PC-442 Financial Report: Connecticut Conservator

What you need

Have the inventory or the last report, the period’s bank and brokerage statements, and a receipt for every payment. The first line is the total on the inventory, or on hand at the end of the last report.

The example follows Theodore Blanchard, an invented ward whose conservator was appointed 03/10/2025. This is his first report, covering 03/10/2025 to 03/09/2026.

A financial report need not balance

The rules say a financial report need not balance the way an account must. Assets on hand are shown at market value, so a price change on something still held opens a gap. When nothing held changed in value, what came in less what went out is what is on hand. Rule 36.2 (opens in a new tab)

Theodore Blanchard, invented ward · report summary

Total on the inventory	$20,544.62
Additional assets received	0.00
Income received	28,414.40
Net gain on the sale of assets	387.00
Assets and income received, total	$49,346.02
Payments, total	2,093.00
Distributions to or for Theodore, total	28,798.83
Total assets on hand	$18,454.19

Where the figures came from

Income received
Interest	$118.40
Pension, $842.00 × 12	10,104.00
Social Security, $1,516.00 × 12	18,192.00
Income	$28,414.40

Payments
Fiduciary fees	1,200.00
Probate bond premium	225.00
Accounting expenses	350.00
IRS income tax	318.00
Payments	$2,093.00

Distributions
Housing, $2,150.00 × 12	25,800.00
Medical	1,486.35
Spending money, $100.00 × 12	1,200.00
Clothing	312.48
Distributions	$28,798.83

Assets on hand
Checking	5,835.79
Savings	12,618.40
On hand	$18,454.19

The sale

The inventory listed 90 mutual fund shares at $54.00, or $4,860.00. His conservator sold all 90 for $5,247.00. The opening total already holds the $4,860.00, so only the $387.00 gain goes on its line. The rest is the same money, moved from the fund to checking.

So $49,346.02 less $2,093.00 and $28,798.83 leaves $18,454.19, the total on hand.

When you file PC-441 instead

A financial report satisfies the duty to account, unless the court orders an account or principal and income must be kept apart. Then the form is PC-441 (opens in a new tab), which holds assets at the value they came in at and adds a cash reconciliation. Rules 36.1, 36.3 (opens in a new tab)

An estate under $2,000 files neither unless the court orders it. The limit is $10,000 for a bank or trust company, or a fiduciary bonded by a surety licensed in Connecticut. C.G.S. §45a-177(b) (opens in a new tab)

After you file

Send a copy to each party and attorney when you file, and list them on the certification. Rule 33.8 (opens in a new tab)

The judge sets notice and may hold a hearing before approving the report. C.G.S. §45a-178 (opens in a new tab)

The Probate Court Administrator may also audit an account still waiting for approval. C.G.S. §45a-181 (opens in a new tab)

The final report

A final report is due when the conservatorship ends, when the person dies, and when you resign or are removed. Rule 33.14(c) (opens in a new tab)

It is a PC-442 marked final, with Schedule A (PC-442A) listing the proposed distribution and any reserve. After a death, the property goes to the executor or administrator. C.G.S. §45a-660(a)(3) (opens in a new tab)

When the court ends the conservatorship because the person regained capacity, the final report is due within 60 days of that decree. Rule 33.23(d) (opens in a new tab)