Nebraska Conservator Bond

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Nebraska Conservator Bond: A Comprehensive Guide

This guide provides information for insurance agents to help their customers obtain a Nebraska Conservator bond.

At a Glance:

  • Average Cost: Calculated based on a tiered structure
  • Bond Amount: Determined on a case-by-case basis (more on this later)
  • Who Needs It: Most conservators appointed as fiduciaries in Nebraska
  • Purpose: To ensure the protected person receives compensation for financial harm if the conservator mismanages their estate
  • Who Regulates Conservator Bonds in Nebraska: The county court with jurisdiction over where the protected person resides or has property
Nebraska Conservator Bond Form
Nebraska Conservator Bond Form


Nebraska Statute 30-2630 requires all conservators to be appointed by a court before assuming their fiduciary duties. The Nebraska legislature enacted the appointment requirement to ensure that conservators act in the protected person’s best interests when managing their estate. To provide financial security for the enforcement of this requirement, most conservators must purchase and maintain a probate surety bond before becoming appointed as a fiduciary.

What is the Purpose of the Nebraska Conservator Bond?

Nebraska requires most conservators to purchase a surety bond as a prerequisite to being appointed as a fiduciary over an estate. The bond ensures that the protected person will receive compensation for financial harm if the conservator fails to abide by the regulations outlined in Nebraska Statute 30-2640 and Nebraska Supreme Court Rule 6-1441. Specifically, the bond protects the individual if the conservator fails to adhere to all court orders or mismanages the estate’s assets.

For example, if a conservator uses money from the protected person’s bank account to pay for unauthorized expenses or mixes the estate’s funds with their own, the protected person can file a claim against the conservator’s bond to recoup their losses. In short, the bond is a type of insurance in favor of the protected person if the conservator does not fulfill their fiduciary duties.

How Can an Insurance Agent Obtain a Nebraska Conservator Bond?

BondExchange makes obtaining a Nebraska Conservator bond easy. Simply log-in to your account and use our keyword search to find the “Conservator” bond in our database. Don’t have a login? Gain access now and let us help you satisfy your customers’ needs. Our friendly underwriting staff is available by phone (800) 438-1162, email or chat from 7:30 AM to 7:00 PM EST to assist you.

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How is the Bond Amount Determined?

Nebraska Statute 30-2640 dictates that the bond amount must equal the aggregate capital value of the estate’s personal property under the conservator’s control plus the estimated income to be generated by the estate from all sources over the next year.

The bond amount may be reduced by the value of any assets deposited that cannot be withdrawn without a court order. Conservators that do not wish to purchase a bond may request to submit another form of collateral instead, such as a pledge of securities or a mortgage of land.

Can the Bond Amount be Adjusted?

Yes, as Nebraska Supreme Court Rule 6-1441 dictates that the court may adjust the bond amount or require an additional bond at any time if the current bond is insufficient. Also, Nebraska Statute 30-2645 permits any interested person to petition the court to adjust the bond amount or require an additional bond after the conservator is appointed.

What are the Underwriting Requirements for the Nebraska Conservator Bond?

Most surety companies will examine the following factors when determining eligibility for the Nebraska Conservator bond:

  • Conservator’s credit history
  • Whether or not the estate has an attorney
  • Whether or not the conservator is a family member
  • The conservator’s occupation
  • Whether or not the conservator is replacing a prior fiduciary
  • If the conservator has ever committed a felony
  • Whether or not there is any ongoing business in the estate
  • If a creditor is requiring the bond
  • If the bond amount is greater than or equal to the estate’s value

How Much Does the Nebraska Conservator Bond Cost?

Surety companies typically determine the premium rate for Conservator bonds based on a tiered structure, so larger bond amounts will be charged a lower premium rate than smaller bonds.

The following table illustrates the pricing structure for the Nebraska Conservator bond:

$1,500,000 Conservator Bond Cost

Bond Amount Premium Rate Total Bond Cost
First $20,000 0.75% $150
Next $40,000 0.60% $240
Next $140,000 0.50% $700
Next $300,000 0.375% $1,125
Next $1,000,000 0.25% $2,500
Total cost of $4,715

Who is Required to Purchase the Bond?

Nebraska requires most conservators to purchase a surety bond as a prerequisite to becoming a court-appointed fiduciary. To paraphrase Nebraska Statute 30-2209, a “conservator” is an individual or organization appointed as a fiduciary to make financial decisions on behalf of a protected person, including paying bills, making investments, and managing the estate. Likewise, a “protected person” is a minor or incapacitated person for whom a conservator has been appointed. Additionally, a “minor” is an unemancipated person under the age of 19, and an “incapacitated person” is an adult who has been judged by a court to be unable to manage their property or take care of themselves.

Conservators are not required to purchase a surety bond, unless explicitly required by the court, in the following situations:

  • The personal property of the protected person’s estate has a net value of less than $10,000
  • The protected person executes a written, valid power of attorney that specifically nominates a conservator and chooses to waive the bond requirement
  • The court determines that a bond is not necessary to protect the estate’s assets
  • The conservator is the Public Guardian or a financial institution defined under Nebraska Statute 8-101.03

Nebraska Conservator Bond

How do Nebraska Conservators Become Appointed as Fiduciaries?

Conservators in Nebraska must navigate several steps to become appointed as fiduciaries. Below are the general guidelines, but appointees should refer to the appointment statutes or the Nebraska Courts’ website for details on the process.

Step 1 – Hire an Attorney

Although not explicitly required, it is highly recommended that conservators hire an attorney to assist with the conservatorship process.

Step 2 – Determine Priority

Priority to serve as a conservator is granted in the following order:

    • The protected person’s nominee under a durable power of attorney or a person acting under a power of attorney
    • Persons already appointed as a fiduciary over the protected person in this state or another, or their nominee
    • A person or corporation nominated by the protected person if the protected person is at least 14 years old and has the sufficient mental capacity
    • The spouse of the protected person or their nominee
    • The adult child of the protected person or their nominee
    • A parent of the protected person or their nominee
    • A relative of the protected person who has resided with him or her for at least 6 months before the petition is filed
    • The nominee of a person or corporation nominated by an entity caring for or paying benefits to the protected person
    • The Public Guardian

The court will appoint the conservator best suited for the individual and may choose to appoint a person with lower priority or without priority. An owner, operator, or employee of a long-term care facility that provides care to the protected person is ineligible for appointment unless they are related to that person.

Step 3 – File a Petition for Appointment

Persons seeking a conservatorship over a minor or incapacitated adult must file a petition for appointment with the county court with jurisdiction over where the minor/adult resides or owns property. Petitioners can obtain the necessary forms online here or from the court, and must ensure they include the following information:

    • Personal information of the incapacitated adult/minor
    • Personal information about the person seeking the appointment
    • General statement and evaluation of the protected person’s condition and estate
    • The reasoning for why a conservatorship is necessary
    • Any additional information requested by the court

The person to be protected, the parents or guardian of the person, or any other person interested in the individual’s estate, affairs, or welfare may petition the court to begin protective proceedings over a minor or incapacitated adult.

Step 4 – Submit the Required Forms

After filing the petition for appointment, the proposed conservator must submit the following forms to the court:

All of the forms listed above must be submitted at least 10 days prior to the hearing. Financial institutions are not required to undergo a criminal history check.

Step 5 – Attend a Hearing

Conservators must attend a hearing conducted by the court and present evidence as to why the minor or incapacitated adult is in need of conservatorship. The court will examine the evidence presented by the conservator as well as that presented by the individual being evaluated (if any) and make a determination as to whether or not conservatorship is necessary.

Any interested person can apply to the court to participate in the hearing. If the court finds a basis for the appointment, it will issue a letter of conservatorship to the petitioner.

Step 6 – Purchase a Surety Bond

Unless otherwise exempt, conservators must purchase and maintain a surety bond (limits outlined above).

How do Nebraska Conservators File Their Bonds?

Conservators should file their completed bond forms, including the power of attorney, to the clerk of the county court with jurisdiction over where the protected person resides or owns property.

The surety bond requires signatures from the surety company that issues the bond, the applicant, and a notary public. The surety company should include the following information on the bond form:

  • Legal name of the entity/individual(s) buying the bond
  • Legal name and county of the protected person
  • Surety company’s legal name
  • Bond amount
  • Type of fiduciary relationship
  • Date the bond is signed and goes into effect

What can Nebraska Conservators do to Avoid Claims Made Against Their Bonds?

To avoid claims against their bonds, conservators in Nebraska must ensure that they:

  • Perform all of their fiduciary duties
  • Obey all court orders
  • Do not mismanage the estate’s assets

Nebraska Conservator Bond