Guardianship Annual Accounts
A guardian of an estate and person must file a sworn account not later than the sixtieth day after the expiration of twelve months from the date the guardian of an estate qualified, unless the court extends the time. The guardian must also file an annual account each year thereafter until the guardianship is closed. Unless the annual account has been timely filed and approved, the guardian’s letters of guardianship cannot be renewed (a waiver may be considered only if the estate contains negligible or fixed income).
If a guardian fails to file any account, exhibit, or report, the court or any person interested in the ward’s estate or person may cause the guardian to appear and show cause why the account, exhibit, or report should not be filed. At the hearing the court may fine the guardian up to $1,000, revoke the guardian’s letters, or both, unless the guardian can show good cause for the failure to file the account, exhibit, or report.
Marold Law Firm, PLLC regularly works with our guardianship client’s with their annual accounting requirements. Call now to speak with a guardianship lawyer on annual accounts.
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