What you need
Have last year’s account or the inventory, and all twelve months of bank and brokerage statements. Line 1 is last year’s personal property on hand. On a first account it is the inventory total the form calls Class II property, which appears to leave out real estate.
Nothing is attached to the account unless real estate was sold. Then attach the closing statement.
The example follows Ingrid Solberg, an invented ward. Her Letters issued on 04/01/2024. This account covers 04/01/2025 to 03/31/2026. Her order sets 30 days, so it was due by 05/01/2026.
The assets on hand must match the total
The form starts with what she had, adds income, and subtracts deductions. The result is her personal property on hand. Page 2 then lists those assets, less any fees owed but unpaid. That total must match.
| 1. Beginning balance | $36,662.18 |
|---|---|
| 2–10. Income and other increases | 35,910.81 |
| Total assets and income | $72,572.99 |
| Less: total debts and deductions | (36,300.47) |
| Total personal property assets on hand | $36,272.52 |
The detail
| 3. Social Security, $1,386.00 × 12 | $16,632.00 |
|---|---|
| 4. Pension, $412.50 × 12 | 4,950.00 |
| 5. Interest | 284.16 |
| 6. Dividends | 318.40 |
| 7. Proceeds from sale of assets | 13,640.00 |
| 9. Refunds | 86.25 |
| Lines 2–10 | $35,910.81 |
| 1. Bond premiums | $175.00 |
|---|---|
| 2. Attorney fees | 900.00 |
| 4. Conservator fees | 1,800.00 |
| 5. Accrued conservator fees | 450.00 |
| 6. Taxes | 612.00 |
| 7. Rent, $1,450.00 × 12 | 17,400.00 |
| 8. Inventory value of asset sold | 12,000.00 |
| 9. Other decreases | 2,963.47 |
| Deductions | $36,300.47 |
| Checking | $4,108.37 |
|---|---|
| Savings | 32,614.15 |
| Less: accrued conservator fees | (450.00) |
| Assets on hand | $36,272.52 |
Other decreases are medical bills ($1,184.62), personal needs ($900.00), clothing ($412.35) and pharmacy copays ($466.50).
The sale
Ingrid’s inventory listed 200 fund shares at $12,000.00. Her conservator sold them all for $13,640.00. Line 7 takes the whole price, and deduction 8 takes out the $12,000.00 already in line 1. The net effect is the $1,640.00 gain. Leave out deduction 8 and the account counts the fund twice.
The unpaid fee
The conservator earned $450.00 in March but had not been paid by March 31. It goes in deduction 5, and again as a subtraction under the assets. The bank balances still hold that money. Attorney fees owed but unpaid go in deduction 3 the same way.
Filing in MyMNConservator
You enter each bank account’s income and expenses by category, or upload them as a CSV file. Transfers and property are keyed by hand. The system produces the filed report. MMC manual (opens in a new tab)
Statements you upload there are not filed with the court. They are kept for the court’s auditors. There is no filing fee for the account. Minn. Stat. §357.021 (opens in a new tab)
Serve a copy on the person and on interested persons of record. §524.5-420(a) (opens in a new tab) Serve the Annual Notice of Right to Petition, GAC204, and the Bill of Rights with it. The account ends with an affidavit of service for both. GAC514, para. 10(e) (opens in a new tab)
An account not filed within 60 days of its due date draws an order to show cause. §524.5-420(h) (opens in a new tab)
Getting it allowed
Filing and acceptance without a hearing do not approve the account. Only an order after notice and a hearing allows it. Rule 416(e)–(f) (opens in a new tab)
Notice goes to the person, their spouse and adult children, and anyone else the court names. If VA money came in during the period, the VA regional office is mailed notice too. Unless someone objects, the court can allow the account without you appearing. Rule 416(g)–(h) (opens in a new tab)
The final account
The same form, marked Final Account. A final account always needs a hearing. The order that allows it discharges you and your sureties.
If the ward dies, you distribute the estate. The final report and petition for discharge are due no later than 30 days after that distribution. Minn. Stat. §524.5-431(b) (opens in a new tab)
Common mistakes
Account numbers on the account
The form says not to list account or Social Security numbers. They go only on the confidential Form 11.1.
Sources
- GAC205, Annual / Final Account (opens in a new tab), Minnesota Judicial Branch
- GAC514, Order Appointing Conservator (opens in a new tab), the standard order, para. 10(e)
- Conservator Responsibilities (opens in a new tab), Minnesota Judicial Branch
- MyMNConservator User Manual for Conservators (opens in a new tab), Minnesota Judicial Branch
- Minn. Stat. §524.5-420 (opens in a new tab), the conservator’s reports
- Gen. R. Prac. 416 (opens in a new tab), online filing, notice and hearings to allow accounts
- Minn. Stat. §357.021 (opens in a new tab), court filing fees
Also for Minnesota: Conservator’s Inventory
We make Fidura, guardianship accounting software built on a reconciled register for each ward. See the product
Found an error? developer@fidura.app