Bonds

A bond is like an insurance policy.  A bond insures the estate against your stealing the money.  By estate, I mean both what a person leaves after he or she dies or the property controlled by a guardian or conservator of someone who is alive.

The court requires a bond for twice the value of the estate.  Real estate is not counted, just other assets.  So if the estate is worth $50,000.00 you must buy a $100,000.00 bond.

Insurance companies sell bonds, but precious few know how to do it correctly.  Once you find a competent bonding company the process becomes so much easier.

Bonds cost about $2.50 per $1000.00 with a minimum payment of $100.00.  So the minimum payments you can make will get you a $40,000.00 bond.  If when filing the estate you don't really know what it will contain, the court will often require a $40,000.00 bond.