1 (844) 589-9732

Illinois Guardian of Minors Bond

The Illinois guardian of minors bond allows you to act in a fiduciary capacity over a minor’s estate. Please call AmeriPro Surety Bonds today at 844-589-9732.

Illinois Guardian of Minors Bond

AmeriPro Surety Bonds | 844-589-9732

 

 

 

In Illinois, when a minor’s estate has a value — either currently, or in the process of receiving — of $10,000 or more, a guardian is appointed by an Illinois court over that estate.

This occurs when the minor has no parents or they cannot be located.

The guardian acts in a fiduciary capacity over the minor’s estate. It is their duty to see that the estate is properly taken care of on behalf of the minor.

If you are appointed an Illinois guardian of a minor’s estate, it is your legal duty to obtain a surety bond.

Without surety, a court may not permit you to act as guardian.

 

 

 

Illinois Guardian of Minors Bond: The Purpose

 

 

 

The purpose of the Illinois guardian of minors bond is to act as a financial guarantee that an appointed guardian will only act in the best interests of the minor and of the estate.

The guardian, at least partly, does so by preserving the estate’s value until such time that the minor comes of age and is allowed to manage his or her own financial affairs.

The bond, required by the Illinois probate court, protects the estate — and by extension the minor — from any acts of fraud, theft, embezzlement, or other criminal malfeasance and misfeasance that an estate guardian may commit.

The bond guarantees that if financial harm can be established, that amount may be recouped by the existence of the surety bond on behalf of the minor.

What it is not, however, is an insurance policy.

Because it is not insurance, if a claim were ever paid on the bond, it would be the legal liability of the bond’s principal to fully reimburse the surety for all costs and fees involved.

 

 

 

Illinois Guardian of Minors Bond: The Amount

 

 

 

According to Illinois law, the amount of the surety bond required for a guardian of minors bond is 1.5 times the value of the estate.

Illinois Guardian of Minors Bond: Qualifying for this Bond

An application, along with a credit check will determine your qualification for a guardian of minors surety bond.

Depending on the value of the estate, the application can be more detailed.

Applicants for a guardian of minor surety bond for a large estate may be asked to provide:

  • Information on income and the source of sources;
  • Net worth, which is defined as assets minus income;
  • Investments, their nature, type and value;
  • Whether you have any judgments, tax liens, any criminal indictments or convictions;
  • The value of real property owned.

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency.

We are committed to making your surety experience efficient and as easy as may reasonably be expected.

Our agency thanks you for your consideration and we look forward to working with you.

 

 

Please call AmeriPro Surety Bonds today at 844-589-9732.

Request a Callback

  • Date Format: MM slash DD slash YYYY
  • Please note: We do not share or rent your address to anyone, except for underwriting purposes associated with your bond.
  • This helps us to find exactly the surety bond that you require. By the way, it's perfectly OK to not know the type of surety bond you need; that's why we're here!
  • This field is for validation purposes and should be left unchanged.

AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

apply today

recent news

Lost Cashier’s Check Bond | Lost Instrument Bond

If you’ve lost a cashier’s check or money order, to replace it, the banking institution will require that a “Lost Instrument bond” be purchased in order to re-issue it. Learn how to quickly purchase this bond with AmeriPro Surety Bonds.

Mortgage Broker Bond

A mortgage broker bond is a license and permit bond which states require to become properly licensed and which is also required to protect the public from wrongful acts committed by a mortgage broker.

Notary Public Bond California

A notary bond, also known as a notary public bond, is a bond that is required by the state of California to engage in the business of witnessing signatures on documents. 

Indiana Replevin Bond

Indiana Replevin Bond AmeriPro Surety Bonds | 844-589-9732       Indiana Action of Replevin; Surety Bond and Purpose       An replevin action takes place in a civil litigation proceeding. The Plaintiff, permitted by order of the presiding...

Illinois Probate Bond

Illinois Probate Bond AmeriPro Surety Bonds | 844-589-9732       Surety Bond; Purpose       Probate is the legal process of “proving” a will. Probate may also be required when a decedent is intestate, that is, dies without a will, to...

Illinois Replevin Bond

  Illinois Replevin Bond AmeriPro Surety Bonds | 844-589-9732     Surety Bond; Purpose And Amount       An action of replevin, alternately referred to as a “writ of attachment” or sequestration, occurs when a Plaintiff, in a civil...

contact us

Office: 1 (844) 589-9732

Hours of Operation:

Monday – Friday 6 am to 5 pm (PST)