Utah Guardian Bond | AmeriPro Surety Bonds
Guardian/Conservator Surety Bond; Amount and Purpose
A court-appointed Utah guardian is one who oversees the wellbeing of either a minor or an incapacitated adult.
As a condition of your appointment, the Utah court requires you to obtain a guardianship bond. For our purposes, guardianship bond and Utah conservator bond both mean the same.
According to Utah law Title 75 Chapter 5 Part 4 Section 411 , unless otherwise dispensed, the amount of conservator/guardian surety bond required will be:
- The value of the property held in the estate;
- PLUS one year’s estimated income the property is expected to receive;
- MINUS the value of cash and securities held in the estate which require a court order for their removal.
The purpose of the surety bond requirement is to serve as a financial guarantee to protect the estate from harm, as described succinctly by Utah state statute.
Qualifying and the Premium
Our agency qualifies you for the Utah guardian bond in whatever amount that the court requires of you. Up to a $100,000 requirement, typically, we also do so without a credit check inquiry.
A conservator/guardian bond greater than $100,000 will involve a surety underwriter’s review and a credit check inquiry. Good credit will also be required; and you may also be asked to provide additional information as needed.
For a Utah conservator/guardian bond of any amount, our agency will need the following from you:
- A copy of the court order or the court minutes stating that a conversator/guardian bond is required;
- Completing a surety bond application. The application can be sent to you via DocuSign to facilitate ease of completing;
- Review of your completed surety bond application, according to, in part, the dollar threshold required referred to above;
- Upon approval of your bond, payment of the first annual premium.
Upon approval of your guardianship bond and payment of the premium, our agency issues it to you immediately. Included with your bond document will be a Power of Attorney.
You will file both your surety bond and POA with the presiding Utah court.
Annual Renewal of the Premium
The premium for your conservatorship/guardianship surety bond renews annually on the anniversary of its issuance for as long as the court requires surety.
Premiums paid are earned in full and are non-refundable in part or entirely.
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