By possessing a Guardianship of an Incapacitated Person Court Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your decisions.