WHAT IS A CONSERVATORSHIP BOND AND IS IT REQUIRED?
To protect the person being conserved (the conservatee), the Court will often require the conservator to file a bond. A bond is an insurance policy which is there to assure that if the conservator steals from the conservatee, there is a source from which the money can be obtained to return it to the conservatee. The bond company then institutes legal action against the conservator to recover the money paid out. The conservator may also be subject to criminal penalties for misconduct. In almost every case, even when a spouse is serving as conservator for a husband or wife, the Court may require a bond. The amount of the bond is determined by provisions of the Probate Code.
