What are Guardianship Bonds?

A legal guardian is a person who has the legal authority (and the corresponding duty) to care for the personal and property interests of another person, called a ward. Usually, a person has the status of guardian because the ward is incapable of caring for his or her own interests due to infancy, incapacity, or disability. Most countries and states have laws that provide that the parents of a minor child are the legal guardians of that child, and that the parents can designate who shall become the child’s legal guardian in the event of death. Guardianship bond amounts vary on a case by case bases and are set by the court.

Courts generally have the power to appoint a guardian for an individual in need of special protection. A guardian with responsibility for both the personal well-being and the financial interests of the ward is a general guardian. A person may also be appointed as a special guardian, having limited powers over the interests of the ward. A special guardian may, for example, be given the legal right to determine the disposition of the ward’s property without being given any authority over the ward’s person. A guardian appointed to represent the interests of a person with respect to a single action in litigation is a guardian ad litem.

Some jurisdictions allow a parent of a child to exercise the authority of a legal guardian without a formal court appointment. In such circumstances the parent acting in that capacity is called the natural guardian of that parent’s child.

Guardians are often appointed in divorce cases or in parenting time disputes to represent the interests of the minor children. Guardians ad litem are also used in other family matters involving grandparents obtaining custody or grandparenting time as well as protection orders where one parent is attempting to get an order against another party with a legal connection to the mother of the child. The kinds of people appointed as a guardian ad litem vary by state, ranging from volunteers to social workers to regular attorneys to others with the appropriate qualifications. The two divorcing parents are usually responsible for paying the fees of the guardian ad litem, even though the guardian ad litem is not responsible to them at all. In some states, the county government pays the fee of that attorney. The guardian ad litem’s only job is to represent the minor children’s best interests.

They are also appointed in guardianship cases for adults (see also conservatorship). For example, parents may start a guardianship action to become the guardians of a developmentally disabled child when the child reaches the age of majority. Or, children may need to file a guardianship action for a parent when the parent has failed to prepare a power of attorney and now has dementia

A guardian is a fiduciary and is held to a very high standard of care in exercising his or her powers. If the ward owns substantial property the guardian may be required to give a surety bond to protect the ward in the event that dishonesty or incompetence on his or her part causes financial loss to the ward.

Depending on the jurisdiction, a legal guardian may be called a “conservator”, “custodian”, or curator. Many jurisdictions and the Uniform Probate Code distinguish between a “guardian” or “guardian of the person” who is an individual with authority over and fiduciary responsibilities for the physical person of the ward, and a “conservator” or “guardian of the property” of a ward who has authority over and fiduciary responsibilities for significant property (often an inheritance or personal injury settlement) belonging to the ward. Some jurisdictions provide for public guardianship programs serving incapacitated adults or children.

Guardianship bond are usually required by the court, in this case the bonding company agrees to pay up to the value of the  bond in the event that the appointed guardian does not perform his specified duties. In the event of  default under the bond, the fiduciary has a legal obligation to repay the  bonding company for payments made by the bonding company for the fiduciary’s  failure to perform. For all type of court bonds www.allstatesuretybonds.com or Call 800-374-9227

June 16th, 2012 by All State Bonds