GUARDIANSHIP OF THE ESTATE ANNUAL ACCOUNT

Transcription

1 GUARDIANSHIP OF THE ESTATE ANNUAL ACCOUNT PURPOSE: Section 741 requires that a verified annual account be filed for the Estate of a Ward administered under Court supervision within the 60 th day following the first 12 months from the date of qualification. Annual accounts are to be filed each year thereafter until the Estate of the Ward is closed. COMMENTARY: Effective September 1, 1993, all existing or future guardianships are required to file an annual account within the 60 th day following 12 months from the guardian s date of qualification and continuing for each twelve-month period until the guardianship is closed. If the court does not approve the accounting within 120 days following the due date guardianship letters will be terminated. No longer will letters of guardianship be effective indefinitely. They are now given a specific termination date. Section 741 requires that the guardian file the annual account within the time specified above. Section 744 states that when the guardian fails to file accounting exhibits or reports without good cause, the guardian may be fined an amount not to exceed $1, Section 659 provides that letters of guardianship expire within one year and 120 days after they have been issued unless renewed. The renewal of these letters is conditioned on approval of an annual account and the clerk cannot issue letters unless the court enters a specific order of extension. Section 672 requires all courts in this state to review each guardianship annually and determine whether it should be continued, modified, or terminated. You will be contacted by the probate court s staff or by the guardianship investigator to update information so that a home visit can be conducted. Section 741 of the Texas Probate Code, as well as almost all courts in the state, require that invoices, receipts, and cancelled checks be furnished to support the account. The service of an accountant is invaluable in larger Estates in order to comply with the exact requirements of the Probate Code. SOURCE: Prof. Stanley M. Johanson, TEXAS PROBATE CODE ANNOTATED, West Group,

2 IN THE STATUTORY PROBATE COURT NO. OF EL PASO COUNTY, TEXAS IN THE MATTER OF THE ESTATE; OR GUARDIANSHIP OF:, DECEASED; or INCAPACITATED PERSON. NO. ANNUAL ACCOUNT Reporting Period COMES NOW,, (Guardian; Co-Guardians; or Administrator) of the above numbered and styled case, and presents herewith the Annual Account of said estate. Bond (Please fill out the one that applies.) The surety bond in the amount of was renewed through (date); There is a cash bond in the amount of $. or Value of all Property Now in Possession of Estate (Summary Only) Real Estate Notes payable to estate Stock or bond certificates Total cash now on hand (as indicated in Reconciliation) 2

3 Receipts List amounts received as income: From rental, pensions, interests, insurance; from sales of real estate, personal property, stocks, bonds, and notes; and from all other sources, with receipts of principal and income to be shown separately. Source from which income was received Amount (If more space is required, attach additional sheet) Total receipts during the year (as indicated in Reconciliation) Disbursements List and itemize all disbursements and if disbursement is by court order make reference to date of order. Date Disbursement Amount (If more space is required, attach additional sheet) 3

4 Reconciliation Balance of last annual accounting Add: Total receipts during the period Total cash to be accounted for Less: Total disbursements during the period Total cash now on hand (Have your bank certify that this is on deposit. Cash in name of bank or savings institution should be same as certificate from bank or savings institution. * If off balance, do not file without making every effort to reconcile balance including checking to determine if verification certificate from banking institution is correct. If the cost of reconciliation is unreasonably high, explain inability to reconcile.) (Please check the one that applies) Property of the Estate All property belonging to this estate that has come into the possession or the knowledge of the (Guardian; Co-Guardians; or Administrator) has been fully listed and inventoried in the reports filed with this Court. There is no property belonging to this estate that has not been previously inventoried. or Property received during this accounting period that has not been previously inventoried is listed here: Description of Property Amount 4

5 (Please check the one that applies) Changes in the Property of the Estate There have been no changes in the property belonging to this estate that have not been previously reported to the Court. or The following changes in the property belonging to this estate have not been previously reported to the court: Expenses and Debts Remaining Unpaid Reflect any and all debts and expenses not paid, including Attorney fees, Guardian s commission and claims, rejected claims and suits pending giving a short summary of the status of same: Description Amount Dated this day of, 20. Guardian/Administrator 5

6 OATH BEFORE ME, the undersigned Notary Public on this day personally appeared, who, after first being sworn, on oath stated: I am the Guardian or Administrator of the Estate of (the Ward). I have reviewed the foregoing Annual Account filed in this case. The account contains a correct and complete statement of the matters pertaining to the estate of the Ward. The bond premium for the next accounting period for the Ward s estate has been paid; I have filed all tax returns in behalf of the Ward and paid all taxes owed by the Ward during this accounting period. The taxes paid on behalf of Ward were as follows: Name of governmental entity to which taxes were paid: Amount of taxes: $ Dates taxes were paid: Address: Phone Number: Guardian/Administrator SWORN TO AND SUBSCRIBED before me on this day of, 20. Notary Public In and For State of Texas Please return for filing to: El Paso County Clerk Probate Department 500 East San Antonio, Room 105 El Paso, Texas (915)

7 Bank Certificate This certificate must be obtained in every case where there is any cash in the Estate. IT IS HEREBY CERTIFIED that, at the close of business on, unencumbered cash in the amounts shown below was on deposit in this bank to the credit of as Guardian/Administrator of the Estate of. Checking Account: Savings Account: Name of Bank: Name of Officer: Address: Signature of Officer 7

8 IN THE STATUTORY PROBATE COURT NO. OF EL PASO COUNTY, TEXAS IN THE MATTER OF THE ESTATE; OR GUARDIANSHIP OF:, DECEASED; or INCAPACITATED PERSON. NO. ORDER APPROVING ANNUAL ACCOUNT Reporting Period On this day, came to be considered the annual account of said estate; and it appearing to the Court that said account has been on file the number of days required by law (10 days); and that said account is in the form, and sustained by proof, required by law; and that said account is correct. The Court having examined said annual account and: finds that this guardianship should be: the report filed by the Court Visitor the report filed by the Court Investigator had a hearing continued modified terminated It is therefore, ORDERED, ADJUDGED AND DECREED that said annual account be, and is hereby, approved and ordered of record; and the clerk is authorized to issue new letters. SIGNED this day of, 20. JUDGE AnnualAcctForm Revised Jan