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Yearly Accounting by Conservator
The Conservator must file
for approval of accounting with the court EVERY YEAR on or before the anniversary
date of appointment as Conservator, if any of the funds or assets are not restricted.
If the Conservator is also the Guardian, then the Guardian/ Conservator must also
submit the annual report of Guardian at the same time. The petition for approval
of the annual accounting must include $175.00 to pay for review by the Court Accountant.
The first accounting must show everything the person owned at the time the Conservator
was appointed. Each year after that, an accounting must be filed and approved by
the court as to all financial transactions that occurred, whether it is money added
to the account, or money spent from the account. The yearly accounting must show
the balance on hand at the end of the accounting period, along with an itemization
of the money and property that remains in the estate. Yearly accountings should
begin where the previous year accounting ended.
When a minor reaches age 18, or when the person whose money is protected dies, the
conservator needs a final order from the court approving the final accounting and
discharging the conservator from further obligation to the court.