Maryland Guardian Bond
AmeriPro Surety Bonds | 844-589-9732
Guardian Surety Bond; Purpose and Amount
As a Maryland court appointed conservator/guardian, you have been appointed over the estate of an incapacitated adult.
A condition of your appointment as guardian may be that you are required to furnish a surety bond in the amount that the court orders.
While the bond is required of you, its purpose is to serve as a financial guarantee of your compliance with all Maryland laws in the administration of the estate.
According to current Maryland regulations, if so ordered, the amount of the surety bond will not be:
- Greater than the aggregate value of the property in the control of the fiduciary (that’s you!);
- Minus the value of: securities; money deposited in a financial institution that can only be removed by a court order; and real property which you lack the power to sell without express legal authorization to do so.
Qualifying and the Premium
Our agency offers the Maryland guardian bond in any amount. Up to a $100,000 surety bond requirement, we also do so without a credit check.
If you require a surety bond greater than $100,000, approval is subject to review of your surety bond application by an underwriter. This review includes a credit check inquiry, as also providing any additional information or documentation requested.
Good credit will also be required in order to obtain approval for a guardian/conservator bond greater than $100,000.
However, regardless of the amount of surety bond required of you, our agency will need all of the following:
- A copy of the Maryland court order appointing you as guardian and stating the surety bond amount required of you.
- A completed surety bond application. An application can be sent to you via DocuSign. This allows you to complete, sign, and submit, your application electronically;
- Review of your completed application according to, in part, the dollar amount required;
- Upon approval of your application, payment of the first annual premium.
Our agency issues your guardian bond and a Power of Attorney form to you for filing with the respective Maryland probate court. You’ll sign your bond as Principal and file it along with the POA form to the presiding court.
Annual Renewal of the Premium
The premium associated with your Maryland guardian bond renews annually on the anniversary of your bond’s issuance for as long as the court requires surety.
Premiums paid are earned in full and are nonrefundable, either in part or entirely.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will contact you…