M&B is licensed in every county of Illinois

Madden & Bergstrom

Serving Lawyers’ Bond Needs for Over 70 Years

Trusted surety bond provider based in Chicago, Illinois.

Getting Started

The Madden & Bergstrom difference

  • Licensed in every county of Illinois

  • Bond expertise derived from 70 years of experience

  • Support that accelerates background checks

  • Accessibility, responsiveness, and a commitment to excellence

  • In-person and online support

Trusted surety bond provider

Work with a trusted surety bond provider based in Chicago, Illinois with the ability to support you in-person or online.

Madden & Bergstrom is a third generation full-service surety bond provider built on great customer service and relationships with the lawyers we serve.

Chicago
Daniel Madden
Meet Daniel Madden

“I am proud of the legacy my grandfather and father have built in the bond industry with Madden & Bergstrom. I will always work hard to earn your business and provide you with a fast, hassle-free process for your surety bonds. “

Daniel Madden

Owner

How it works

What is needed to process your bond?

  • Copy of the petition

  • Bond Form

  • Application (only for bonds over $1 million)

Will

Bonds offered

Needed in a worker’s compensation appeal case. The bond amount will range from $1,000 to a maximum of $75,000. The bond guarantees that all costs of the appeal will be paid in full.

Needed when one dies intestate, or dies without a valid will. A court appointed administrator must carry out the responsibilities according to probate law. The amount of the bond needs to be 1.5 times the amount of the personal property plus the annual income from real estate.

A court appointed guardian is needed in some instances for a minor or incapacitated adult. When a minor receives an inheritance or reaches a settlement, the guardian needs a bond to protect the minor’s assets. Minor settlements can be heard either in civil or probate court. If it is settled in probate court, the minor must be present for the judge to give a proper settlement amount.

The bond must be 1.5 times the settlement unless it is a structured settlement. If it is a structured settlement then only the minimum bond of $1,000 is needed. If only one parent is the guardian, the other parent must be notified.

It is recommended that the lawyer goes to the bank to open the account in the minor’s name with the guardian.

When the guardian opens the account themselves, the higher the risk that the funds get misplaced. After the account is open, vouchers may be presented to the court with all withdrawals subject to further order of court.

The bond must be 1.5 times the personal property. When you receive the court date, present the summons for the guardian disabled to the sheriff’s office.

A GAL will then be appointed by the judge to file a third party report to determine whether a guardianship needs to take place along with a licensed physician’s report.

In order to file, present a cover sheet, three copies of the petition with exhibit A, and Order Appointing Guardian, Summons for Appointment of Guardian of Disabled, Order Appointing Guardian Ad Litem for Alleged Disabled Person (filled out to the best of your ability)

Needed when personal property was wrongfully taken or held by a defendant. The plaintiff must give a five day notice and summon the sheriff, or other officer, to retain the property.

Needed when the court appoints a receiver to avoid bankruptcy, or when a company needs help during their restructuring process. The bond secures the receiver’s obligation with the liquidation of the company’s assets.

Also known as a lost instrument bond. It is needed when a financial certificate is lost or stolen. Before the financial institution issues a replacement, they may require a lost note bond.

If the original document is found, the financial institution will not be liable for honoring the original document. Stock/ Real Estate Certificates, cashier’s checks, titles/ deeds, bonds, loan shares, or a life insurance policy may require a lost note bond.

A creditor may request to seize property from a debtor equal to the size of the debt. In this case the court may require the creditor to obtain an attachment bond.

Security for Cost is an order requiring a party to pay money for all court costs for their opposition. The bond protects the defendant, ensuring that they will be awarded their costs shall they win the case.

Needed when beneficiaries are requesting funds before the 6 month claims period of a probate estate. The bond is double the requested amount.

An order that prohibits a person or entity from doing a specific act. An improper restraint may cause a party to suffer damages. An injunction bond guarantees the person or entity will pay or perform specific acts to make the other party whole.

Illinois requires all Notaries to obtain a surety bond which protects the public of Illinois against any financial loss due to improper conduct by an Illinois Notary.

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We write numerous other types of bonds.

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