What it asks for
List every asset at its fair market value on the date letters first issued. If the appointment began as temporary, that is the date of the temporary letters. Rule 45(b) (opens in a new tab)
| Part | What goes there |
|---|---|
| Bank accounts | Restricted and unrestricted: bank, address, type, the name it is under, number and value |
| Stocks, bonds and funds | Company, shares or units, value per unit and value, including tax-deferred assets |
| Life insurance | Company, policy number and cash value |
| Cash on hand | Where it is kept and how much |
| Real property | Description and address, community or separate, value, balance owed, and whether appraised |
| Personal property | Vehicles, business interests, household items, and art or jewelry itemized, with any balance owed |
Attach the ward’s consumer credit report, dated within 90 days before you file. For each bank or securities account, attach the statement showing its balance on the appointment date. For each parcel of real estate, attach an appraisal or broker price opinion. Attach any outside appraisal of other tangible property too. Rule 45(c)(3), (5) (opens in a new tab)
Common mistakes
Values reduced by liens
List each asset at full value. Debts go separately, each saying what asset secures it.
The statement balance as printed
Deduct checks not yet cleared and add deposits not yet received.
Property held in a trust
Leave out property titled to a trust or company, unless you can direct it or the court orders otherwise.
An asset found later
Before your first account, file an amended inventory. For a new unrestricted asset, also petition to raise the bond or restrict it. Rule 45(c)(4) (opens in a new tab)
Give a copy to the ward if they are 14 or older and able to understand it, and to the parent or guardian they live with. §14-5418(B) (opens in a new tab)
Your first account
The inventory’s summary goes on Schedule 2 of the Form 5 budget. Column A of Schedule 2 on your first account, Form 6, comes from there. Each Form 7 after it starts from the account before.
Sources
- AOCPBGN3F, Inventory (opens in a new tab), Arizona Supreme Court, optional format
- AOCPBGN1I, Inventory Instructions (opens in a new tab), Arizona Supreme Court
- A.R.S. §14-5418 (opens in a new tab), when the inventory is due and how to value it
- Ariz. R. Prob. P. 45 (opens in a new tab), attachments, amendments, the budget
Also for Arizona: Form 7, Conservator’s Account
We make Fidura, guardianship accounting software built on a reconciled register for each ward. See the product
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