Surety bond underwriters involved in the review of guardianship bond applications must consider many factors when determining that a principal is capable of caretaking not only of a ward’s assets but of the ward himself or herself. The National Guardianship… Continue Reading →
“Legal guardianship” is a court granted authority in which a responsible person (a “fiduciary”) is appointed to manage the financial affairs and property interests of a third party (a “ward”). A guardianship bond is often required to protect the ward’s… Continue Reading →
Do you have the statutorily required ERISA fidelity bond in place? The first of the year is a good moment to review your compliance checklist! Federal ERISA section 412 and related regulations (29 C.F.R. § 2550.412-1 and 29 C.F.R. Part… Continue Reading →
In brief, an appointee must provide a New York administrator bond before letters of administration in a probate matter can be issued (N.Y. SCP. LAW §805), known as the New York Consolidated Laws Surrogate’s Court Procedure Act (Surety bond of administrator,… Continue Reading →
In probate proceedings a Michigan personal representative bond is required only under specific circumstances. The surety bond requirement is first addressed in Section 700.3603, which states that a bond is generally not required of a personal representative appointed in informal proceedings,… Continue Reading →
Have you applied for a probate administrator bond or personal representative bond and been declined for credit reasons? As a probate fiduciary your history of personal financial responsibility is very important, but if you have some credit problems it doesn’t… Continue Reading →
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