Patrick J. Thomas Agency

Surety Bonds and Commercial Insurance
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 Basics of Business Tech Insurance: Do You Need it? 1024 682 Patrick J. Thomas Agency

The Basics of Business Tech Insurance: Do You Need it?

Business and technology have always gone hand in hand, but there’s never been a time in history where they’ve been more inseparable. Nearly every facet of modern businesses is interwoven with some sort of IT system, which presents inherent risks—especially for small businesses who can’t adequately mitigate those risks. This…

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Why is a Surety Bond Required for Representative Payees? 1024 682 Patrick J. Thomas Agency

Why is a Surety Bond Required for Representative Payees?

If you’re in the process of being appointed as a representative payee, you’ve likely discovered that you will need to acquire a representative payee bond before you can “officially” take on the duties that are being assigned to you. Why do you need a representative payee bond? It helps to…

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The Basics of Social Security Representative Payees and Their Duties 1024 682 Patrick J. Thomas Agency

The Basics of Social Security Representative Payees and Their Duties

The Social Security Administration (SSA) administers a range of benefits, funds, and services to eligible individuals, including those who require a representative payee for assistance in managing their funds. When a beneficiary is unable to handle their finances independently, a representative payee can be appointed to step in and ensure…

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The Basics of VA Representative Payees and Their Duties 1024 678 Patrick J. Thomas Agency

The Basics of VA Representative Payees and Their Duties

The Department of Veterans Affairs (VA) provides various benefits and services to eligible veterans and their dependents. These benefits are distributed to beneficiaries for several reasons, primarily to support and enhance the well-being of individuals who have served in the United States military. When these funds cannot be managed by…

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Guide to Becoming a Representative Payee: From Applying to Getting a Bond 1024 710 Patrick J. Thomas Agency

Guide to Becoming a Representative Payee: From Applying to Getting a Bond

Becoming a representative payee allows you to help a person who receives benefits from the Social Security Administration (SSA) or Veteran’s Administration (VA) manage their money and help them live their lives more comfortably. Most people who first seek to become a representative payee don’t understand the position, the process…

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Is Commercial Umbrella Insurance Necessary? 1024 576 Patrick J. Thomas Agency

Is Commercial Umbrella Insurance Necessary?

There are many different types of commercial insurance. Businesses can have a variety of plans that protect them against a variety of lawsuits, but there are times where those plans are not enough. That’s where commercial umbrella insurance becomes useful. These plans can give your business the added protection it…

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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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The Difference Between Trusts and Conservatorships in Estate Planning 1024 682 Patrick J. Thomas Agency

The Difference Between Trusts and Conservatorships in Estate Planning

Trusts and conservatorships are both versatile tools in estate planning. Both have their uses, depending on your circumstances, and both can be used in conjunction with one another, or as alternatives to each other. Which is right for your situation (or that of someone you know)? It helps to understand…

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Tips for Becoming an Emergency Conservator in Minnesota 1024 678 Patrick J. Thomas Agency

Tips for Becoming an Emergency Conservator in Minnesota

Conservators are court-appointed fiduciaries who are charged with managing a protected person’s assets. They can manage a person’s money, investments, and day-to-day spending, and often sign contracts. This is a temporary position that can take time to fill. This often means that a protected person’s needs will not be fulfilled…

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