What is a Special Needs Trust Bond?
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A special needs trust bond is a form of insurance required of one who becomes a legal guardian of someone who is disabled. When you are named guardian and gain control of that person’s assets, you will need to purchase a special needs trust bond. It protects the disabled person and the assets from fraud or any unethical actions. This type of surety bond is essentially the same as a guardianship bond.
Before guardians purchase a bond from an agency, they must submit themselves to a credit check, have their application approved, and go through other screening processes.