What it asks for
The law asks for a detailed inventory of the estate. You swear it is complete and accurate as far as you know. §93-20-420(1) (opens in a new tab)
| Part | What goes there |
|---|---|
| Summary | Total assets, total debts, estimated yearly income and estimated yearly expenses |
| General information | The ward, spouse and children, with contact details |
| Exhibit A | Your details and eight questions, including the bond amount with a copy attached |
| Assets | Real property, vehicles, bank accounts and CDs, investments, life insurance and annuities, and other property worth more than $1,000 |
| Debts and liabilities | Secured debts with their collateral, and unsecured debts |
| Estimated annual receipts | Fourteen named sources, from wages and Social Security to public assistance |
| Estimated annual expenses | Eighteen named categories, from legal fees to care facility and food |
| Affirmation | You declare it true under penalty of perjury; your lawyer signs too |
Common mistakes
Monthly figures in the yearly sections
Receipts and expenses are yearly estimates. A $1,284.00 monthly Social Security check goes in as $15,408.00.
Life insurance at its face value
Enter each policy’s cash value, as the sample asks. The death benefit is a different figure.
Joint owners left off
Most asset and debt lines have a column for a joint owner. Fill it in wherever one exists.
No copy of the bond
Unless bond was waived or not required, state its amount in Exhibit A and attach a copy.
After you file
The chancellor reviews the inventory. If you expect to find more property, say so in Exhibit A, which asks whether a supplemental inventory will follow.
A conservator who fails to file after the court directs it in writing can be held in contempt. UCCR 6.16 (opens in a new tab)
Your first account
The sample puts the first accounting one year from the order appointing you, unless the court waives it. Your order may set its own date. See the annual accounting.
Sources
- Miss. Code Ann. §93-20-420 (opens in a new tab), the GAP Act as enacted, SB 2828 (2019)
- Uniform Chancery Court Rule 6.16 (opens in a new tab), Supreme Court of Mississippi
- Inventory Report, sample (opens in a new tab), Administrative Office of Courts
Also for Mississippi: Conservator’s Annual Accounting
We make Fidura, guardianship accounting software built on a reconciled register for each ward. See the product
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