Rule 14.5. Waiver or Modification of Bond.
(a) Request. A request for the court to waive or modify a bond requirement for a guardian of the estate may be raised within the petition for adjudication of incapacity or at any other time by petition.
(b) Waiver or Modification. The court may order the waiver or modification of a bond requirement for good cause.
(c) Assurance. If the court waives or modifies a bond requirement, then the court shall consider the necessity and means of periodic demonstration of continued good cause.
Explanatory Comment Pursuant to 20 Pa.C.S. § 5515, the provisions of Sections 5121—5123 of Title 20 relating to bonding requirements are incorporated by reference into Chapter 55 proceedings. When property is held by the incapacitated person as fiduciary, see 20 Pa.C.S. § 5516. ‘‘Good cause’’ may include, but is not limited to, an estate of nominal value, fluctuation in the size of the estate, adequate insurance maintained by the guardian against risk of loss to the estate, the creditworthiness of the guardian, and assets of the guardian relative to the value of the estate.
Source The provisions of this Rule 14.5 adopted June 1, 2018, effective June 1, 2019, 48 Pa.B. 3524.
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