Florida Probate Surety Estate and Court Bonds

Simon Insurance provides many types of bonds …

May 16th, 2013

Today surety and probate bonds are very much a part of the mainstream business world. Anyone in business today that works on projects for or in the community will have no doubt come across the term ‘surety bond’. In most cases a project cannot be authorized to begin without their first being a bond contract in place for all the parties involved to adhere to. However, what is not widely known is the diversity of bonds available today. From Lottery bonds to Medicaid bonds, there are more bonds available and required today than ever before. As more safeguards are put in place to ensure the protection of clients and customers you will need to be aware of the bonds that are required within your field of work. Here are a few examples of bonds that the professionals at Simon Insurance can help you with:

A Lottery Bond – This bond is made for the lottery seller, to ensure that he or she does not hold back or misuse any of the lottery prize money.

ARC Bond – This bond is required for travel agencies to ensure that all the monies received for flights go to the airlines that will be carrying the passengers that bought the tickets from the travel agents.

ICC Broker Bonds – This bond is designed for Freight brokers. It ensures that all shippers and carriers get paid for their transportation efforts.

MFG Home Dealer Bond - Also known as a mobile home dealer bond. This bond is required for any seller of mobile homes. It ensures that they will abide by the terms and stipulations as required in the bond for the safety and well-being of those who live in the mobile homes.

Sales Tax Bond – This bond is required by retailers to ensure that they will pay all required taxes on sales to their company to the government.

MVD / Motor Vehicle Bond – This bond is for car dealership, to serve as a license to sell cars that will protect the consumer in the event of fraudulent activity on the part of the dealership.

Patient Trust Bond – This kind of bond is primarily required for nursing homes, in order to ensure that loved ones are adequately cared and provided for by the business.

Utility Deposit Bond – Utility Bonds are usually required by law for private obliges. Example: Apartment rentals owners to ensure that utilities in the facilities run without disruption.

Wage & Welfare Bond - This kind bond is for business unions to ensure that members in the union receive payments as promised even if certain members of that union pull out.

Bad Credit Surety Bond - Sometimes referred to as high risk surety bonds, as pertains to the applicant of the bond rather than the bond itself. In such circumstances the applicant will have a bad credit history and further requirements will have to be met before the bond is issued.

Medicaid Bond – This bond is for manufacturers that provide and sell medical products. It is to ensure that their products adhere to the standards set by law.

Street Obstruction Bond - This bond is required when a company does construction work in a public place. It allows them to have the authority to cause a minimal obstruction to people as the project is being completed.

Taxi Company Bond – This bond is issued for taxi companies or owners to have the license to transport passengers in their vehicles within a certain community or city; without which they will be liable for any injuries or problems that may occur as a result of their taxi services failing to safeguard the well-being of its passengers.

Compliance Bond – This bond is typically used for construction projects to ensure that the contractor complies with the states regulations.

Dishonesty Bond – A dishonesty bond is actually for the protection of an employer against dishonest employees. Example: An employee steals from the company or embezzles funds. This will ensure that the employer is financially compensated for any losses incurred by the employee’s dishonest activities.

Call us today for a free consultation for all types of Bonds including Court Bonds, License Bonds, Probate Bonds and Permit Bonds. Simon Insurance is based in South Florida and serves clients throughout the United States and Florida including Miami, Ft Lauderdale, West Palm Beach, Tampa, St Petersburg, Cape Coral, Orlando and Jacksonville. We encourage you to browse our website and call or email us today to find out how we can assist you. A fast and free expert consultation is just a phone call away. 561-948-4141.

Tags: Bad Credit Surety Bond, Compliance Bond, Dishonesty Bond, Medicaid Bond, MVD / Motor Vehicle Bond, Patient Trust Bond, Sales Tax Bond, Street Obstruction Bond, Taxi Company Bond, Utility Deposit Bond, Wage & Welfare Bond
Posted in Probate Bonding Agent West Palm Beach, Probate Bonds, Probate Bonds Florida, Surety Bond Company, Surety Bonds for People With Bad Credit, surety bonds, surety bonds west palm beach | No Comments »

Simon Insurance offers a large variety of bonds …

May 9th, 2013

There are many kinds of surety bonds available today due the pervasive occurrences of fraudulent activity and contract breaking. More than ever before people are faced with the legal requirement to safeguard their work or project by securing a bond. In fact, in many instances today the bond is required by law in order for a project or job to begin. Simon Insurance offers a large variety of bonds.

First, let’s look at Contract Bonds. Basically, contract bonds ensure the fulfillment of a contract as per the requirements of its terms and conditions. Because of the nature of the contract surety, contract bonds normally require an exhaustive set of conditions in order to insure the terms of the agreement. That’s why we recommended that you seek expert advice from Simon Insurance Agency before you finalize the bond or contract.

Consider the following contract bonds:

A Bid bond - This bond ensures that the contractor who wins the bid will perform the work promised, without adding additional costs and expenses to the project. This safeguards the project owner from someone bidding too low and then lacking the sufficient funds to complete the project.
A Performance bond – Is a bond that ensures the project will be finished and completed as per its terms and conditions of the contract. If the contractor fails to fulfill terms of the contract, the project owner is to become compensated for any losses accrued by the uncompleted work.
A Payment Bond - A bond that will ensure that workers get paid for labor rendered, including subcontractors and material providers. This will protect the project owner if certain parts of the project are abandoned by unpaid workers.

Now let’s review license and permit bonds as a sub-category of bonds. They fall under the commercial category of bonds and guarantee that the contractor will abide by the terms of the license that filed the bond for. This is required by certain governing bodies, whether it is the state or the local county. The bond will ensure that the contractor or the principle abides by the laws of the jurisdiction when performing and completing the assigned project.

Permit bonds grant a privilege, including:

Auto Dealer Bonds – To ensure that the dealer will adhere to the law of the land when selling vehicles.
Mortgage Lender Bond - The license is to assure that the broker/lender will abide by the laws and regulations of that state and protect the consumers.
Electrician’s license – Ensures that a hired electrician will not break or avoid laws pertaining to work regulations of an electrician.
Plumber’s license - Ensures that a hired plumber will keep the regulations prescribed by the laws of the state.

There are other examples of license and permit bonds, but all these have common objective that is to make sure the principle will not violate the applicable law and thus protect the customer.

Public Official Bonds

Additionally there are Public Official bonds that are used to ensure that appointed officials uphold the laws of the jurisdiction in their assigned duties and activities. This also includes strict accountability with financial transactions and the administration of funds under their jurisdiction and care. There are of course many different kinds of Public Official bonds. Below, I’ve listed some of the more common ones …

Treasurer’s Bonds
Tax Collector’s Bonds
Peace Officer’s Bonds
Judge’s Bonds
Hunting & Fishing license agents
Notaries.

Tags: auto dealer bonds, Different kind of Bonds, Electrician's license, Hunting & Fishing license agents, Judge’s Bonds, Mortgage Lender Bond, Notaries, Peace Officer’s Bonds, Plumber's license, Tax Collector’s Bonds, Treasurer’s Bonds
Posted in Bid Bonds, Contractor Bonding in Florida, License Bonds, Payment bonds, Permit bonds, Probate Bonds, contract bond, performance bonds | No Comments »

License and Permit Bonds

February 4th, 2013

License and permit bonds, sometimes referred to as just “license bonds” or “permit bonds,” is a particular kind of bond for commercial use. Some governmental departments require that certain trades obtain a license and permit bond in order to be officially licensed to perform a specific job or service. This is done to safeguard the customers from potential losses, ensuring that the hired business or contractor complies with laws and rules of the state, or local government agencies.

Who needs a License and Permit Bond?

This bond may be required by law or by some legal jurisdictions for individuals working in some specific vocations, i.e. an electrician, used car dealer or construction contractor. The bond ensures the principal will adhere to the regulating laws and that no law will be violated or ignored in order to complete the work. This in turn protects the customer from potential hazards or incomplete work. As an example, should a contractor be unsuccessful in accomplishing the task stipulated in the bond, the contractor will be under obligation by law to pay for the losses and damages that are incurred because of the deficient work. License bonds therefore are:

Given as per the requirement of the law to guarantee that the work is completed both correctly and legally.
Given to meet the needs of the customer who has paid for certain services for a particular job or project.

How do you obtain a License and Permit Bond?

The experts at Simon Insurance are here to assist you in acquiring a License or Permit bond. Call us today for a free consultation for all types of bonds including Court Bonds, License Bonds, Probate Bonds and Permit Bonds. Simon Insurance is based in South Florida and serves clients throughout the United States and Florida including Miami, Ft Lauderdale, West Palm Beach, Tampa, St Petersburg, Cape Coral, Orlando and Jacksonville. We encourage you to browse our website and call or email us today to find out how we can assist and help you.

Posted in License Bonds, License and Permit Bonds, Uncategorized | No Comments »

What Does A Probate Attorney Do?

January 11th, 2013

An estate lawyer is a legal representative that should have experience in overseeing all legal procedures in a probate estate,. He or she should know how to counsel and guide Personal Representatives/Executors and estate beneficiaries on resolving the various financial issues that they may be faced with.

When representing a Personal Representative/Executor, the estate lawyer will assist with the following:

Identifying and obtaining both probate and non-probate assets
Discovering date of death estimates and value determinations of all of the decedent’s real estate
Obtaining life insurance proceeds
Rolling over and implementing specific elections as it pertains to pension plans, including IRAs and 401(k)s
Counseling on the fees of the decedent’s remaining payments and remaining debts
Monitoring the estate bank account
Finding out if any estate and gift taxes will need to be paid. If that’s the case, then ascertaining where the funds may come from to pay the required taxes
Dealing with income tax issues
Resolving conflicts between the Personal Representatives/Executors and beneficiaries
Aiding and helping with the sale of estate property
Asking for court authorization wide variety of actions as requested by important state probate laws
Transferring certain titles to the names of the estate beneficiaries
Planning and processing all paperwork requested by the probate court in prompt and proficient way
Securing a Probate Bond

Simon Insurance works with estate lawyers across the country in obtaining probate bonds.
Call us today for a free consultation for all types of Probate Bonds including Court Bonds, License Bonds, Probate Bonds and Permit Bonds. Simon Insurance is based in South Florida and serves clients throughout the United States and Florida including Miami, Ft Lauderdale, West Palm Beach, Tampa, St Petersburg, Cape Coral, Orlando and Jacksonville. We encourage you to browse our website and call or email us today to find out how we can assist and help you.

Tags: Probate Attorney Cape Coral, Probate Attorney Ft Lauderdale, Probate Attorney Miami, Probate Attorney Orlando and Jacksonville, Probate Attorney St Petersburg, Probate Attorney Tampa, Probate Attorney West Palm Beach
Posted in Probate Attorney, Probate Bonding Agent West Palm Beach, Probate Bonds, Uncategorized | No Comments »

Contractor Bonding - The Basics

December 11th, 2012

A contract Bond is a type of surety b0nd that is used for construction projects. The purpose of the contract bond is to make sure that the project is completed and that all those involved in the project including the general contractor, sub-contractor and suppliers are paid. There are different reasons for having a contract bond that will vary depending on the type of project involved. There are Bid bonds, Payment bonds, and Performance Bonds each of which serves a specified purpose, as follows:

Bid Bonds- Keep contractors form increasing the bid price after a contract is awarded.
Payment bonds - ensures that contractors pay all subcontractors and pay for all material used.
Performance Bonds - ensures that the contractor completes the project according to the time period specified in the contract. When a contract fails to meet the terms set forth in the contract, a claim against the bond can be made.

How do I get a contract bond:

The contract Bond is typically arranged by the surety agency for the general construction and usually allows the sub contractor to be covered by the bond.

In order to receive a bond the contractor must submit on application together with supporting information as to its financial and fitness. Also the character of the applicant and its ability to show that they are capable of running a business, and to complete projects of the type that the bond covers must be shown.

Move and more owners, both public and private are now requiring some form of contract Bond, from their contractor. To learn more about contract bonds and to see if you qualify, call us today for a free consultation we also write all other types of surety bonds and would be happy to help with any of your bonding needs. Please call us or email us today to find out how we can assist you.

Call us today for a free consultation for all types of Surety Bonds including Court Bonds, License Bonds, Probate Bonds and Permit Bonds. Simon Insurance is based in South Florida and serves clients throughout the United States and Florida including Miami, Ft Lauderdale, West Palm Beach, Tampa, St Petersburg, Cape Coral, Orlando and Jacksonville. We encourage you to browse our website and call or email us today to find out how we can assist and help you.

Tags: Bid Bonds, contract bond in Jacksonville, contract bond in Miami, contract bond in St. Petersburg, contract bond in West Palm Beach, Payment bonds, performance bonds
Posted in Bid Bonds, Payment bonds, Uncategorized, contract bond, performance bonds | No Comments »

The Responsibilities of a Court Appointed Fiduciary

October 31st, 2012

The responsibility of a court appointed fiduciary is a vital one that includes duties that will have legal implications. As a fiduciary, you receive the task of taking care of an individual’s property, referred to as the Estate. Neglecting to effectively manage and safeguard the Estate can lead to personal liability for you. Should you be unwilling or unable to fulfill the required responsibilities as a fiduciary then seek advice via your lawyer, or ask for the court to relieve you from fiduciary obligations?

Here’s a list of procedures to follow when you participate in a matter of this type?

Be well-organized by preparing beforehand, and keep in mind appointments and due dates.
Keep track of any income and expenses. Keep receipts for those incurred costs.
Before paying any creditors of the Estate, talk to your lawyer first, because court authorization may be required. Also, be sure to confer with your lawyer prior to making any investments.
Keep in mind that in most states, investments in something outside of FDIC protected accounts, or lawfully supported obligations are forbidden by law without the consent of the Court.
Consider carefully the options before making any decisions. If you are unsure then speak to your lawyer immediately.
Never create a new account for the estate in your own name. Be sure that the bank account is in the name of the Estate. The merging of your account with the estate account can be seen as criminal activity.
Do not be late with in any report for the Court. This could lead to personal financial responsibility for any losses incurred by your failure to report to the court on time.

Call us today for a free consultation for all types of Surety Bonds including Fiduciary Bonds. Simon Insurance is based in South Florida and serves clients throughout the United States and Florida including Miami, Ft Lauderdale, West Palm Beach, Tampa, St Petersburg, Cape Coral, Orlando and Jacksonville. We encourage you to browse our website and call or email us today to find out how we can assist and help you!

Tags: Fiduciary advice, fiduciary bonds, Fiduciary Bonds West Palm Beach, florida fiduciary bonds, Need help with Fiduciary Bond
Posted in Fiduciary Bonds South Florida, Uncategorized | No Comments »

How to choose a bond company?

September 28th, 2012

When looking for the right bond company it is easy to feel overwhelmed by the lofty nomenclature and the complex procedures that are involved in obtaining a bond. So what should you look for in bond agency? Because you want to make sure that you get the right bond and the right price. Here are some important things to look for when inquiring at any bonding agency:

1. Choose a company that can give you the best rates for bonds in your area or state:

Surety bond rates are usually determined as a percentage of the entire bond amount. This percentage varies based on the specific bond type. For instance, notary public bonds are generally under $10,000 while performance bonds might be can be in the millions of dollars. Because the surety may possibly lose a great deal of money on larger bonds, naturally there will be higher rates. Since every type of bond has different legal guidelines to be adhered to, the jurisdiction where the bond will be held may also impact your surety rate. For instance, the bonding laws for a surety bond in California could be different to that of laws in Florida for surety bond specifications. Find out what the going rates are for the bond that you need by contacting us at Simon Insurance, a proven and authoritative bonding agency.

2. Does the company have a reputable long history in the bonding business?

Simon Insurance is an experienced surety bond broker over 30 years of bonding, which can give you the edge in obtaining the best price and coverage for your bond. Our surety bonds specialists have an extensive history in surety bonding, as well as strong relationships with the leading surety bonding companies, which will work hard for you to ensure that you get the best terms and conditions for your bond.

3. Does the Bond Agency provide the bond you are looking for?

Simon Insurance offers many different types of surety bonds, we strive to provide you with the bond you need. Here are some of the most popular bonds we provide:
•    Executor Bonds
•    Guardianship Bonds
•    Testamentary Trustee Bonds
•    Trustee for Will Bonds
•    Non-Standard Surety Bonds
•    Probate Bonds
•    Fiduciary Bonds
•    Commercial Surety Bonds
•    License and Permit Bonds
•    Court Bonds
•    Contract Bonds and more.

4. Is the bond company fast and responsive to your bond request?

Too many bonding companies today are too slow in expediting and processing your bond in an efficient and prompt manner. We believe at Simon Insurance that the bond broker should prioritize the client’s needs above all other matters in the office so that you can get the bond you need as quickly as possible.

5. Finally is the bond company willing to assist you though the whole process in obtaining a bond.

You want to work with a bond agency that is both willing to serve and educate you on the bonding market in order to give you very best deal available. We at Simon insurance are committed to you from the initial inquiry to the purchase of the bond. We want to make sure you are fully informed of what the bond will cost and how it helps you and your business or family needs.

Tags: Bond Company Orlando, Bond Company Palm Beach, Bond Company South Florida, Bond Company tampa, Florida Bond Company
Posted in Probate Bonding Agent West Palm Beach, Probate Bonds, Probate Bonds Florida, Surety Bond Company, Uncategorized, surety bonds, surety bonds west palm beach | No Comments »

Surety Bonds in Florida

July 31st, 2012

There are many kinds of surety bonds available. Most consumers know that Surety bonds are safeguards that utilize monetary penalties as an incentive for individuals to fulfill the terms of a legal contract. Probate, Administrative and Conservator Bonds are specific types of surety bonds put in place to ensure a party or parties follow the terms of their court assigned position. In the state of Florida, only licensed professionals are qualified to provide surety bond services.
Here are some of the bonds we provide for residents of Florida including West Palm Beach, Ft Lauderdale, Miami, Tampa, Orlando and Jacksonville.

Probate Bond- a bond an executor posts to ensure he/she will perform their duties to the fullest. Similar to collateral, the executor must forfeit the bond if the probate court determines that he/she has failed to live up to the duties of the position.
Administrator’s Bond- is a bond posted on behalf of the Administrator of an estate to ensure that he or she conducts their duties in accordance with the provisions of the will and/or legal requirements of the jurisdiction.
Conservator Bond- is a required entity of a person, official or organization that handles the money or property of an incompetent person. The conservator bond, which is subject to several terms, ensures the preservation of the assets of the estate through the faithful performance of responsibilities according to the law.
Guardian Bond-is required of an adult appointed by a probate court to assume the care and management of an incompetent adult.
Trustee Bonds- a bond that insures that the trustee, a person or entity that holds the assets (corpus) of a trustee, performs their duties to the benefit of the beneficiaries.

Looking for a helpful Surety Bond company in Florida? Then consider the professionals at Simon Insurance. With over 20 years of experience we are ready to assist you with your questions about bonds. We will give you our full attention and draw upon all the necessary resources to give you the very best surety bond to fit your needs. We have a strong and proven track record in making successful contracts, from Construction bonds to Telemarketing bonds, and many other bonds. We can deliver fast results, great prices and quality customer service.

Tags: Surety Bonds in Ft Lauderdale, Surety Bonds in Jacksonville, Surety Bonds in Miami, Surety Bonds in Orlando, Surety Bonds in Tampa, Surety Bonds in West Palm Beach
Posted in Probate Bonds, Surety Bond Company, surety bonds, surety bonds west palm beach | No Comments »

Telemarketing Surety Bond

July 9th, 2012

If you operate or are looking to begin a telemarketing agency then you might be wondering, “Do I need a Telemarketing Surety Bond?” It is important that you have a telemarketing bond as these bonds are mandatory in order to conduct business in the state of Florida by the Florida Department of Agriculture and Consumer Services and are commonly needed before one can even become a licensed telemarketer. Many states require telemarketers to obtain this type of insurance.

Most importantly, a surety bond expresses to the public that you are an agency that can be trusted since you stand behind your business decisions. The bond process is a government method of protecting consumers from a telemarketer, solicitor or anyone who is selling or advertising products or services that purposely or unknowingly deviates from state laws while conducting business. Infractions result in penalties and fines. A Telemarketing Surety Bond is important because your business may depend on it. If you need or are considering a Telemarketing Surety Bond contact us for fast professional service.

Call us today for a free consultation for all types of Surety Bonds including Court Bonds, License Bonds, Probate Bonds and Permit Bonds. Simon Insurance is based in South Florida and serves clients throughout the United States including Miami, Ft Lauderdale, West Palm Beach, Tampa, St Petersburg, Cape Coral, Orlando and Jacksonville. We encourage you to browse our website and call or email us today to find out how we can assist and help you.

Tags: Bonds in Jacksonville Florida, Telemarketing bond Tallahassee, Telemarketing Orlando, Telemarketing Surety Bond in Florida, Telemarketing Surety Bond in South Florida
Posted in Uncategorized, surety bonds, surety bonds west palm beach | No Comments »

What is the difference between Bonds and Insurance

June 5th, 2012

What is the difference between surety Bonds and Insurance?

Many consumers find it difficult to understand the difference between bonds and insurance. Reality is, these two insurance products are very different. The most significant difference is the beneficiary. Traditional insurance is purchased by a policy holder to protect it self from claims of liability. A surety bond is not purchased for the benefit of the policy holder, but for the protection of the third party with whom the policy holder has contracted. A surety bond protects the obligee in the event that the policy holder defaults on fulfilling their contracted work order.

With insurance, an individual is required to pay an insurance premium to their insurance provider, which essentially transfers most (it not all) the risk from the individual buying the insurance to the insurance provider. The primary similarity between insurance and a surety bond is the payment of a premium, because whenever an individual pays a bond premium for any surety bond they (the principal) will not transfer risk on the surety, but rather the payment for claims will be the principal’s responsibility. When dealing with surety bonds, the protection goes to the individual or organization that needs the principal to buy the bond (the obligee).

How then does a surety bond differ from an insurance policy? While a surety bond can indirectly, in the broadest sense of the word provide an insurance for the obligee, a surety bond is distinct from that of a traditional insurance policy because a surety bond will have three parties in the contract, which are:

The principal - the primary party who will be performing a contractual obligation
The obligee - the party who is the recipient of the obligation
The surety - who ensures that the principal’s obligations will be performed.

While an insurance policy is in principle a two party contract. A normal insurance policy is a legally binding contract between an insurance provider and the individual who purchases the policy, commonly referred to as the “policyholder”.

Another factor that distinguishes surety bonds from traditional insurance is loss estimation. Insurance companies use mathematical calculations to evaluate potential losses. A surety bond underwriter assesses their risk in terms of zero loss. Insurance firms typically anticipate to make payment for a certain percentage of claims. Having said that, surety companies do not anticipate to make such payments on claims, and instead treat the premiums paid for surety bonds as service charges. The premiums in essence authorize the principal to use the surety’s funds for financial backing, which gives the necessary guarantee.

In summary, insurance companies are built upon consumers who will probably file claims, and want to make use of their insurance. In the surety bond business, claims are not regarded as inevitable. All parties involved will try to the best of their ability to prevent losses. So bonds are different from insurance policies, but both are equally needed to safeguard us from potential losses and claims.