Security

If the value of the property belonging to the person under tutorship or curatorship exceeds $25,000, the tutor or curator has to provide security. This guarantee is designed to protect the person's patrimony. As the tutorship council, you have to:

decide what type of security the legal representative has to provide and

Exception

Trust companies administering the property of a protected person do not have to provide security.

the amount of the guarantee;
set the deadline by which the tutor or curator has to provide this security;
verify annually that it is still in existence, or accept other security of sufficient value.

Forms of security

The security is usually one of the following:

A suretyship or other type of insurance. The premium is reimbursable from the assets of the person under protection;
A mortgage. The legal representative gives a piece of real estate that they own as a guarantee;
A hold funds. The financial institution where the protected person's money is deposited undertakes to hold this money until the end of the legal representative's administration, unless you authorize it to do otherwise. If you give this authorization, the legal representative has to obtain a document attesting to your decision before they can perform transactions with the financial institution.

If the value of the property falls below $25,000

You may release the tutor or curator from their obligation to maintain security.