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South Carolina Conservator Bond
In South Carolina, the probate court will appoint a “conservator” to manage the financial affairs of minors or adults declared incapacitated by the state. The conservator, also known as a fiduciary, must purchase a surety bond in accordance with South Carolina Probate Code 62-5-409 to safeguard the assets of the individual’s estate and anyone who has an interest in their estate.
Have any questions? Give us a call at (855) 470-0877 and speak to a live South Carolina probate bond expert.
What Size Bond Do You Need?
The probate court requires conservators to furnish a bond in an amount that adequately safeguards the individual under conservatorship, their estate's assets, and all relevant parties. The court will follow South Carolina Code 62-5-409 and 62-5-410 outlined below to determine the bond amount.
Conservators must provide the court with an estimate of the value of the individual’s estate under the conservator’s control, plus the estimated income the estate may generate over the next year. After the court approves the estimate, the conservator must file a bond in an amount not less than the estimated value they provided.
How Much Does the South Carolina Conservator Bond Cost?
Jet charges a minimum of $85 per year for the South Carolina Conservator bond, with the price depending on the size of the bond. See the chart below to calculate the price for larger bonds. Apply online in minutes or call one of our probate bond experts at (855) 470-0877 to find out exactly how much your bond will cost.
To determine how much the bond will cost, conservators can follow the steps listed below:
- Determine the Required Bond Amount
The probate court will set the required bond amount for the conservator after approving the estimated value of the protected person’s estate and future income.
- Calculate the Total Cost
Conservator 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 will increase by the corresponding amount outlined in the table below. Note that rates may vary based on the applicant’s credit and other underwriting factors.
| 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. Conservators 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.
What Is the Difference Between a Conservator and a Guardian in South Carolina?
The probate court appoints conservators to manage the estate of a minor or incompetent person. Guardians are responsible for the wellness and personal care of the ward, including their health, education, and support. Title 62, Article 5 of the South Carolina Probate Code sets forth the specific duties and responsibilities for each position, and a description of each fiduciary type, along with their respective bond requirements, can be found below:
- Conservator: A conservator is responsible for handling the financial matters and property of either an incapacitated adult or a minor. Their duties include managing and protecting the estate’s assets, along with regular reporting to the court on the estate's assets, receipts, and expenditures. Conservators in South Carolina must obtain a bond before being appointed.
- Guardian: A guardian handles the personal and custodial matters of an incapacitated adult or minor. They are responsible for the care and custody of the individual and must ensure that all of their basic needs are met. Guardians are typically not required to obtain a bond in South Carolina.
Other Important Terms to Know
- Conservatorship: The process of the probate court appointing a person to manage the financial affairs of an individual
- Guardianship: The process of the probate court appointing someone to be the guardian over another individual and manage that person’s affairs
- Guardian ad litem: A qualified person appointed by the court to protect the best interests of the individual during the proceeding
- Fiduciary: A person or organization that acts on behalf of an individual and is legally bound to act solely in their best interests
- 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
- Interested Person: Any person or entity who has an interest in the welfare or finances of an individual’s estate
- Protected Person: An incapacitated adult or minor for whom a conservator has been appointed for
- Surety Bond: A type of insurance that protects the estate’s assets if the conservator does not fully fulfill his or her duties
- Ward: An incapacitated adult or minor for whom a guardian has been appointed for
Why Is the South Carolina Conservator Bond Required? Are There Surety Bond Exemptions?
When a conservator is appointed to manage a protected person’s estate, the probate courts in South Carolina will require a surety bond according to South Carolina Probate Code 62-5-409. The bond safeguards the interests and well-being of the protected person’s estate and serves as a form of insurance that guarantees the responsible and ethical behavior of the conservator.
By requiring a bond, the court can help mitigate loss from mismanagement or misuse of the estate's property by the conservator in accordance with Title 62, Article 5 of the South Carolina Probate Code. The bond can also compensate the protected person under conservatorship for any losses incurred due to the conservator’s actions.
The court may waive or reduce the bond requirement for conservators that deposit a portion of the estate’s assets into a financial institution subject to prior court approval for release. Guardianships are generally exempt from the surety bond requirement.
How Does the Probate Court Select the Conservator?
The probate court is required to appoint the person who will best serve the interests of the protected person. Any willing individual or corporation, determined suitable by the court, may petition the probate court to be a conservator. The order of appointment for conservators in South Carolina is as follows:
- A person previously appointed as a conservator or another fiduciary by another court
- The nominee of the protected person if they have sufficient mental capacity and are at least 14 years old
- An agent currently designated with a power of attorney over the protected person’s property
- The spouse of the individual or their nominee
- The adult child of the individual or their nominee
- A parent of the individual or their nominee
- A relative of the individual who is willing to accept the appointment
- A person nominated by a healthcare facility currently caring for the individual
- Any other person
In all cases, the court will consider the preferred nominee made by the adult or minor and will appoint the person who will serve in the best interests of the estate.
How To Apply for the South Carolina Conservator Bond with Jet
Jet’s application process is simple - our goal is to get the conservator bonded as quickly as possible to allow them to focus on their obligations. All we need is the bond limit and basic information about the estate.
Some of the factors Jet considers when underwriting a conservator bond:
- 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
- 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
How Does the Bond Get Filed with the Probate Court?
When you purchase the surety bond, you will immediately receive an email with a copy of your bond and receipt. Jet will sign the bond form, attach our raised seal, and mail it to you. You simply need to sign the form as the principal and deliver it to the probate court overseeing your case.
See the chart at the bottom of the page with a list of all probate court locations in South Carolina and any available contact information for their offices.
Can the South Carolina Conservator Bond Be Canceled?
At Jet, we like to make things easy for our customers, and cancellation of your bond is no exception.
To cancel your bond, send us an email at [email protected] or give us a call. We’ll contact the probate court to request a release when we receive your request. If the court accepts the request, we will cancel your bond and send you a refund for any unearned premium. We will refund any unearned premium charged after the first year of the bond on a prorated basis.
How Long Do You Need the Bond?
County probate courts in South Carolina require the bond to be on file for the entire term that the conservator is appointed, either until the minor reaches the age of 18 or the incapacitated adult no longer requires the care of a conservator. Until that point, the court requires that the bond remains active.
The conservator, the protected person, or any interested party may motion the court to terminate the conservatorship. The conservator must submit a final accounting of the protected person’s estate, and the court must find evidence that the conservatorship is no longer necessary. If approved, the court will release the conservator from liability, and Jet will cancel the bond.
As for renewing your bond, Jet will send a renewal invoice far in advance of the bond term’s expiration date. The bond will remain active with the probate court as long as you make your payment.
How Does a Conservator Avoid Surety Bond Claims in South Carolina?
Put simply, conservators can avoid claims if they fulfill all duties and obligations listed in Title 62, Article 5 of the South Carolina Probate Code. Some common violations that may lead to a bond claim include the following:
- Committing negligence, embezzlement, or fraud
- Misusing or misappropriation of estate assets
- Buying or selling any part of the estate without court approval
- Using estate funds or property for personal use without court approval
- Failing to submit inventory reports or account for all estate assets
Any person with proven damages caused by the conservator of the protected person’s estate may file a claim against the bond. This includes the protected person, creditors to their estate, or a representative of the protected person.
What Happens if I Get a South Carolina Conservator Bond Claim?
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 conservators against faulty claims. Even if the court has requested a bond payout, we assess all documentation provided by the court and the conservator before paying out the claim. However, if a claim is valid and Jet pays the claimant, the conservator must pay Jet back as they are ultimately liable for their actions.
Probate Court Locations in South Carolina
Below is a list of all the county probate courts located in the State of South Carolina, as well as their addresses and contact information.
| County Court | Phone Number | Address |
|---|---|---|
| Abbeville County | (864) 366-5312 | 903 W. Greenwood St., Suite 2300 Abbeville, SC 29620 |
| Aiken County | (803) 584-3157 | 109 Park Avenue SE, Room E126 Aiken, SC 29801 |
| Allendale County | (803) 584-3157 | P.O. Box 603 Allendale, MS 29810 |
| Anderson County | (864) 260-4049 | 100 South Main Street Anderson, SC 29624 |
| Bamberg County | (803) 245-3008 | 2959 Main Highway Bamberg, SC 29003 |
| Barnwell County | (803) 541-1032 | Barnwell County Courthouse Rm 108 Barnwell, SC 29812 |
| Beaufort County | (843) 255-5850 | PO Box 1083 Beaufort, SC 29901 |
| Berkeley County | (843) 723-3800 | 300-B California Avenue Moncks Corner, SC 29461 |
| Calhoun County | (803) 874-3514 | 902 FR Huff Drive St. Matthews, SC 29135 |
| Charleston County | (843) 958-5180 | 100 Broad Street, Suite 469 Charleston, SC 29401 |
| Cherokee County | (864) 487-2583 | 110 Railroad Ave Gaffney, SC 29340 |
| Chester County | (803) 385-2604 | 1476 J.A. Cochran Bypass Chester, SC 29706 |
| Chesterfield County | (843) 623-2376 | 200 West Main Street Chesterfield, SC 29709 |
| Clarendon County | (803) 435-8774 | 411 Sunset Drive, Suite 1304 Manning, SC 29102 |
| Colleton County | (843) 549-7216 | 239 N Jefferies Blvd Walterboro, SC 29488 |
| Darlington County | (843) 398-4310 | 1 Public Square, Second Floor, Room 208 Darlington, SC 29532 |
| Dillon County | (843) 774-1423 | 401 W Main St Room 303 Dillon, SC 29536 |
| Dorchester County | (843) 563-0105 | 5200 E. Jim Bilton Blvd St. George, SC 29477 |
| Edgefield County | (803) 637-4000 | 124 Courthouse Square Edgefield, SC 29824 |
| Fairfield County | (803) 712-6519 | 101 South Congress Street Winnsboro, SC 29180 |
| Florence County | (843) 665-3031 | 180 N. Irby St Florence, SC 29501 |
| Georgetown County | (843) 545-3274 | 401 Cleland St., Room #140 Georgetown, SC 29442 |
| Greenville County | (864) 467-7170 | 301 University Ridge, Suite 1200 Greenville, SC 29601 |
| Greenwood County | (864) 942-8625 | 528 Monument Street, Room: 205 Greenwood, SC 29646 |
| Hampton County | (803) 914-2172 | 1 Courthouse Square, 2nd Floor Hampton, SC 29924 |
| Horry County | (843) 915-5370 | 1301 Second Avenue Conway, SC 29526 |
| Jasper County | (843) 726-7710 | 265 Russell Street Ridgeland, SC 29936 |
| Kershaw County | (803) 425-1503 | 1121 Broad Street, Room 225 Camden, SC 29020 |
| Lancaster County | (803) 283-3379 | 104 N. Main Street Lancaster, SC 29720 |
| Laurens County | (864) 984-7315 | 100 Hillcrest Square, Suite A Laurens, SC 29360 |
| Lee County | (803) 484-5341 | P.O. Box 24 Bishopville, SC 29010 |
| Lexington County | (803) 785-8324 | 205 East Main Street Suite 13 Lexington, SC 29072 |
| Marion County | (843) 423-8240 | 100 W Court Street Marion, SC 29571 |
| Marlboro County | (843) 479-5610 | 105 Main Street - Courthouse Square Bennettsville, SC 29512 |
| McCormick County | (864) 852-2630 | 133 S. Mine Street, Room 101 McCormick, SC 29835 |
| Newberry County | (803) 321-2118 | 1309 College St Newberry, SC 29108 |
| Oconee County | (864) 638-4275 | 415 S. Pine St. Walhalla, SC 29691 |
| Orangeburg County | (803) 533-6280 | 151 Docket Street, Room 105, 1st Floor Orangeburg, SC 29115 |
| Pickens County | (864) 898-5844 | 222 McDaniel Avenue, B-2 Pickens, SC 29671 |
| Richland County | (803) 576-1961 | 1701 Main Street, 2nd Floor, Suite 207 Columbia, SC 29201 |
| Saluda County | (864) 445-4500 | 100 East Church Street, Suite 4 Saluda, SC 29138 |
| Spartanburg County | (864) 596-2556 | 180 Magnolia St, 1st Fl, Ste 302 Spartanburg, SC 29306 |
| Sumter County | (803) 436-2166 | 215 N Harvin St Sumter, SC 29150 |
| Union County | (864) 429-1625 | 210 West Main Street Union, SC 29379 |
| Williamsburg County | (843) 355-9321 | 147 W. Main Street Kingstree, SC 29556 |
| York County | (803) 684-8513 | 2 S Congress Street York, SC 29745 |
