What it asks for
The law asks for a detailed inventory of the estate, with your oath that it is complete and accurate as far as you know. §524.5-419(a) (opens in a new tab)
MyMNConservator splits it into tabs and asks for each value as of the date of your Letters. The court’s Inventory Worksheet helps you gather the figures before you key them in. There is no filing fee. Minn. Stat. §357.021 (opens in a new tab)
| Tab | What goes there |
|---|---|
| Financial Accounts | Each bank, investment and debt account: the bank’s name, type, and value |
| Receivables | Money owed to the person or held for them elsewhere, such as a trust, an ABLE account or benefits paid to another payee |
| Personal Property | Items or groups of household goods worth $500 or more, vehicles included, with any loan against them |
| Real Estate | Each property’s address, value and tax-statement year, with any mortgage, rent or liens |
| Review and Submit | Service on the person and interested persons, your bonds, and your oath that it is complete |
Common mistakes
Counting 60 days from the wrong date
The statute counts from appointment. The standard order counts from the Letters, which issue later. File within 60 days of the appointment and you meet both.
Listing every small item
Personal property takes only items, or groups of household goods, worth $500 or more. Leave the rest off.
Account numbers in the name
Name each account by its bank. The number goes in its own box, which is masked on the filed report.
Missing what someone else holds
A trust, an ABLE account or benefits paid to another payee each have a type on the Receivables tab. List the ones the person owns or is owed.
Your first account
Line 1 of your first GAC205 annual account starts from the total the form calls Class II property on this inventory. That appears to be the personal property, not the real estate. Each later account starts from the last one’s assets on hand.
Sources
- Minn. Stat. §524.5-419 (opens in a new tab), when the inventory is due, and the oath
- Gen. R. Prac. 416(e) (opens in a new tab), inventories filed online
- GAC514, Order Appointing Conservator (opens in a new tab), the standard order, para. 10(b)
- MyMNConservator User Manual for Conservators (opens in a new tab), Minnesota Judicial Branch
- Minn. Stat. §357.021 (opens in a new tab), court filing fees
- Conservator Responsibilities (opens in a new tab), Minnesota Judicial Branch
Also for Minnesota: GAC205, Annual / Final Account
We make Fidura, guardianship accounting software built on a reconciled register for each ward. See the product
Found an error? developer@fidura.app