Patrick J. Thomas Agency

Surety Bonds and Commercial Insurance
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What You Need to Know About Being a Representative Payee

A representative payee, not to be confused with a personal representative, is a person or organization who is charged with using the benefits distributed to a vulnerable person to pay for his or her basic needs. Understand the Rules That Guide You There are different types of representative payees, depending…

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Why Surety Bonds Are Important for Conservators and Guardians

When appointing a conservator or guardian, most courts in most states will require a surety bond to be posted. Since many people aren’t familiar with how surety works, they often ask why a surety bond is necessary. Why Are Surety Bonds Required? Surety bonds act as a type of insurance…

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Everything You Need to Know About MyMn Conservator Accounting

Conservators in Minnesota must familiarize themselves with MyMNConservator (MCC), a statewide accounting program of all conservators that takes place every year. If you are part of a conservatorship in Minnesota, it is essential for you to be prepared. In order to properly file the accounting, you will be required to…

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Prevent Surety Fraud by Verifying Your Bonds

When you deal with surety bonds, fraud is always a possibility. While it’s rare to come across these cases, it still something that parties should safeguard themselves against. As with any type of insurance fraud, the cases can be large or small. The types of fraudulent activities can range from…

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The Importance of Working with a Court Approved Bond Company

When it comes to obtaining court bonds, it is essential to find and work with a court-approved bond company. It may come as a surprise to many that not all surety bond companies are approved by state and federal courts. There is a general list of federally approved sureties that…

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What’s the Difference Between a Bail Bond and a Surety Bond?

Bail bonds and surety bonds are inherently different, and a person looking for a bail bond is seeking a very different outcome than someone looking for the protection that surety provides. At The Patrick J. Thomas Agency, we help businesses and attorneys acquire surety bonds that act as a special…

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Special Needs Trusts and How They Differ From Conservatorship

Forming a special needs trust is a great way to protect and help secure the financial integrity of vulnerable people who have special needs. If you are a conservator who is in charge of a person with disabilities, a special needs trust may be a good way to plan for…

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Changes to the Surety Bond Requirements for Cosmetology Schools

Changes related to the Board of Cosmetologist Examiners were made during the 2017 Minnesota legislative session. All owners, employees and attorneys should make note of these new laws and requirements, which may have an effect on cosmetology licensing, schools, eyelash extension service providers and the public. A New Law Governing…

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Reducing the Stress of Obtaining a Surety Bond

Stress is the one part of the surety process that doesn’t have to be there. Obtaining a surety bond can be confusing, but by understanding what goes into the process can help clear up a few of the uncertainties that lead to stressful situations. Here are a few ways you…

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The Real Difference Between Surety Bonds and Commercial Insurance?

Many people do not understand the difference between surety bonds and commercial insurance. While the two do share some similarities, there are glaring differences that must be noted and understood in order to decide which one (or both) are right for your specific situation. Here are the basic definitions and…

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