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Guardian Administration Procedure

In all guardianships, fiduciaries must file an inventory of the assets in the guardianship with the commissioner’s office within four months after qualification. Guardians must file an account of the financial activities during the first four months of administration within six months after qualification. Thereafter, accounts are due annually. The due date for filings is based upon the qualification date and may not be changed.

For guardians holding cash assets, establishment of a guardian bank account is an important first step. Care should be taken to assure that the account is properly titled as a guardian account. Joint accounts with the minor or custodial accounts under the Uniform Transfers to Minors Act are not proper. The account should be in the name of the guardian, as guardian for the minor. Not all financial institutions can accommodate this requirement. If your bank cannot establish the account as a guardian account, seek another institution.

Copies of the approved form for a guardianship inventory and account, together with the instructions for each form, are available at the Forms link below and at the Forms Task Bar. Original signatures by all fiduciaries are required on all filings. Endorsements in blue ink are preferred for easier verification.

Fiduciary Timeline After Qualification





 



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