Minnesota Conservator/Guardian Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond; Amount and Purpose
As a condition of your court appointment as Minnesota conservator, and where the value of the subject estate is $10,000 or more, the court will likely require you to obtain a surety bond as a condition of your appointment.
The amount of the surety bond will be determined by the court; however, it is expected to be in an amount that will protect the assets in the estate.
In the practical order, this may mean either the value of the estate, or the value of the estate plus any estimated income the estate is projected to earn.
The conservatorship bond is a financial guarantee of your compliance as fiduciary with all laws concerning the conservatorship of the estate.
While we use the term conservator, for purposes of you meeting the surety bond requirement, this bond may also be referred to as a Minnesota guardian bond.
Qualifying and the Premium
Our agency offers you the Minnesota conservator bond in any amount that the court requires of you.
Up to a $100,000 surety bond requirement, we also do so without a credit check.
If your surety bond requirement is greater than $100,000, approval is subject to a review of your application by a surety bond underwriter. This review includes a credit check. To be approved, good credit will be required.
For any conservator/guardian surety bond, our agency will need the following to begin and have you approved:
- A copy of the Minnesota court order which appoints you as conservator and which states the surety bond amount required of you;
- A completed surety bond application. The application can be sent to you via DocuSign. This will allow for the completing, signing, and returning of your application electronically;
- Review and approval of your application.
Your surety bond and a document called a Power of Attorney form are issued to you immediately once the first annual premium has been made.
These will be mailed to you for signing and then filed by you with the presiding Minnesota probate court.
Annual Renewal of the Premium
The premium associated with your Minnesota conservator surety 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 not subject to a refund, either in full or in part.
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