GUIDE · GUARDIANSHIP

The guardian's annual accounting report

A practical walkthrough of what the court expects, when it's due, and how the schedules fit together.

1. What the report is

If a court has appointed you as guardian or conservator of an estate, you are a fiduciary: you manage someone else's money under the court's supervision. The annual accounting is how you prove, on paper, that every dollar that came in and went out is accounted for. Courts do not audit every guardian every year — but when they look, an incomplete accounting is the fastest route to surcharges, removal, or worse.

A complete accounting answers four questions with receipts behind each:

What did the estate hold when the period began? (opening balance)
What came in? (receipts)
What went out, and why? (disbursements)
What does the estate hold now? (closing assets)

2. When it's due

Deadlines and formats are set by state statute and local rules. Two examples our rules library tracks:

Texas: an annual accounting is generally due within 60 days of each anniversary of qualification (TX Estates Code §1163.051), with an inventory due early in the appointment.
California: conservators file the mandated GC-400 series forms, with accountings typically reviewed under Cal. Probate Code §§2600–2623 and Cal. Rules of Court 7.575.

Your letters of guardianship or the court's local rules control. Calendar the deadline the day you are appointed, not the week before it's due.

3. How the schedules fit together

Most jurisdictions structure the accounting around schedules that mirror the old Uniform Probate Code layout:

Schedule A — Receipts: every dollar received during the period: Social Security or pension deposits, investment income, asset sales, refunds. Total receipts flow into the summary.
Schedule B — Disbursements: every payment out: care costs, housing, utilities, insurance premiums, professional fees, taxes. Each line needs a date, payee, amount, and purpose.
Schedule C — Assets on hand: what the estate owns at period end — bank balances, investments, real property, vehicles — each with its valuation and the date of that valuation.

The arithmetic that ties it together: opening balance + Schedule A receipts − Schedule B disbursements = expected cash, reconciled to actual bank balances. A mismatch you cannot explain is what reviewers chase first.

4. Assembling it without stress

The report is only painful when it's assembled from a year of shoebox receipts the week before the deadline. The workable pattern:

Record transactions as they happen — or at least monthly — with the account, date, payee, amount, and a category that maps to Schedule A or B.
Reconcile to bank statements monthly. Mark each transaction reconciled when it matches the statement. Twelve small reconciliations beat one annual panic.
Keep an asset inventory with current valuations, and revalue at least annually. Stale valuations on Schedule C draw objections.
Generate, review, file. Pick the accounting period, let the report do the arithmetic, review each schedule against your records, then export the PDF for filing.

The Guardian product automates exactly this flow: period selection, schedule classification, reconciliation state, asset inventory, and a court-formatted PDF — with an audit log recording every entry and edit.

5. Best practices that survive review

Never commingle. Estate money lives in the estate's accounts, never yours.
Pay from the account, not your pocket. Cash advances and later reimbursements are the most surcharged pattern in guardianship reviews.
Keep beneficiary and estate expenses separate from any fee you take; professional fees belong on Schedule B as their own lines.
Document judgment calls. Any unusual payment — repairs, travel, gifts — deserves a sentence of context at the time you make it, not a year later.
Keep records past the appointment. Statutes of limitation on fiduciary claims run for years after discharge.

This guide is general information, not legal advice. Deadlines, forms, and schedules vary by state and change over time — confirm the specifics with the court or a qualified probate professional.

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