B. Full Annual Accounting Reports

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B. Full Annual Accounting Reports

 


 

Q27:   If I am appointed solely as a guardian (with no mention of being appointed a conservator), with possession or control over some or all of my ward’s financial transactions, property, or assets, do I still need to file an Updated Annual Inventory and Accounting every year?

A27:       Yes.  Guardians are  required to complete an Updated Inventory and Accounting every year. If you have control over all of your ward’s financial transactions, property, or assets, you must file a complete Updated Inventory and Accounting each year.  If you only have control over some of your ward’s financial transactions, property, or assets, then you need to file an Updated Inventory and Accounting of the ward’s financial transactions, property, or assets over which you do have control.

Remember to refer to your Order of Appointment to see what the court has specified as your responsibilities to your ward and for reporting.

Q28:   What if I am a Guardian who does not have any possession or control over my ward’s financial transactions, property, or assets; do I still need to file both an Updated Annual Inventory and Accounting every year?

A28:       This question asks about two different annual report forms: the Updated Annual Inventory and the Annual Accounting.  All guardians are required to complete an Updated Inventory every year, regardless of whether you control the ward’s assets or not.  Keep in mind that the Updated Inventory of the ward’s assets (such as bank accounts, property, vehicles, etc.) is based on information and knowledge that you have that is reasonably available to you concerning the ward.

Guardians do not need to file an Annual Accounting along with the Updated Inventory if you are not handling financial transactions or managing the Ward’s funds, since you do not have control over their financial transactions, property, or assets.  

A guardian may apply to the court for an order stating the guardian shall have no authority over the estate of the ward.  If this order is approved, the annual filing of the Updated Inventory may be waived by the court.  However, if such a guardian becomes a Representative Payee or has control of other assets of the ward, the guardian must notify the court within 7 days of becoming a Representative Payee and shall apply to the court to have the guardian's Letters appropriately modified and file an Annual Accounting with the court.  UCCR § 6-1442.02.

Refer to your Order of Appointment to see what the court has specified as your responsibilities to your ward and for reporting.