The accounting duty
A California conservator or guardian of the estate must present an accounting to the court one year after appointment, and then at least every two years unless the court orders accountings more often (Prob. Code §2620(a)). When the conservatee or ward dies, the final accounting is split into two: one for the period ending on the date of death and a separate one for the period after it (§2620(b)). The account follows the general rules in Probate Code §§1060–1064, and Cal. Rules of Court, rule 7.575 adds the form requirements.
A late accounting has real consequences. If the accounting isn't filed, the court must give written notice directing the conservator to file it and set it for hearing within 30 days. Continued failure is a contempt, and the court can remove or suspend the conservator (§2620.2).
Standard or simplified
Rule 7.575 creates two formats. A standard accounting reports receipts and disbursements in subject-matter categories, each subtotaled on its own schedule. A simplified accounting lists receipts and disbursements chronologically. A simplified accounting is allowed only if all of these are true (rule 7.575(d)):
- the estate has no income-generating real property;
- it holds no interest in a trade or business;
- its appraised value, excluding the conservatee's or ward's residence, is under $500,000; and
- the court hasn't directed a standard accounting.
Even then, if Schedule A or Schedule C would run longer than five pages, the standard receipt or disbursement forms must be used for that schedule.
Which forms are mandatory
The Judicial Council forms numbered GC-400 are for standard accountings and those numbered GC-405 are for simplified accountings; forms used in both carry both numbers. The Summary of Account, GC-400(SUM)/GC-405(SUM), is mandatory in every accounting. In a simplified accounting, GC-405(A) (receipts) and GC-405(C) (disbursements) are mandatory too. The other forms are optional, but a fiduciary who doesn't use them must still report in the same categories, with the same information and in the same general format (rule 7.575(e)). The current list is on the Judicial Council forms page.
The standard schedules
| Form | Schedule |
|---|---|
| GC-400(SUM) | Summary of Account |
| GC-400(PH)(1), (PH)(2) | Cash and non-cash assets on hand at the beginning of the period |
| GC-400(A)(1)–(6) | Schedule A receipts: dividends; interest; pensions, annuities and other periodic payments; rent; Social Security, veterans' and other public benefits; other receipts |
| GC-400(AP) | Additional property received during the period |
| GC-400(B), GC-400(D) | Schedule B gains on sales; Schedule D losses on sales |
| GC-400(C)(1)–(11) | Schedule C disbursements: caregiver; residential or long-term care facility; ward's education; fiduciary and attorney fees; general administration; investment expenses; living expenses; medical; property sale expenses; rental property expenses; other |
| GC-400(NI), GC-400(NL) | Net income or net loss from a trade or business |
| GC-400(DIST) | Distributions to the conservatee or ward |
| GC-400(E)(1), (E)(2) | Cash and non-cash assets on hand at the end of the period |
| GC-400(F) | Changes in form of assets |
| GC-400(G) | Liabilities at the end of the period |
| GC-400(OCH), GC-400(OCR) | Other charges and other credits |
Supporting documents
Each accounting must be filed with the account statements that show the balance at the close of the period, and for a first accounting, the statements showing the balance just before appointment (§2620(c); rule 7.575(b)). An original statement or a verified electronic statement qualifies; a printout of an electronic statement can be accepted if the conservator verifies it was printed without alteration.
Frequently asked questions
Can I file a typed account instead of the Judicial Council forms?
Except for the mandatory forms, yes, as long as it follows the same categories, information and general format (rule 7.575(e)(6)).
Does the summary still have to balance?
Yes. The summary carries the §1061 charges and credits, and total charges must equal total credits (§1061).
Does Summafolio handle guardianships of minors?
No. Summafolio blocks matters involving minors.
Summafolio for conservatorships
Summafolio sorts each transaction into the GC-400 receipt and disbursement categories, builds the beginning and ending asset schedules and ties the summary out to the cent, so the totals carry straight onto the Judicial Council forms. It doesn't fill in or file the forms. See the California format page, the California trust accounting guide for the shared §1061 summary, or pricing.