A probate bond ensures the personal agent or representative will adhere to any rules and laws set forth by the state in addition to any conditions described in the will. These details can be reviewed by your probate lawyer prior to you consenting to the terms. You are not legally bound to represent the property or estate if you choose to decline, and this is even true if the deceased has named you the executor. 

If the person does not comply with the bond's conditions, another party could make a claim against the bond. When this happens, a surety firm or bond agency which guarantees the bond will be required to pay out on the claim. This will result in the representative having to pay back the total sum amount of the bond, plus interest to the bond agency. According to Nerd Wallet, probate bond costs start at roughly 0.5% of the total bond amount, which is based on the estate's size. To learn more about the probate bonds FL agencies issue, give us a call.

Some wills require probate bonds in FL and others will specifically state that a bond is not required. Regardless, you may wish to consult a probate attorney to confirm whether a probate bond applies to your situation. If so, you may need to ask the lawyer, bond agency, or surety company to help you with the bonding process to begin the probate process.

A legal warden takes on responsibility for the care and well-being of a vulnerable person. A guardianship bond in FL provides assurance, backed by an impartial third party, that the primary caregiver will take these obligations seriously and implement them faithfully according to the court's instructions. That monetary guarantee helps create stability and reliability for the child or disabled adult. It also helps prevent people from taking on a guardianship role who are not capable or disinclined to take on the responsibilities associated with this role, or even worse, one who would take advantage of their role for personal gain.

Guardianship bonds are especially critical in circumstances where: 

• An incapacitated individual or a minor has considerable assets in their name 
• Guardianship is contested between multiple factions 
• The court has chosen someone other than a close relation as a guardian

To learn more about guardianship bonds FL minors need, give us a call.

A guardianship bond in FL helps create trust and responsibility at all levels of the guardianship process. The probate judge during a guardianship hearing will inform the primary caregiver if a guardianship bond is mandatory. The judge sets the amount of money required of the guardianship bond and its term duration, which can vary considerably.

To obtain a guardianship bond in FL, contact Arne Carlson Insurance and request a quote. There are a few factors we consider such as your credit score. We assess the risk and provide a quote for the guardianship bond premium. If you accept the quote, payment is taken, and we provide the bond paperwork and file the bond with the court.