Illinois is quietly unusual: the first account comes due a year in, but the statutory default after that is a three-year cycle — unless your circuit’s local rule pulls it back to annual.
Within 60 days of being appointed guardian of the estate, the guardian files an inventory of the disabled adult’s assets — including the ward’s rights to sue third parties. Assets discovered later trigger a duty to supplement the inventory. The guardian also keeps detailed records of assets, liabilities, income, and expenditures from day one, with the ward’s assets strictly separate from the guardian’s.
The account must state receipts and disbursements since the last account, all personal estate on hand, and be accompanied by evidence of disbursements. The evidentiary standard varies by county, but the burden of proof sits with the guardian: every disbursement must be shown to be proper. At an objections hearing, incomplete or inaccurate accounts draw amended-account orders; proven mismanagement draws removal, contempt, and an order to repay the estate. An account that does not balance must be reconciled — small discrepancies may be tolerated, thousands of dollars will not be.
The guardian’s bond (755 ILCS 5/12-2 through 12-6) must equal at least double the value of the personal estate with individual sureties, or 1.5 times with a surety company; a separate bond covers possession of the ward’s real estate. The bond may be waived for a guardian of the person — but not for the estate.
The Guardian product keeps the receipts-and-evidence structure organized continuously, so a three-year account is twelve months of tidy records instead of an archaeology project.
Within 30 days after the one-year anniversary of the issuance of your letters of guardianship. Subsequent accounts default to every three years (755 ILCS 5/24-2) unless the court or a local rule sets a shorter cycle.
Within 60 days of appointment as guardian of the estate. Assets discovered later must be added by supplementing the inventory.
The account states receipts and disbursements since the last account plus all personal estate on hand, supported by evidence of disbursements - and the guardian bears the burden of proving each disbursement was proper.
The discrepancy must be analyzed and explained. Small discrepancies may pass; large ones trigger review. Proven mismanagement can bring removal, contempt, and an order to repay the estate.
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.