surety bond for guardianship

[montakute]

Hi, I am going to be asked by a government body to obtain a surety bond in order for me to be granted guardianship of my elderly father who has been assessed to be incapable of managing his property.

Say the value of my father's property is $2 million, (so I guess that's the amount I need to be bonded for).

Do I have to own assets close to that amount to be bonded for that amount? (I'm just trying to get some basic understanding here, since I have now knowledge whatsoever of what is needed to get a surety bond.) Thank you very much.

[Admin]

No the bond is guaranteeing that you will appropriate the funds correctly, not that you have a similar amount of assets. They will try to get a good idea of your charactor. Having a lawyer help with the process can go a long way with the bonding companies, as it makes them rest assured all is done properly.

See: Guardianship Bonds - Surety Bond Types