Ind. Marion Cnty. Prob. Local Rule LR49-PR00 Rule 409

409.1 Except as otherwise determined by the Court, in every guardianship, the guardian shall

post a corporate surety bond in an amount determined by the Court to be adequate to protect the

assets of the protected person.

409.2 Subject to the discretion of the Court, the guardian shall not be required to post a surety

bond if:

(a) a resident corporate banking fiduciary qualified by law to serve as such is either

the fiduciary or one of several co-fiduciaries, or,

(b) the Court determines that the guardianship assets are of such insufficient amount

as to not justify the cost of the bond.

409.3 Subject to the discretion of the Court, in lieu of a bond otherwise required by law or by

the Court, a Guardian may restrict transfer of all or part of the liquid assets of a Guardianship by

placing those assets in a federally-insured financial institution or in a brokerage account (or any

combination of the two) with the following restriction placed on the face of each account or

document creating or evidencing the account:

NO PRINCIPAL OR INTEREST SHALL BE WITHDRAWN WITHOUT

WRITTEN ORDER OF THE MARION SUPERIOR COURT 8, PROBATE

DIVISION.

409.4 At the time the Court authorizes the creation of the account in lieu of a bond, the

fiduciary and his or her attorney shall execute the Court's attorney's undertaking making the

attorney personally responsible for the deposit of the funds in a restricted account. The

attorney’s undertaking shall be substantially in accordance with the form of MSCPR Form

409.4.

409.5. Within thirty (30) days after an Order authorizing the creation of the account or

investment, a certificate by an officer of the institution at which the account or investment has

been created shall be filed with the Court which affirms that the account or investment is

restricted as required by Court order. The certification shall be substantially in accordance with

the form of MSCPR Form 409.5.

409.6 The guardian and the financial institution shall both promptly notify the Court in writing

in the event that any principal or interest is withdrawn from the account without Court

authorization.