OFFICE OF THE SURROGATE CAMDEN COUNTY Surrogate_Name 415 Federal Street SURROGATE Camden, New Jersey 08103 http://www.njsurrogates.com/camden.htm SurrogateDeputy_Name DEPUTY SURROGATE IMPORTANT INFORMATION REGARDING BONDS 1. The Surrogate is the Judge of the Surrogates Court. In that capacity they have appointed you as a fiduciary. Pursuant to New Jersey statutes, the order of appointment includes a requirement that you post bond. NJS 3B: 15-1. The purpose of the bond is to protect the heirs and creditors of the estate. 2. A surety bond is not insurance. You are responsible for any losses which cause the surety to make payment on your behalf. The Indemnity Agreement is your promise to repay the surety. 3. You are free to purchase this bond from any qualified source. 4. The law establishes minimum terms and conditions for indemnity and collection, which must be in each bond. The other terms, such as premium and duration are between you and the bonding company. 5. The initial premium is due when the bond application is completed. Annual premiums are due each year until the estate is closed. Those annual bills will come directly from the bonding agent. 6. If the value of the estate is reduced, you can have the bond reduced. Since the premium is determined by the amount of the bond, reducing the bond will result in a savings in most cases. 7. Please remember that the bond does not terminate at the end of the first year. If you do not notify the bonding company that the estate is closed they will continue the bond and they will bill you each year for another premium. J3C.DOC Page 1 of 3 >>>> 2 Docket No.: ______________ State of New Jersey Camden County Surrogates Court In the matter of the Conservatorship of: CONSERVATORS } _________________________________________, Conservatee BOND AKA: ___________________________________ KNOW ALL MEN BY THESE PRESENTS, That we __________________________________ and ________________________ are held and firmly bound unto the Superior Court of New Jersey in the sum of ________________________________________ lawful money of the United States, to be paid to that Court, to which payment well and truly to be made, we bind ourselves, heiorusr, executors, administrators, successors and assigns, jointly and severally, firmly by the presentses. Sealed with our seals, a datnd ed the _________________________________, Principal and surety hereby submit themselves to the jurisdiction of said Court and irrevocably appoint the Clerk of the said Court as its agenpont u whom any papers affecting their liability on this bond m serveay be d; they waive any right to a jury trial; it is also a provisionth ois f bond that the liability of the aforesaid surety may beor enfced on motion without the necessity of an independent action; andthe m that otion and such notice of mtioon as the Court prescribes my ba e served on the Clerk of the aforesaid Court who shall forthwithil copies to t ma he aforesaid surety at the address given in this bond. The conditions of bond are those established by NJSA 3B: 1throug5-5 h 7 and NJSA 3B: 13A-14. Surrogates Court has appoin ted ___________________________________ to act as Guardian. Now, Therefore, if the aforesaid shall faithfully execute this office to which they are appointed, then this obligation is te voio d, obr else to remain in full force and virtue. Signed, Sealed And Delivered In The Presence Of ___________________________________________ ________________________________PRINCIPAL WITNESS APPROVED: ________________________________SURETY ___________________________________________ SURROGATE BY: ___________________________________________ ATTORNEY-IN-FACT AFFIX SEAL J3C.DOC Page 2 of 3 >>>> 3 Docket No.: ______________ CAMDEN COUNTY SURROGATES COURT IN THE MATTER OF: __________________________________, Conservatee Acknowledgement I, _____________________________________________, acknowledge that I have received a copy of Important Information Regarding Bonds. I understand that the Surrogate requires a bond, but that selection of the bonding company is my option. I further understand that the price, terms and conditions are a private contractual matter between me and the bonding company and that the Surrogate is not a party to that contract. ________________________________________________________ Date: ___________________________________________________ J3C.DOC Page 3 of 3