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Arkansas Guardian Bond
In Arkansas, the circuit court judge will appoint a “guardian” to manage the property and financial affairs of individuals considered “wards” of the state. Wards include minors or adults declared incompetent by the State of Arkansas. The guardian, also known as the fiduciary, is often required to purchase a Guardian Bond in accordance with Chapter 65 of the Arkansas Code to protect the financial interests of the ward and the clerk of the circuit court. Jet makes the process of purchasing a Guardian Bond fast, accurate, and affordable for guardians in Arkansas.
Have any questions? Give us a call at (855) 470-0877 and speak to a live Arkansas probate bond expert.
What Size Bond Do You Need?
The clerk of court will inform the guardian of their exact required bond amount once the guardianship case is filed. To determine the bond amount, the clerk will follow Arkansas Code 28-65-215 outlined below.
If the guardianship is over the ward’s person only, meaning that the guardian does not control any of the ward’s assets, then the bond amount may not exceed $1,000 according to Arkansas Code 28-65-215. For guardianships over a ward’s estate or property and conservators, the bond amount must equal the value of the ward’s property that is under the guardian’s control.
For those who are appointed as the guardian of a ward that is a beneficiary of the Department of Veterans Affairs, the surety bond amount must be in an amount no less than the value of the personal property of the ward plus the ward’s anticipated annual income.
For example, if a guardian is appointed over an estate that has personal property valued at $60,000 and the court restricts the guardian's access to only $40,000 of the ward's assets, the guardian must obtain a $40,000 surety bond before receiving their letters of guardianship.
How Much Does the Arkansas Guardian Bond Cost?
Jet charges a minimum of $85 per year for the Arkansas Guardian bond, with the price depending on the size of the bond. Jet provides specialized tiered pricing, reducing the percentage rate for larger bond amounts. Guardians can benefit from savings by opting to purchase bonds for multiple years simultaneously.
Guardians can follow the steps listed below to determine how much their bond will cost:
- Determine the Required Bond Amount
After evaluating the ward's assets, the clerk of the circuit court will provide the guardian with their required bond amount.
- Calculate the Total Cost
Guardian bonds up to $10,000 in size will cost as low as $85 per year. For each additional $1,000 increase in size, the bond premium for preferred customers will increase by the corresponding amount outlined in the table below.
| Bond Amount | Additional Premium (per $1,000) | Bond Cost (1 year) |
|---|---|---|
| $0 - $10,000 | $85 flat rate | $85 |
| $10,001 - $60,000 | $5.00 | $85 - $335 |
| $60,001 - $200,000 | $4.00 | $335 - $895 |
| $200,001 - $500,000 | $3.00 | $895 - $1,795 |
| $500,001 - $1,500,000 | $2.00 | $1,795 - $3,795 |
| $1,500,001+ | $1.00 | $3,795+ |
Jet does not require credit checks for applicants with bond sizes under $25,000, or under $50,000 if the applicant has retained an attorney. Guardians may also request the court to reimburse the bond premium from estate funds. Call us at (855) 470-0877 to find out how much your guardianship bond will cost.
Types of Guardians and Their Duties
According to Chapter 65 of the Arkansas Code, there are two main types of guardians that apply to both incompetent adults or minors:
Guardian of the Person: This form of guardianship is responsible for the general care, custody, and control of the ward. This includes, but is not limited to, providing clothing, shelter, employment, education, food, and transportation.
Guardian of the Estate: Appointed for the sole purpose of managing the estate, its property, and any of the ward’s business affairs. Duties include but are not limited to, maintaining property, paying taxes, and receiving and disbursing assets.
Guardian of a VA Beneficiary: A guardian appointed by the VA to oversee and manage the benefits for a mentally or physically incompetent beneficiary, commonly a veteran. This type of guardianship is regulated under Chapter 66 of the Arkansas Code.
Conservators: Appointed by the circuit court to manage the property and estate of a person who is deemed incompetent because of advanced age or physical disability, regulated under Chapter 67 of the Arkansas Code.
Other Important Terms to Know
- Guardianship: The process of the circuit court appointing someone to be the guardian over another individual or that individual's finances
- Incapacitated Adult: A person over the age of 18 who has been judged by a court to be unable to manage their property or take care of themselves
- Minor: An unemancipated individual under 18 years of age
- Respondent: The person who is alleged to be incapacitated and in need of a guardian
- Surety Bond: A type of insurance that protects the ward if the guardian does not fully fulfill his or her duties
- Ward: An incapacitated person or minor for whom a guardian has been appointed for
What Is the Purpose of the Guardian Bond?
Arkansas has laws in place to protect the well-being of people in their state. The circuit court for each county in Arkansas regulates guardians by requiring a surety bond to ensure that incompetent persons and their assets are protected while under guardianship. Obligations of the guardian include making financial and/or medical decisions for the ward, and the nature of these responsibilities may lead the guardian to make negligent or fraudulent actions. The Guardian Bond acts as a guarantee of financial restitution for individuals harmed by a fiduciary’s failure to fulfill duties outlined in Arkansas Code 28-65-215 and 28-48-201.
How Is the Guardian Selected by the Clerk of the Circuit Court?
Upon the court determining the incompetence of the ward, a guardian is appointed. Any willing individual or corporation, determined suitable by the court, may apply with the clerk of the circuit court to be a guardian. The order of appointment for guardianship in Arkansas is as follows:
- The parents or legal guardian of the ward, or their nominee by will
- A person nominated by the ward if the ward is at least 14 years old
- A person nominated by the spouse of an incapacitated person
- Any blood relative or spouse of the ward
If the incompetent person is mentally fit and sound, the court shall consider appointing the guardian requested by that incompetent person.
How Does the Application Process Work With Jet?
Jet’s application process is unlike any other - our goal is to get the guardian bonded as quickly as possible to allow them to focus on their fiduciary obligations. All we need is the bond limit and basic information from the guardian. Our application allows the guardian to select where to send the bond.
Some of the factors Jet considers when underwriting a guardian bond:
- Applicant’s credit history for bond limits over $25,000 if they have not retained an attorney, or $50,000 if they have retained an attorney
- Applicants for bond limits over $50,000 will likely need to submit documentation from the court for review
- If the applicant has ever committed a felony
- If there are disputes among the estate’s beneficiaries
- Whether or not there is any ongoing business in the estate
- Whether or not the applicant owes any money to the estate
How Does the Bond Get Filed to the Clerk of Circuit Court?
An original bond is to be filed with signatures from both Jet (the Surety) and the guardian. Jet fills out the bond form and sends it to the guardian to complete and file with the appropriate probate court. Jet will also send the guardian an electronic copy of their bond for reference.
How Long Do You Need the Bond?
A surety bond must be on file with the clerk of circuit court until the minor reaches the age of 18 or the incompetent person no longer requires the care of a guardian. Until that point, the Guardian Bond is required and the fiduciary can only be released of their obligations upon approval by the court. According to Section 28-65-403 of the Arkansas Code, a guardian of the estate may file receipts and other evidence showing that they have disbursed all property entitled to the rightful parties. Once the evidence has been filed with the court and the court finds it satisfactory, they will make an order discharging the guardian and releasing the bond.
Regardless of the reason for termination or removal, the guardian’s liability is in full force until the court releases them of fiduciary duties; Jet is also liable under the terms of the bond until released by the clerk of circuit court.
Can the Arkansas Guardian Bond Be Cancelled?
If you need to cancel your Guardian Bond, you may request to do so with Jet by sending a written cancellation appeal to our email: [email protected].
However, cancellation is not so simple. Once the Jet team has received your notice, we will then send a cancellation request to the circuit court that is handling the guardianship case. If the judge accepts the request, the bond will be officially cancelled as soon as Jet receives a release of liability.
Until your obligations as a fiduciary have been fulfilled, you will be required by the judge to file a new surety bond with the probate court before your previous bond may be cancelled. Failure to do so promptly will lead to the probate judge removing you from your fiduciary position and releasing your surety company (Jet) from future liability.
How Do I Renew the Arkansas Guardian Bond?
Bonds can be purchased annually or in multi-year terms. Regardless of the bond length, Jet will notify the guardian with ample time to provide renewal payment. If payment is not provided, Jet will notify the attorney (when applicable) and the court, respectively. If an attorney is involved, they may choose to provide the renewal bond premium but the fiduciary must reimburse them. If no attorney is involved, the court will set a hearing upon being notified of the failure to uphold the bond.
How Does a Guardian Avoid Bond Claims?
Guardians have the critical role of protecting an incapacitated person or minor. This includes making difficult decisions related to their finances, living situation, and education. Acting according to Chapter 65 of the Arkansas Code guarantees the success of guardianship. Many guardians choose to work with an attorney to ensure duties are properly fulfilled. Keeping receipts and records of all transactions is crucial for fiduciaries.
Guardian actions that may lead to a claim include, but are not limited to:
- Using the ward’s money without prior court approval
- Joining the ward’s personal funds with their own
- Failure to provide annual accounting of the estate
- Using the ward’s real or personal property for persons other than the ward
- Selling a ward’s real property without a court order
- Failure to deliver property to a minor once they reach the age of 18
Anyone that feels the guardian is not fulfilling duties according to state regulations may file a civil suit with the clerk of circuit court. The bond may be used as restitution for the harmed individual(s) at this time.
What Happens if a Claim Is Filed on the Guardian Bond?
Upon receiving court notice of a claim on the bond, Jet has 30 days to pay the claim or ask for additional time to review it. Jet works tirelessly to protect guardians against faulty claims, which means that even if the court has requested a bond payout, we assess all documentation provided by the court and the guardian prior to paying out the claim. However, if a claim is valid and Jet pays the claimant, the guardian must pay Jet back as the guardian is ultimately liable for their actions.
Arkansas County Clerk Offices
Below is a list of all the county clerk offices located in the State of Arkansas, as well as their addresses and contact information.
| County Clerk | Phone Number | Address |
|---|---|---|
| Arkansas County | (870) 946-4349 | 101 Court Square DeWitt, AR 72042 |
| Ashley County | (870) 853-2020 | 215 East Jefferson St Hamburg, AR 71646 |
| Baxter County | (870) 425-3475 | One East 7th St Mountain Home, AR 72653 |
| Benton County | (479) 271-1013 | 215 East Central Rd Bentonville, AR 72712 |
| Boone County | (870) 741-8428 | 402 N. Walnut Rd Harrison, AR 72601 |
| Bradley County | (870) 226-3464 | 101 East Cedar Rd Warren, AR 71671 |
| Calhoun County | (870) 798-2517 | P.O. Box 1175 Hampton, AR 71744 |
| Carroll County | (870) 423-2022 | 210 West Church Ave Berryville, AR 72616 |
| Chicot County | (870) 265-8000 | 108 Main Street Lake Village, AR 71653 |
| Clark County | (870) 246-4491 | 401 Clay Street Arkadelphia, AR 71923 |
| Clay County | (870) 598-2813 | 151 South 2nd Ave Piggott, AR 72454 |
| Cleburne County | (501) 362-4620 | 300 W. Main Street Heber Springs, AR 72543 |
| Cleveland County | (870) 325-6521 | P.O. Box 368 Rison, AR 71665 |
| Columbia County | (870) 235-3774 | One Court Square Magnolia, AR 71753 |
| Conway County | (501) 354-9621 | 117 South Moose Street Morrilton, AR 72110 |
| Craighead County | (870) 933-4520 | 511 South Main Street Jonesboro, AR 72401 |
| Crawford County | (479) 474-1312 | 300 Main Street, Room 7 Van Buren, AR 72956 |
| Crittenden County | (870) 739-4494 | 100 Court Street Marion, AR 72364 |
| Cross County | (870) 238-5735 | 705 E. Union St., Room 8 Wynne, AR 72396 |
| Dallas County | (870) 352-2307 | Third and Oak St. Fordyce, AR 71742 |
| Desha County | (870) 222-0870 | P.O. Box 218 Arkansas City, AR 71630 |
| Drew County | (501) 450-4909 | 210 South Main Street Monticello, AR 71665 |
| Faulkner County | (806) 823-2134 | 801 Locust Street Conway, AR 72034 |
| Franklin County | (479) 667-3609 | 211 West Commercial Street Ozark, AR 72949 |
| Fulton County | (870) 895-3310 | P.O. Box 219 Salem, AR 72576 |
| Garland County | (501) 622-3610 | 501 Ouachita Rd, Room 103 Hot Springs, AR 71901 |
| Grant County | (870) 942-2631 | 101 West Center #106 Sheridan, AR 72150 |
| Greene County | (870) 239-6311 | 320 West Court Street, Rm 102 Paragould, AR 72450 |
| Hempstead County | (870) 777-2241 | P.O. Box 1420 Hope, AR 71802 |
| Hot Spring County | (501) 332-2291 | 210 Locust Street Malvern, AR 72104 |
| Howard County | (870) 845-7500 | 421 North Main Street Nashville, AR 71852 |
| Independence County | (870) 793-8828 | 192 East Main Street Batesville, AR 72501 |
| Izard County | (870) 368-4316 | Izard County Courthouse Melbourne, AR 72556 |
| Jackson County | (870) 523-7420 | 208 Main Street Newport, AR 72112 |
| Jefferson County | (870) 541-5322 | 101 West Barraque Street Pine Bluff, AR 71601 |
| Johnson County | (479) 754-3967 | P.O. Box 57 Clarksville, AR 72830 |
| Lafayette County | (870) 921-4633 | 2 Courthouse Square Lewisville, AR 71845 |
| Lawrence County | (870) 886-1111 | P.O. Box 526 Walnut Ridge, AR 72476 |
| Lee County | (870) 295-7715 | 15 East Chestnut Street Marianna, AR 72360 |
| Lincoln County | (870) 628-5114 | 300 South Drew Star City, AR 71667 |
| Little River County | (870) 898-7210 | 351 North Second Street Ashdown, AR 71822 |
| Logan County | (479) 963-2618 | 25 West Walnut, Room 25 Paris, AR 72855 |
| Lonoke County | (501) 676-2368 | 301 North Center Street Lonoke, AR 72086 |
| Madison County | (479) 738-2747 | P.O. Box 37 Huntsville, AR 72740 |
| Marion County | (870) 449-6226 | P.O. Box 385 Yellville, AR 72687 |
| Miller County | (870) 774-1501 | 400 Laurel Street, #105 Texarkana, AR 71854 |
| Mississippi County | (870) 762-2411 | 206 North 2nd Street Blytheville, AR 72315 |
| Monroe County | (870) 747-3632 | 123 Madison Street Clarendon, AR 72029 |
| Montgomery County | (870) 867-3521 | 105 HWY 270 East #10 Mount Ida, AR 71957 |
| Nevada County | (870) 887-2710 | 215 East 2nd Street South, Suite 102 Prescott, AR 71857 |
| Newton County | (870) 446-5125 | P.O. Box 410 Jasper, AR 72641 |
| Ouachita County | (870) 837-2220 | 145 Jefferson Street Camden, AR 71701 |
| Perry County | (501) 889-5126 | P.O. Box 358 Perryville, AR 72126 |
| Phillips County | (870) 338-5505 | 620 Cherry St. #202 Helena, AR 72342 |
| Pike County | (870) 285-2743 | 1 Courthouse Square Murfreesboro, AR 71958 |
| Poinsett County | (870) 578-4412 | 401 Market Street Harrisburg, AR 72432 |
| Polk County | (479) 394-8123 | 507 Church Ave, Box 9 Mena, AR 71953 |
| Pope County | (479) 968-6064 | 100 West Main Street Russellville, AR 72801 |
| Prairie County | (870) 256-4434 | 200 Courthouse Square, Ste 104 Des Arc, AR 72040 |
| Pulaski County | (501) 340-8500 | 401 West Markham, Ste 100 Little Rock, AR 72201 |
| Randolph County | (870) 892-5822 | 107 West Broadway Pocahontas, AR 72455 |
| Saline County | (501) 303-5630 | 215 North Main Street #5 Benton, AR 72015 |
| Scott County | (479) 637-2642 | 190 W. First St., Box 10 Waldron, AR 72958 |
| Searcy County | (870) 448-3807 | P.O. Box 998 Marshall, AR 72650 |
| Sebastian County | (479) 782-5065 | 35 South 6th, Room 102 Fort Smith, AR 72902 |
| Sevier County | (870) 642-2852 | 115 North 3rd Street, Room 10 DeQueen, AR 71832 |
| Sharp County | (870) 994-7361 | 718 Ash Flat Drive Ash Flat, AR 72513 |
| St. Francis County | (870) 261-1729 | 313 South Izard Forrest City, AR 72335 |
| Stone County | (870) 269-3271 | 107 West Main Street, Ste D Mountain View, AR 72560 |
| Union County | (870) 864-1910 | 101 North Washington St. El Dorado, AR 71730 |
| Van Buren County | (501) 745-6995 | 273 Main Street #2 Clinton, AR 72031 |
| Washington County | (479) 444-1711 | 280 North College St #300 Fayetteville, AR 72701 |
| White County | (501) 279-6204 | 315 North Spruce Searcy, AR 72143 |
| Woodruff County | (870) 347-2871 | 500 North 3rd Street Augusta, AR 72006 |
| Yell County | (479) 495-4850 | P.O. Box 219 Danville, AR 72833 |
