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A guardianship bond is required by an assigned person who handles the property and monies of a minor or persons with limited intellectual functioning. Subject to its specific terms, this bond guarantees an honest accounting and faithful performance of duties.

The duties of a guardian, generally speaking, are to oversee the welfare and safety of the person under guardianship, and to attend to the financial needs of the individual, using his or her assets wisely. A guardian has a legal duty, called a "fiduciary duty", to act in the best interests of the individual.

A guardian is someone who by appointment or by relationship has the care of a person or that person's property, or both.Guardianship by nature is the natural guardianship arising out of the relation of parent and child. A guardian by judicial appointment is one named by a court with jurisdiction over such relations.

At its simplest, a surety bond requires the surety to pay a set amount of money to the obligee if a principal fails to perform a contractual obligation.The surety bond requires the principal to sign an indemnity agreement that pledges company and personal assets to reimburse the surety if a claim occurs.

A bond for a $100,000 contract will typically cost $500 to $2,000. Get a free Performance Bond quote.

A guardian is generally paid an amount which is not more than five percent of the ward's yearly income. The amount may vary slightly, but in no case should the guardian's compensation be fixed at less than fifty dollars for a year.

Depending on your approval with the surety company, you might only need to pay around $400 - $500 for your bond. See note below about pricing for a Guardianship Bond of a minor.

There are two types of guardianships, a full guardianship and a limited guardianship.

Arkansas Guardian's Bond

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