The first 90 days as a guardian of the estate

What to set up while everything is still clean — because the accounting starts on day one, not at filing time.

1. Week 1: accounts and authority

• Take certified copies of your letters of appointment to every bank — accounts move into estate-named titles (“Estate of X, by Y, Guardian”).
• Notify benefit payers: Social Security (representative payee is a separate process from your court appointment), pensions, insurers.
• Post any bond the court ordered; confirm what it covers.
• Check whether the IRS needs Form 56 (notice of fiduciary relationship) for the estate’s tax matters.

2. The inventory and valuations

The inventory lists everything the estate held at appointment — bank balances, investments, real property, vehicles, valuables — each with a value and a valuation date. This is not bureaucracy: the inventory is the opening balance of your first accounting, and every future annual report reconciles back to it. Get the values right, from documents, not estimates.

3. Calendar the deadlines

From your letters and local rules: the inventory deadline, the first accounting (in California, one year from appointment, Prob. Code §2620; in Texas, within 60 days of each anniversary of qualification, Est. Code §1163.051), and any status reports for the person side. Put each in the calendar with a 60-day runway.

4. Set up the ledger before the first transaction

1. One ledger, categories that map to the accounting schedules (receipts vs disbursements).
2. Record every transaction from day one — including the ones you pay personally and reimburse; those are the ones that must be traceable.
3. Reconcile monthly to statements, starting with the first statement after appointment.
4. Collect statements back to before your appointment — first accountings must show the balance immediately before you took over.

5. The expensive-to-undo mistakes

• Paying estate bills from your personal account “just for the first month” — the cash-advance pattern is the most surcharged in guardianship reviews.
• Missing the pre-appointment statements — collecting them twelve months later, after a bank’s archive window, can be painful.
• Vague inventory values — they become the opening balance you must defend for years.
• No decision log — the “why” of every unusual early transaction, written down while the reason is fresh.

The Guardian product is designed to be set up in this window: accounts and opening balances from the inventory, categories mapped to schedules, reconciliation state, and the court-formatted PDF when the first deadline arrives.

FAQ

What is the first thing a new guardian of the estate should do?

Open estate-named accounts and move all funds into them, then file the inventory with dated valuations — the inventory becomes the opening balance of every future accounting.

How far back do I need bank statements?

To before your appointment. First accountings typically must show the balance immediately preceding appointment (California’s Prob. Code §2620(c) says so explicitly), so collect statements from every institution early.

When is the first accounting due?

It varies: California — one year from appointment; Texas — within 60 days of the anniversary of qualification. Your letters of appointment and local rules control; calendar them immediately.

Can I pay estate expenses from my own account at first?

Avoid it. If you must, keep itemised receipts and reimburse as separate, labelled lines — the cash-advance-then-settle pattern is the most commonly surcharged in guardianship reviews.

This guide is general information, not legal advice. Rules vary by jurisdiction and change over time — confirm the specifics with the court, agency, or a qualified professional.

More guides

• How to write a guardianship annual report — the six-step method.
• Guardianship vs conservatorship — the person/estate split clarified.
• How to reconcile fiduciary accounts — the monthly routine.

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