When a court appoints a custodian to manage funds or property for someone who cannot legally manage them, usually a minor or an incapacitated individual, a custodian bond means the appointed person manages those assets responsibly, protects them from loss or misuse, and complies with all court reporting requirements.
The terms overlap in many jurisdictions. Usually, a guardian bond covers the ongoing management of a ward’s full financial affairs. A custodian bond more often relates to a specific pool of assets held under court supervision, such as settlement proceeds for a minor. Your attorney or the court clerk can confirm which type is required.
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A custodian bond is required by a court from a person appointed to manage specific assets for someone who cannot do so themselves, usually a minor receiving a settlement or an incapacitated adult with court-supervised finances.
Premiums are usually 0.2%–1.0% of the bond amount annually, consistent with probate and guardianship bond pricing.
Most sureties issue bonds within 24–48 hours of receiving the court order and asset documentation.
