Oregon Conservator and Guardian Bond

A court-appointed individual may act as a conservator or guardian on behalf of an incapacitated person or minor, more commonly called a protected person. The conservator or guardian, also referred to as the fiduciary, is required by the State of Oregon to obtain a surety bond prior to performing duties in accordance with Oregon Revised Statutes (ORS) Chapter 125. Conservator and Guardian Bonds are types of Probate Bonds that guarantee financial protection to the protected person should the conservator or guardian act fraudulently.

APPLY FOR CONSERVATOR/GUARDIAN BOND

Jet ensures a smooth process obtaining the bond from start to finish, so the conservator and guardian can concentrate on fulfilling their obligations to those in their care. Have any questions? Give us a call at (855) 470-0877 and we will be happy to help.

Cost of Oregon Guardian and Conservator Bonds

Conservator and Guardian Bond limits (or the total bonding amount) are determined by the value of the protected person’s assets. The court will finalize an amount for the conservator or guardian for which they will need to secure a surety bond with a carrier licensed to do business in the state of Oregon, such as Jet Insurance Company. The cost for the bond is just a small percentage of the bond limit.

Jet charges a minimum of $85 per year for the Oregon Conservator bond, with the price depending on the size of the bond. Those with smaller bond limits will still need to submit the basic information regarding the bond requirement and are often able to be approved for a rate the same day. Conservators or guardians with large bond limits will need to have their credit evaluated to determine their rate, in addition to other personal information such as personal financials. 

What Is the Difference Between a Conservator and Guardian?

Conservators and guardians are both selected to take care of matters involving a person who cannot legally do so themselves. The differences between guardian and conservator roles are as follows:

A guardian makes personal and medical decisions on behalf of a minor or incapacitated in the following ways:

• Chooses the medical care provided to the protected person
• Selects the location the protected person lives
• Daily care received by the protected person
• Educational resources the protected person receives
• Other duties of the guardian described in ORS 125.315

A conservator oversees the finances for an incapacitated person in the following ways:

• Takes possession of the protected person’s property
• Safe keeps the protected person’s money
• Manages of estate’s finances
• Settles, pays, or contests claims against the estate
• Prepares and files tax returns
• Does accounting for administration of estate as detailed in ORS 125.475

All duties of Oregon conservators and guardians can be reviewed in this Oregon State Bar Handbook.

How Are Guardians and Conservators Appointed?

Any individual interested in the welfare of an incapacitated person, or minor, may file for conservatorship or guardianship with the court in the county where the protected person resides, as explained in ORS 125.400 and 125.305. Typically, a family member or friend will petition to be a guardian or conservator. In cases where that is not an option, a professional fiduciary may be appointed. Licensed professional fiduciaries are non-family members to the individual needing a conservator or guardian and are hired to act in the best interest of the protected person. Per ORS 125.240, Professional fiduciaries must be a National Certified Guardian or National Master Guardian, understand and abide by ORS Chapter 125, and meet the Oregon GCA Standards of Practice.

A petition that determines the need for guardianship or conservatorship is prepared, typically by an attorney, and signed by the petitioning person. All involved parties will receive notice of the petition for guardianship or conservatorship and have time to file objections. During this time a court visitor will be designated to evaluate the need for a guardian or conservator and report back to the court. If the court schedules a hearing, proof that the protected person is incapacitated must be presented. Whether there is a hearing or not, the court will decide if there is a guardian and/or conservator and what their duties will be.

How Does the Bond Get on File With the Court?

Since these bonds are dealt with on a county basis, the bond filing procedure varies. Some courts allow Jet to file the bond electronically so the process can be done entirely online. Other courts request a physical bond form that is signed by both Jet and the conservator or guardian. Jet produces and sends you the bond form for filing with the circuit court. Unlike other carriers, Jet will not charge you to have the bond form mailed.