Michigan Conservatorship Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond of Conservators; Amount and Purpose
As a condition of your Michigan court-appointment as the conservator of an estate of a minor or an incapacitated adult, the presiding probate court may require you to furnish evidence of filing a surety bond.
The surety bond, required according to Michigan legislation Section 700.5410, as amended, will be in an amount that the court deems sufficient to protect the estate, or in an amount as required by statute.
And that brings us to the purpose of this surety bond requirement: Your surety bond is a financial guarantee that ensures the protection of the estate from mismanagement.
For purposes of obtaining a surety bond, the terms conservator or Michigan guardian bond may be used interchangeably.
Qualifying and the Premium
Our agency offers you the Michigan conservator/conservatorship bond in the amount that the court requires of you. Up to a $100,000 surety bond requirement, we also do so without a credit check.
If you require a conservatorship bond greater than $100,000, approval is first subject to further review of your application. This review will include a credit check. Good credit will be required for approval, as also providing any additional documentation or information requested.
For any conservatorship surety bond, our agency will need the following from you:
- A copy of the court order appointing you as conservator and stating the surety bond requirement of you;
- Completion of a surety bond application. The application may be sent to you via DocuSign. This will facilitate ease and timeliness of completion;
- Review of your completed surety bond application.
Upon approval, payment of the first annual premium. Thereafter, your guardian bond and a Power of Attorney form are sent to you for signing and filing.
Annual Renewal of Your Guardianship Bond Premium
The premium for your MI conservator surety bond renews each year on the anniversary of your bond’s issuance for as long as the court requires surety.
Premiums paid are earned in full and are neither wholly or partly refundable.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, court, probate, and other surety bonds in Michigan and all 50 states.
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