Patrick J. Thomas Agency

Surety Bonds and Commercial Insurance
How to Handle Digital Assets in Estate Planning 1024 682 Patrick J. Thomas Agency

How to Handle Digital Assets in Estate Planning

As technology has advanced over the years, and generations who have been steeped in it become older, the issue of how to handle digital assets in an estate impacts more people than ever. Estate planning is important, and how to handle everything from property and other tangible, real-world assets is…

read more
Reporting Requirements for Minnesota Conservators 1024 682 Patrick J. Thomas Agency

Reporting Requirements for Minnesota Conservators

Minnesota conservators are required by law to make certain reports throughout their service to the conservatorship in which they have been appointed. These reports can be annual, but they can also be required by the court at other times, including:  After a notice or hearing  Upon resignation or termination of…

read more
The Costs and Fees Associated with Establishing a Guardianship 1024 682 Patrick J. Thomas Agency

The Costs and Fees Associated with Establishing a Guardianship

Establishing a guardianship has a few costs that are associated with setting it up. These can vary based on the state and county you reside in as well as whether or not you choose to work with an attorney. Who pays these fees? In most cases, and depending on the…

read more
What Insurance Plans Do Businesses Need for Remote Workers? 1024 682 Patrick J. Thomas Agency

What Insurance Plans Do Businesses Need for Remote Workers?

Remote work has become more common in the U.S. by the day. More and more home businesses are starting up, and more companies are allowing their employees to work, at least partially, at home. While those starting up home businesses have their own set of insurance plans to protect their…

read more
The Difference Between Irrevocable and Revocable Trusts 1024 682 Patrick J. Thomas Agency

The Difference Between Irrevocable and Revocable Trusts

People create trusts for many reasons. Sometimes they want to protect their assets later in life. Sometimes they want to ensure they are properly distributed to their beneficiaries after they pass away. At other times, trusts are used to gradually distribute assets to them over time, providing a type of…

read more
minnesota state flag
Tips for Minnesota Conservators Using the MMC Accounting CSV Method 1024 621 Patrick J. Thomas Agency

Tips for Minnesota Conservators Using the MMC Accounting CSV Method

All Minnesota conservatorships are required to file an accounting every year. These are meant to allow the courts to keep track of the assets and spending of a conservatorship and to ensure that the assets are being properly managed by the conservators in charge of managing them. While the way…

read more
Why Are Replevin Bonds Required in Many Court Cases? 1024 765 Patrick J. Thomas Agency

Why Are Replevin Bonds Required in Many Court Cases?

Replevin is the legal writ that allows seized goods to be restored to their owner, either as a final judgement or a provisional remedy. A replevin bond is a type of surety bond that protects the defendant in a court case, guaranteeing that the moving party will return the defendant’s…

read more
Don’t Forget Cyber Liability Coverage for Your Business 1024 576 Patrick J. Thomas Agency

Don’t Forget Cyber Liability Coverage for Your Business

In an age where cyberattacks and data breaches are on the rise, businesses cannot go without a comprehensive cyber liability insurance plan to protect their business and assets in the event of a cybersecurity threat that becomes a reality. Whether you own a small business, a large organization, or simply…

read more
What are Bank Depository Bonds? (And How They’re Used) 1024 688 Patrick J. Thomas Agency

What are Bank Depository Bonds? (And How They’re Used)

A bank depository bond, also known as a depository bond, is a type of protection for people or organizations who deposit large amounts of money into a bank, which normally exceeds the traditional insurance coverage obtained by the bank.  What exactly is a bank depository bond? How does it work…

read more
What is a Special Administrator of an Estate? How They Differ from Personal Representatives 1024 682 Patrick J. Thomas Agency

What is a Special Administrator of an Estate? How They Differ from Personal Representatives

Special administrators are used in times of need when an estate needs to be preserved and protected before a personal representative can be found and appointed. If no personal representative has been appointed, it can take time to get the right individual into the position, including getting approval by the…

read more