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Mississippi Conservator and Guardian Bond
In Mississippi, when a person cannot take care of themselves or their property, they are legally deemed "wards" of the state. The chancery court then appoints a "conservator" or "guardian" as their decision-maker. The appointed individual, also known as a fiduciary, may be required to obtain a surety bond as outlined in Chapter 20 of the Mississippi Code. The surety bond protects the interests of the ward and their estate from any financial harm caused by the actions of the conservator or guardian.
Have any questions? Give us a call at (855) 470-0877 and speak to a live Mississippi probate bond expert.
What Size Bond Do You Need?
The chancery court overseeing your case will set the required amount for the Conservator/Guardian Bond. Generally, the bond amount must be sufficient to protect the ward, their estate, and all relevant parties.
The chancery court will require guardians to post a bond on a case-by-case basis, with the court determining the specific amount pursuant to MS Code § 93-13-17. The required bond size for conservators is set forth in MS Code § 93-20-416 and is calculated based on the following:
- the value of the estate property in the fiduciary’s control
- plus
- one year’s estimated income
- minus
- the value of deposited securities arranged through a court order for their removal
- minus
- the value of the land the fiduciary is unable to sell without court approval.
How Much Does the Mississippi Conservator and Guardian Bond Cost?
Jet charges a base price of $150 per year for the Mississippi Guardian Bond or the Mississippi Conservator Bond, with the specific cost varying depending on the bond amount. See the chart below to calculate the price for larger bonds. In Mississippi, conservators and guardians can request that the court reimburse them for the bond premium from the estate’s funds pursuant to MS Code § 93-20-119.
To determine how much the bond will cost, conservators and guardians can follow the steps listed below:
- Determine the Required Bond Amount
After reviewing the case details, the chancery court judge will determine the required bond amount for the conservator/guardian.
- Calculate the Total Cost
Guardian bonds and conservator bonds up to $20,000 in size cost $150 per year. For each additional $1,000 increase, the bond premium will increase by the corresponding amount outlined in the table below.
| Bond Amount | Additional Premium (per $1,000) | Bond Cost (1 year) |
|---|---|---|
| $0 - $20,000 | $150 flat rate | $150 |
| $20,001 - $60,000 | $6.00 | $150 - $390 |
| $60,001 - $200,000 | $5.00 | $390 - $1,090 |
| $200,001 - $500,000 | $3.75 | $1,090 - $2,215 |
| $500,001 - $1,500,000 | $2.50 | $2,215 - $4,715 |
| $1,500,000+ | $1.00 | $4,715+ |
We provide discounted tiered pricing that reduces the percentage rate for larger bond amounts. Applicants can also save money by purchasing bonds for multiple years in advance. Apply online in minutes or call one of our probate bond experts at (855) 470-0877 to determine how much your bond will cost.
What Is the Difference Between a Conservator and a Guardian in Mississippi?
A guardian is legally responsible for taking custody of and providing care for a ward, including making medical and personal decisions on their behalf. In contrast, a conservator only has authority and accountability over the ward's finances, property, and monetary matters. Chapter 20 of the Mississippi Code sets forth the responsibilities and duties of each fiduciary type. Below are descriptions of each position, along with their corresponding bond requirements:
- Guardian of a Minor: A person appointed by the court to provide care and custody of a minor, including overseeing the basic care, education, health, and financials of the child in accordance with Chapter 20, Article 2 of the Mississippi Code. The chancery court will typically waive the bond requirement for guardians of a minor unless the minor has significant assets that need protecting.
- Guardian of an Adult: A person responsible for making decisions for all aspects of an adult’s personal affairs and meeting that person’s basic needs, regulated under Chapter 20, Article 3 of the Mississippi Code. Guardians of an adult will not be required to obtain a bond if the court determines it is unnecessary to protect the adult’s interests.
- Conservator of a Minor/Adult: A person appointed by the court to exclusively manage the financial resources of a ward, including caring for property and managing their bank accounts. Conservators of a minor are required to obtain a bond pursuant to Chapter 20, Article 4 of the Mississippi Code.
- Full Guardianship/Conservatorship: A traditional fiduciary relationship where the guardian or conservator has all powers and duties available under Chapter 20 of the Mississippi Code. Conservators under this form of conservatorship will be required to obtain a surety bond before being appointed.
- Limited Guardianship/Conservatorship: A less-restrictive alternative that allows the fiduciary to act on behalf of a ward with specific powers and duties explicitly stated by the court. The chancery court will likely require a surety bond if the fiduciary controls the ward’s property.
Other Important Terms to Know
- Conservatorship: The process of the chancery court appointing a person to manage the financial affairs of an individual
- Guardianship: The process of the chancery court appointing someone to be the guardian over another individual and manage that person’s affairs
- Guardian at litem: A qualified person appointed by the court to protect the best interests of the ward during the guardianship/conservatorship proceeding
- Fiduciary: A person or organization that acts on behalf of a person or persons and is legally bound to act solely in their best interests
- Incompetent Adult: A person over the age of 21 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 a ward
- Minor: An unemancipated individual under 21 years of age
- Respondent: The person who is alleged to be incapacitated and in need of a guardian/conservator
- Surety Bond: A type of insurance that protects the ward if the guardian or conservator does not fully fulfill his or her duties
- Ward: An incapacitated person or minor for whom a guardian/conservator has been appointed for
Why Is the Mississippi Conservator or Guardian Bond Required? Are There Surety Bond Exemptions?
The chancery court appoints guardians and conservators to manage a ward's everyday choices and financial affairs. This includes making financial, health, and other major life decisions that will have a lasting impact on the ward. To protect the ward from any potential harm caused by the decisions of a guardian or conservator, the State of Mississippi may require a surety bond. The bond is a financial guarantee that safeguards the ward’s estate if the guardian or conservator does not fully comply with the chancery court and state standards outlined in Chapter 20 of the Mississippi Code.
The court may waive the surety bond requirement in the following situations:
- The court finds that a surety bond is not necessary to protect the interests of the ward
- The ward is a minor and the minor’s parents waived the bond requirement in a will
- The conservator is a bank insured by the FDIC and qualified to do trust business
- The fiduciary deposits a portion of the ward’s assets into an FDIC-insured financial institution subject to prior court approval for release
Conservators who do not wish to purchase a surety bond can request permission to submit another form of collateral, such as a pledge of securities or a mortgage of land.
How Is the Conservator/Guardian Appointed by the Chancery Court?
The chancery court will always appoint the person who best serves the ward's interests. Any interested party may petition the court to appoint a conservator or guardian over another individual. When determining who to appoint as guardian or conservator, the court will consider the following factors and qualifications of the petitioner:
- The petitioner's relationship with the respondent
- The expressed wishes of the respondent, including any designation made in a will, durable power of attorney, or healthcare directive
- The extent to which the petitioner and the respondent have similar values and preferences
- The likelihood the petitioner will be able to perform their fiduciary duties successfully
In all cases, the court will consider the preferred nominee made by the respondent and appoint the person who will serve in the best interests of the respondent.
How To Apply for the Mississippi Guardian or Conservator Bond with Jet
Jet’s application process is unlike any other - our goal is to get the fiduciary 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. Once completed and submitted, you will either receive your purchase price immediately or a Jet underwriter will review the application. Applicants for bond limits over $50,000 will likely need to submit documentation from the court for review.
Some of the factors Jet considers when underwriting a guardian bond or 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 Chancery Court?
When you purchase the surety bond, you will immediately receive an electronic copy of your bond with a receipt. Afterward, Jet will complete the bond form, attach our raised seal, and mail it to you. You will simply need to sign the form and deliver it to the chancery court overseeing your case. You must complete this step before the clerk can issue letters of guardianship or conservatorship.
Jet has provided a chart at the bottom of the page with a list of all chancery court locations in the State of Mississippi and any available contact information for their offices.
Can the Mississippi Guardian or Conservator Bond Be Canceled?
At Jet, we like to make things easy for our customers, and cancellation of your bond is no exception. However, probate bonds are unique in that the chancery court needs to approve the cancellation before we can take action.
To cancel your bond, send us an email at probate@jetsurety.com or give us a call. When we receive your request, we’ll contact the chancery court to request a release.
If the court accepts the request, we will cancel your bond and send you a refund for any unearned premium.
How Long Do You Need the Bond?
In Mississippi, the chancery court requires that the bond remain on record throughout the fiduciary's entire appointment period, which spans until the adult is no longer in need of a guardian or the minor turns 18 years old. The fiduciary is responsible for upholding the bond until the court relieves them of their responsibilities.
A guardian or conservator can file a petition to the court to terminate the fiduciary relationship, and the court will grant the petition if they find that there is no longer a basis for the appointment. Once the judge approves, the court will release the guardian or conservator from liability, and the surety company will cancel the bond.
As for renewing your bond, Jet sends a renewal invoice by email and mail before the bond term’s expiration date. As long as you make your renewal payment, the bond will remain active with the chancery court.
How Does a Fiduciary Avoid Surety Bond Claims in Mississippi?
Guardians and conservators in Mississippi must adhere to all court orders and ensure they fulfill all responsibilities and obligations outlined in Chapter 20 of the Mississippi Code. While most fiduciaries act with good intentions, occasional mismanagement or errors in accounting can lead to significant challenges for well-intentioned guardians. To avoid these issues, we highly recommend that guardians retain the services of an attorney to assist in managing the case.
Here are some violations that may lead to bond claims on the Mississippi Guardian Bond:
- 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 that belongs to a trust
- Failing to submit inventory reports or account for all estate assets
Any person with proven damages caused by the actions of the guardian or conservator may file a claim against the bond, including the ward, creditors to the estate, or the ward's representative.
What Happens if I Get a Mississippi Guardian Bond Claim?
If the chancery court decides to proceed with a claim on your bond, they will send a claim notice to Jet. Once received, the Jet team will conduct a review and investigation of the claim to determine if it is justified.
Per the Mississippi Guardian Bond form, the surety company must pay valid claims to the claimant not to exceed the bond amount. As a fiduciary and indemnitor, you will ultimately be required to reimburse Jet Insurance Company for the full claim payout amount.
Chancery Court Locations in Mississippi
Below is a list of all the county courts located in the State of Mississippi, as well as their addresses and contact information.
| County Court | Phone Number | Address |
|---|---|---|
| Adams County | (601) 446-6684 | 115 S. Wall Street Natchez, MS 39120 |
| Alcorn County | (662) 286-7700 | P.O. Box 69 Corinth, MS 38835 |
| Amite County | (601) 657-8022 | P.O. Box 680 Liberty, MS 39645 |
| Attala County | (662) 289-2921 | 230 West Washington Street Kosciusko, MS 39090 |
| Benton County | (662) 224-6300 | P.O. Box 218 Ashland, MS 38603 |
| Bolivar County | (662) 412-3117 | P.O. Box 238 Rosedale, MS 38769 |
| Calhoun County | (606) 337-2942 | P.O. Box 8 Pittsboro, MS 38951 |
| Carroll County | (662) 237-9274 | P.O. Box 60 Carrollton, MS 38917 |
| Chickasaw County | (662) 456-2513 | 1 Pinson Square Rd. Houston, MS 38851 |
| Choctaw County | (662) 285-6329 | P.O. Box 250 Ackerman, MS 39735 |
| Claiborne County | (601) 437-4992 | P.O. Box 449 Port Gibson, MS 39150 |
| Clarke County | (601) 776-2126 | P.O. Box 689 Quitman, MS 39355 |
| Clay County | (662) 494-3124 | P.O. Box 815 West Point, MS 39773 |
| Coahoma County | (662) 624-3000 | P.O. Box 98 Clarksdale, MS 38614 |
| Copiah County | (601) 894-4101 | P.O. Box 507 Hazelhurst, MS 39083 |
| Covington County | (601) 765-4242 | P.O. Drawer 1679 Collins, MS 39428 |
| DeSoto County | (270) 365-6884 | P.O. Box 949 Hernando, MS 38632 |
| Forrest County | (601) 545-6014 | P.O. Box 951 Hattiesburg, MS 39401 |
| Franklin County | (601) 384-2330 | P.O. Box 297 Meadville, MS 39653 |
| George County | (601) 947-4801 | 355 Cox Street, Suite A Lucedale, MS 39452 |
| Greene County | (601) 394-2377 | P.O. Box 610 Leakesville, MS 39451 |
| Grenada County | (662) 226-1821 | P.O. Box 1208 Grenada, MS 38902 |
| Hancock County | (228) 467-5406 | 152 Main Street, Suite A Bay St. Louis, MS 39520 |
| Harrison County | (228) 865-4036 | P.O. Drawer CC Gulfport, MS 39502 |
| Hinds County | (601) 968-6537 | P.O. Box 686 Jackson, MS 39205 |
| Holmes County | (662) 834-2508 | P.O. Box 239 Lexington, MS 39095 |
| Humphreys County | (662) 247-1740 | P.O. Box 547 Belzoni, MS 39038 |
| Issaquena County | (662) 873-2761 | P.O. Box 27 Mayersville, MS 39113 |
| Itawamba County | (662) 862-3421 | P.O. Box 776 Fulton, MS 38843 |
| Jackson County | (228) 769-3124 | P.O. Box 998 Pascagoula, MS 39568 |
| Jasper County | (601) 727-4971 | P.O. Box 38 Paulding, MS 39348 |
| Jefferson County | (601) 786-3021 | P.O. Box 145 Fayette, MS 39069 |
| Jefferson Davis County | (601) 792-4204 | P.O. Box 1137 Prentiss, MS 39474 |
| Jones County | (601) 477-3307 | P.O. Box 248 Ellisville, MS 39437 |
| Kemper County | (601) 743-2460 | P.O. Box 188 Dekalb, MS 39328 |
| Lafayette County | (662) 234-7563 | P.O. Box 1240 Oxford, MS 38655 |
| Lamar County | (601) 794-8504 | P.O. Box 247 Purvis, MS 39475 |
| Lauderdale County | (601) 482-9701 | P.O. Box 1587 Meridian, MS 39302 |
| Lawrence County | (601) 587-7162 | P.O. Box 821 Monticello, MS 39654 |
| Leake County | (859) 792-2961 | P.O. Box 72 Carthage, MS 39051 |
| Lee County | (662) 432-2100 | P.O. Box 7127 Tupelo, MS 38802 |
| LeFlore County | (662) 453-6203 | P.O. Box 250 Greenwood, MS 38935 |
| Lincoln County | (601) 835-3411 | P.O. Box 555 Brookhaven, MS 39602 |
| Lowndes County | (662) 329-5800 | P.O. Box 684 Columbus, MS 39703 |
| Madison County | (601) 859-1177 | P.O. Box 404 Canton, MS 39046 |
| Marion County | (601) 736-2691 | 250 Broad St, Ste 2 Columbia, MS 39429 |
| Marshall County | (662) 252-4431 | P.O. Box 219 Holly Springs, MS 38635 |
| Monroe County | (662) 369-8143 | P.O. Box 578 Aberdeen, MS 39730 |
| Montgomery County | (662) 283-2333 | P.O. Box 71 Winona, MS 38967 |
| Neshoba County | (601) 656-3581 | 401 Beacon St, Ste 107 Philadelphia, MS 39350 |
| Newton County | (601) 635-2367 | P.O. Box 68 Decatur, MS 39327 |
| Noxubee County | (662) 726-4243 | 505 South Jefferson Street Macon, MS 39341 |
| Oktibbeha County | (662) 323-5834 | 101 East Main St. Starkville, MS 39759 |
| Panola County | (662) 487-2070 | 215 Pochontas St. Sardis, MS 38666 |
| Pearl River County | (601) 403-2300 | P.O. Box 431 Poplarville, MS 39470 |
| Perry County | (601) 964-8398 | P.O. Box 198 New Augusta, MS 39462 |
| Pike County | (601) 783-3362 | P.O. Box 309 Magnolia, MS 39652 |
| Pontotoc County | (662) 489-3900 | P.O. Box 209 Pontotoc, MS 38863 |
| Prentiss County | (662) 728-8151 | P.O. Box 477 Booneville, MS 38829 |
| Quitman County | (662) 326-2661 | 220 Chestnut St., Ste 2 Marks, MS 38646 |
| Rankin County | (601) 825-1469 | P.O. Box 700 Brandon, MS 39042 |
| Scott County | (601) 469-1922 | P.O. Box 630 Forest, MS 39074 |
| Sharkey County | (662) 873-2755 | P.O. Box 218 Rolling Fork, MS 39159 |
| Simpson County | (601) 847-2626 | P.O. Box 367 Mendenhall, MS 39114 |
| Smith County | (601) 782-9811 | P.O. Box 39 Raleigh, MS 39153 |
| Stone County | (601) 928-5266 | P.O. Drawer 7 Wiggins, MS 39577 |
| Sunflower County | (662) 887-4703 | P.O. Box 988 Indianola, MS 38751 |
| Tallahatchie County | (662) 647-5551 | P.O. Box 350 Charleston, MS 38921 |
| Tate County | (662) 562-5661 | 201 Ward Street Senatobia, MS 38668 |
| Tippah County | (662) 837-7374 | 101 East Spring Street Ripley, MS 38663 |
| Tishomingo County | (662) 423-7010 | 1008 Battleground Dr. Luka, MS 38852 |
| Tunica County | (662) 363-2451 | P.O. Box 217 Tunica, MS 38676 |
| Union County | (662) 534-1900 | P.O. Box 847 New Albany, MS 38562 |
| Walthall County | (601) 876-3553 | P.O. Box 351 Tylertown, MS 39667 |
| Warren County | (601) 636-4415 | P.O. Box 351 Vicksburg, MS 39181 |
| Washington County | (662) 332-1595 | P.O. Box 309 Greenville, MS 38702 |
| Wayne County | (601) 735-2873 | 609 Azalea Drive Waynesboro, MS 39367 |
| Webster County | (662) 258-4131 | P.O. Box 398 Walthall, MS 39771 |
| Wilkinson County | (601) 888-4381 | P.O. Box 516 Woodville, MS 39669 |
| Winston County | (662) 773-3631 | P.O. Drawer 69 Louisville, MS 39339 |
| Yalobusha County | (662) 675-2716 | P.O. Box 260 Coffeeville, MS 38922 |
| Yazoo County | (662) 746-2661 | P.O. Box 68 Yazoo City, MS 39194 |
