Surety Bonds and Conservatorship

[Frank and Paula]

What is the name of your state? Nebraska

I have been assigned conservator of my Mother's estate and my wife and I as co-guardians of her as an incapacitated ward. What must we do to avoid having to pay an annual surety bond out of the estate? She has checking and savings accounts, various bonds, CDs and two IRAs that she has required disbursements due to her age (72). She also has a federal employee annuity, VA benefit and social security income and rental property income. We are in the 90 day period where we must do an inventory of her assets and make all the necesary other financial arrangements before going back to court.

Thanks

 

[seniorjudge]

Ask your lawyer these questions.

There are ways to waive bonds in probate cases.

There are just tons of facts that the judge may need before making such a decision.

It's best to leave this one up to your lawyer.

 

[BlondiePB]

Most states require that the initial inventory and guardian of the person report be filed within 60 days of the appointment. Please, verify when you have to have these into the court.

You do need your attorney to assist you with setting up accounts for all the monies. Ask your attorney about a depository account. The first thing you need to do is immediately secure the assests into protected accounts for the ward.

 

[bondinfo]

You can find out wealth of information by posting the same question at the Surety Bond Forums. There is a forum specifically for court bonds where you can get answers to any questions from agents and underwriters throughout the nation.

Good Luck!