surety bonds

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Bonding Requirements for Out-of-State Fiduciaries 1024 682 Patrick J. Thomas Agency

Bonding Requirements for Out-of-State Fiduciaries

  Being named as a fiduciary, whether as an executor, trustee, guardian, or conservator, is an important responsibility. But what happens if you live in one state, and the estate, trust, or protected person you’re managing is in another? This situation is more common than you might think. Families often…

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bookkeeping conservators
Injunction Bonds in Intellectual Property Cases 1024 659 Patrick J. Thomas Agency

Injunction Bonds in Intellectual Property Cases

  When a client’s rights to trademarks, patents, copyrights, or trade secrets are being violated, a court-ordered injunction helps to stop the infringement immediately. But before the injunction can take effect, courts often require something crucial: an injunction bond. What Is an Injunction Bond? An injunction bond (also called a…

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A Guide to Bond Renewals for Long-Term Conservatorships 1024 640 Patrick J. Thomas Agency

A Guide to Bond Renewals for Long-Term Conservatorships

  Serving as a conservator is a long-term commitment. Whether you’re managing the finances of an elderly parent, an adult with disabilities, or another protected person, your role continues year after year, and so does your responsibility to remain properly bonded. When a court first appoints a conservator, it typically…

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caretaker for blind man
Probate Bonds for Guardians of Minor Children or Incapacitated Adults 1000 667 Patrick J. Thomas Agency

Probate Bonds for Guardians of Minor Children or Incapacitated Adults

When a court appoints someone to take legal responsibility for a minor child or an incapacitated adult, it is as much a personal duty as it is a serious legal obligation. Whether that person is managing finances, handling medical decisions, or overseeing day-to-day care, the law requires them to act…

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paperwork
What’s the Difference Between Administrator Bonds and Executor Bond? 1000 667 Patrick J. Thomas Agency

What’s the Difference Between Administrator Bonds and Executor Bond?

When someone passes away, managing their estate often involves more than just following the instructions in a will. Whether a will exists or not, someone must step in to manage the financial affairs of the deceased. This person may be required by the court to secure an administrator bond or…

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people discussing surety bonds and commercial liability insurance
How Appeal Bonds Help Protect Your Assets During an Appeal 1024 535 Patrick J. Thomas Agency

How Appeal Bonds Help Protect Your Assets During an Appeal

When a court decision doesn’t go in your favor, filing an appeal can be the next logical step. However, appealing a judgment or an order isn’t as simple as just submitting paperwork and waiting for a new decision. If the judgment involves a financial obligation—such as damages, penalties, or asset…

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Understanding the Legal Language of Surety Bonds 800 533 Patrick J. Thomas Agency

Understanding the Legal Language of Surety Bonds

Surety bonds can be a complex as they are filled with industry-specific legal terms that may confuse anyone unfamiliar with the field. However, anyone involved in a surety bond agreement—whether you are a business owner, a contractor, or a person who will be managing a conservatorship or guardianship—should at least…

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Everything You Need to Know About Creating a Living Trust 1024 682 Patrick J. Thomas Agency

Everything You Need to Know About Creating a Living Trust

Navigating the world of estate planning can be complex, but understanding the concept of a living trust is essential for anyone looking to manage their assets effectively. Creating a living trust can inevitably become a major part of planning your estate, but it’s not always the best path to take.…

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The 3 Major Classifications of Surety Bonds 1024 682 Patrick J. Thomas Agency

The 3 Major Classifications of Surety Bonds

Surety bond is a catch-all term for a three-party agreement in which one party (the Surety) guarantees or promises a secondary party (the Obligee) that a third party (the Principal) will successfully perform a specified duty or obligation. These types of bonds can be required by courts for certain cases…

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Using Bonds in Stay of Execution on Monetary Judgements 1024 686 Patrick J. Thomas Agency

Using Bonds in Stay of Execution on Monetary Judgements

In the state of Minnesota, according to the MN Statute 550.36 STAY OF EXECUTION ON MONEY JUDGMENT, attorneys can request a stay of execution to temporarily suspend the execution of a judgement made by the court. These stays are ideal for when a defendant needs to pursue further legal action…

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