Guardianship bonds secured for court-appointed guardians. They are sometimes referred to as “custodial bonds” and “guardian bonds.” This type of bond ensures that a legal guardian acts in the best interest of the person they take care of, as well as follow all orders of the court. It helps to make sure the individual does not take advantage of the situation.
These bonds are a financially-binding contract between: the principal (The guardian who purchases the bond) the Obligee (the court involved in the bond) and the Surety the (company who writes the bond).
A court-appointed individual who manages the care of a person who cannot care for themself is referred to as a “Guardian.” This includes minors, disabled adults or the elderly. This person is likely to also be the primary caregiver as well as the individual who handles the ward’s financial and legal matters.
These kind of bonds help ensure accountability and proper management of the ward’s affairs. The also help deter questionable individuals serving as guardians.