What it asks for
Page 1 is a summary: what the ward owns, less what is owed on it, for a net value. Each asset goes in at its fair market value on the date Letters were issued. Page 2 lists each asset, with these details:
| Detail | What goes there |
|---|---|
| How it is held | The title, and the name and relationship of any co-owner |
| Marital property | Its classification, and which spouse manages it |
| What passes at death | Payable-on-death and beneficiary designations, joint ownership, life estates |
| What is owed on it | Encumbrances, liens and other charges on each item |
| Digital property | Online accounts and other digital assets |
| Income | Every source, listed separately |
Common mistakes
Income in the totals
List each source of income, but leave it out of the summary on page 1.
Valued on the wrong day
The values are as of the date Letters were issued, not the date of the order or the day you file.
Property in someone else’s name left off
The inventory covers the ward’s interests and any marital property interest, however the asset is titled. §54.60(1) (opens in a new tab)
Your first account
Line 1 of the first GN-3500 is this inventory’s net value, and investments stay at these values until they are sold.
Sources
- GN-3440, Guardianship or Conservatorship Inventory (opens in a new tab), Wisconsin Court System
- Wis. Stat. §54.60 (opens in a new tab), what the inventory holds and when it is due
Also for Wisconsin: GN-3500, Account of Guardian/Conservator
We make Fidura, guardianship accounting software built on a reconciled register for each ward. See the product
Found an error? developer@fidura.app