According to 38 CFR § 13.230, within 60 days of the appointment as a Veterans Affairs fiduciary, the fiduciary must purchase a surety bond conditioned upon faithfully performing the fiduciary’s duties according to Section 13.140 if the total VA benefit funds exceed $25,000 at the time of appointment.
As a fiduciary, you are responsible for watching the beneficiary’s well-being and making sure, via the benefit funds, that the beneficiary’s needs are met. Fiduciaries guarantee, with their VA fiduciary surety bond, that they will discharge their duties in good faith and according to paragraph (b) of 38 CFR § 13.140.
Where can you purchase instant VA fiduciary bonds?
Colonial Surety offers the direct and digital way to obtain VA fiduciary bonds. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are easy — get a quote online, fill out your information, satisfy underwriting requirements, and enter your payment method. Print or e-file your bond from your office. It’s that simple!