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GC-040, the Inventory and Appraisal

California’s inventory for a guardian or conservator of the estate. You value cash, bank accounts and similar items yourself, and a probate referee values the rest.

By Fidura staff. Last reviewed .

Who files
The guardian or conservator of the estate
Decedents’ estates use the same form, numbered DE-160.
When it’s due
90 days after appointment
Prob. Code §2610(a) (opens in a new tab)
Where
The clerk of the superior court that appointed you
With copies to the conservatee and the lawyers. In a conservatorship, close family too.
The form
Form GC-040
The court’s copy (PDF) (opens in a new tab)

You sign an oath that it is true. The court may allow more time for reasonable cause, on an ex parte petition. §2610(a) (opens in a new tab)

What it asks for

List everything the ward or conservatee owns, valued as of the day you were appointed. Each attachment follows the format of form GC-041, one line per item with its number, description and appraised value. §2610(a) (opens in a new tab)

The parts of GC-040
PartWhat goes there
Attachment 1What you appraise yourself: money, cash items, bank accounts, and insurance or retirement paid in a lump sum
Attachment 2Everything else, appraised by the probate referee: real estate, stocks, mutual funds other than money market funds, vehicles, belongings
Items 1 and 2The total of each attachment, and the two added together
Items 6 to 8The bond: waived, filed in an amount and whether it is enough, or receipts for money in a blocked account
Items 9 and 10The referee’s declaration, with the referee’s commission and expenses

The referee is paid one-tenth of one percent of the value they appraise, within a minimum and maximum set by §8963, plus expenses. What you appraise yourself is not counted. §8961 (opens in a new tab)

Common mistakes

Valuing the house or the stocks yourself

Attachment 1 is only for cash, bank accounts and lump-sum insurance or retirement proceeds. Anything else goes on Attachment 2 for the referee, unless a court order says no referee is needed. Tick item 4 and give that order’s date.

Values from today’s statements

Every value is as of the date of appointment. Use the statement balance for that day.

Appraisal-only property in the total

Joint tenancy property listed only for appraisal goes on a separate attachment. Its value stays out of the totals in items 1 and 2.

Filed but not delivered

Deliver a copy to the conservatee and the lawyers for the ward or conservatee. In a conservatorship, also send one to the spouse or domestic partner and relatives in the first degree, or the next closest relative if there are none, unless the court finds it would cause harm. Each copy goes with the notice of how to object, form GC-042. §2610(a) (opens in a new tab)

If the estate holds VA benefits or property bought with them, the VA office gets a copy within 15 days after filing. Prob. Code §1461.5 (opens in a new tab)

Property found or received later goes on a supplemental inventory. It is valued as of the day it was found or received. §2613 (opens in a new tab)

Your first account

On the first GC-400 account, line 1a is the Attachment 1 total and line 1b the Attachment 2 total. Those appraised values become the carry values the account keeps until a sale.

Sources

Also for California: GC-400, Summary of Account

We make Fidura, guardianship accounting software built on a reconciled register for each ward. See the product

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