Estate bonds, also known as fiduciary bonds or probate bonds, are often necessary when it comes to managing an estate while serving as an executor or administrator. However, if you’re unfamiliar with surety bonds, it’s easy to make mistakes that can delay the process or even cause legal complications. Understanding…
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Becoming a representative payee for a loved one is an important responsibility. It becomes your job to ensure their financial needs are met and their funds are properly managed. This is why a surety bond is normally required. These bonds provide a layer of financial protection for the person whose…
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Planning for the future is never easy, but ensuring your estate is handled properly is one of the most important decisions you can make for your loved ones. When preparing a will, you’ll need to designate someone to manage your estate after you pass away. This person is known as…
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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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Guardianship is a serious legal responsibility that ensures the well-being and financial stability of an incapacitated adult, minor, or another vulnerable individual. But what happens when a guardian steps down? Whether due to health issues, personal circumstances, or court orders, the transition from one guardian to another must be handled…
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When someone is appointed as an executor, guardian, trustee, or administrator of an estate, they take on a significant financial and legal responsibility. Managing someone else’s assets (whether distributing an inheritance, overseeing financial affairs, or ensuring proper care for a minor or incapacitated adult) requires accountability, integrity, and adherence to…
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The Minnesota Judicial Branch has recently made several updates to its MyMNConservator (MMC) online application, a tool used by conservators to file inventory and annual accountings electronically. Originally launched in 2014, MMC is designed to simplify the reporting process for conservators and improve transparency and accuracy in managing finances for…
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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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As of April 15, 2024, a significant update to the Minnesota guardianship statutes has been enacted, affecting all guardians in the state of Minnesota. This new regulation mandates that guardians must file annual Personal Well-Being Reports and Affidavits of Service using the MyMNGuardian (MMG) online application. About the Statute Update…
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Serving as a representative payee for a veteran in Minnesota is a significant responsibility, as they play an essential role in managing and distributing funds when a beneficiary is unable to handle their own finances due to age, disability, or other factors. This role goes beyond simply managing the money—it…
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