Legal Question in Wills and Trusts in Illinois

I have been asked to be a co-guardian for my disabled nephew. I have 2 forms to sign, Oath of Office and Bond of Legal Representative-Surety. What is a Bond of Legal Representative - Surety? There is a statement "The obligation of this BOnd is limited to $500.00. What does that mean?


Asked on 6/24/11, 4:04 pm

1 Answer from Attorneys
Sanford M. Martin Sanford M. Martin, P.A.

A bond is a kind of insurance policy which provides protection to other persons against negligent or wrongful acts of you as co-guardian for your discharge of guardian responsibilities. It is similar to a bond required of a construction company to protect other persons against losses or damages resulting from acts of the contractor. Here the bond protection is limited to $500. Such bonds may be required of executors, guardians, and other persons involved in estate administration or guardianships. There may be a charge or premium for the bond.

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Answered on 6/24/11, 4:32 pm


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