Platinum Bonds Insurance Agency
Research before you apply.An Indiana Guardian Bond protects the ward's estate by ensuring the court-appointed guardian manages assets properly and fulfills all fiduciary duties. The bond amount is based on the value of the ward's property plus one year's estimated income, and provides financial recourse if the guardian mismanages funds or brea…
An Indiana Guardian Bond protects the ward's estate by ensuring the court-appointed guardian manages assets properly and fulfills all fiduciary duties. The bond amount is based on the value of the ward's property plus one year's estimated income, and provides financial recourse if the guardian mismanages funds or brea…
Court-appointed guardians who are managing the estate of a minor or incapacitated adult (ward) in Indiana, unless waived by the court or the guardian is a qualified bank or trust company.
Guardianship bonds protect the interests of minors or incapacitated persons under court-appointed guardianship. Pricing Information:. Court bonds are reviewed case-by-case and must be approved before pricing can be provided. • Bond amount: Set by the court based on the ward's assets. • What affects pricing: Asset value, type of guardianship, credit and financial strength. • Collateral: May be required depending on asset value. • Ongoing requirement: Many guardianship bond…
Probate/fiduciary application — typically 3–5 business days
The bond amount is calculated as: (1) the total value of the ward's estate property, plus (2) one year's estimated income from the estate, minus (3) any property the guardian cannot sell, convey, or encumber without specific court order. The court may reduce this amount if adequate protections are in place (such as restricted bank accounts or court-ordered investment restrictions) or if the guardian is a qualified bank or trust company.
Yes, the court may waive the bond requirement if it determines a bond is unnecessary to protect the ward's interests, or if the guardian is a qualified bank or trust company. The court may also accept collateral (such as pledged securities or a land mortgage) instead of a surety bond, or reduce the bond amount if sufficient protections are in place.
Any interested party with standing can file a claim, including the ward (if capable), heirs, close family members, creditors of the estate, or anyone affected by the guardianship. Claims are filed through a verified petition with the probate court overseeing the guardianship. The court will review evidence of the guardian's breach of fiduciary duty (such as mismanaging assets or self-dealing) and direct the surety to pay valid claims up to the bond amount.
Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.