What should a guardian review after the sale of an asset?

After the sale of an asset, it is essential for a guardian to review the necessity of increasing the Surety bond. A Surety bond serves as a financial guarantee that the guardian will fulfill their duties and obligations properly. When an asset is sold, there may be a significant shift in the estate's financial landscape. This can impact the fiduciary responsibility and the level of risk involved in managing the remaining assets.

If the sale significantly changes the value of the estate, the guardian may need to adjust the Surety bond to adequately reflect the new financial situation. Ensuring that the bond is sufficient protects the interests of the ward and aligns with the legal requirements for guardianship, maintaining the guardian's accountability in their role.

The other considerations, such as the market value of the asset, the original purchase price, and potential tax implications, are certainly important for financial and compliance reasons. However, these factors do not directly pertain to the requirement of ensuring the guardian's bond is sufficient and may not necessarily prompt an immediate review of the Surety bond. Instead, those considerations may come into play in a broader assessment of asset management, rather than as a direct consequence of the asset sale itself.