Operating accounts; bonds

A. The court may require blocked accounts for the guardianship in addition to or in lieu of requiring a bond of the guardian and limit the disbursements from the guardianship estate out of the blocked accounts. Such disbursements shall be made to a separate operating account under the name of the guardian and on behalf of the protected person to provide for the health, welfare, and support of the protected person. This rule shall not apply to the public guardian under NRS 253.010 -.250. B. A guardian shall acquire a bond to secure performance of the guardian’s duties if a court issues a finding that a bond is needed to protect the interests of the beneficiaries. C. Using the inventory of a protected person that shows the value of the guardianship estate’s personal property, the probable annual gross income of the estate, and the sum of the probable annual gross payments of the public benefits of the protected person, the court may set a bond for the protection of a protected person. Except as otherwise provided by statute, every guardian of the estate must furnish a bond that includes an amount 10 percent in excess of the value of the estate as a reasonable amount for the cost of recovery to collect on the bond. D. Posting of a bond does not protect a guardian or eliminate personal liability over and above the amount of the bond, should the bond be found to be insufficient to cover any losses to the protected person for improper actions of the guardian. E. If two or more persons are to serve as guardians and the court does not waive bond, the court may require each guardian to give a bond. F. Because a corporate guardian (whether personal representative, guardian, conservator, or trustee) cannot assume responsibility for the acts of an individual co-guardian, an individual co-guardian who is required to give a bond must provide a separate bond, except to the extent that the court orders the assets to be held solely by the corporate co-guardian. G. The court may require an additional bond for the guardian in the event real or personal property is sold from the guardianship estate. H. The court may increase, decrease, or terminate a guardian’s bond at any time or upon the presentation of facts making it necessary or appropriate to adjust the amount of the bond. I. Upon good cause, any party or interested person may make a request for an adjustment of the guardian’s bond. J. The public guardian’s bond under NRS 253.160 (2) shall be sufficient for this rule, and the court shall not require additional bonds. [Added; effective December 9, 2019.]