interim accountings required by conservator

I am interested in how other fiduciaries handle the requests for interim accountings from family members.
 
A conservator is required to do the annual accounting per statute.  If you are a conservator, a family member may ask you for an interim accounting. If a family member is requesting accountings more frequently, the conservator may agree to do so under the condition that the ward is not paying but the requesting party pays the additional costs.
 
As an alternative, if you are consrvator, you may use Quicken to keep track of your wards’ finances so if a family member wants an interim accounting you just provide them with an itemized category report. That is quick (it takes 5 minutes to run the report) and typically provides the family member with all of the information they are looking for without preparing a full blown accounting.

14-5418(B) doesn’t require the conservator to provide an accounting.  It only requires the conservator to keep “suitable records of the conservator’s administration” and to “exhibit” those records “on the request of any interested person.”  Thus, as the attorney for the conservatorship, I would tell the family members that I will either provide them with a copy of my Quicken register (or similar type internal recordkeeping that I maintain in the ordinary course of business) or that they may come to my office and view copies of the bank statements, receipts, etc.  (Note that 14-5418 does not require you to even provide them with copies of the documents; only that you “exhibit” them.)

I hope this information is helpful. Paul Deloughery
(You can contact me directly by email at paul@delougherylaw.com or phone at 602-443-4888. For more information, visit www.delougherylaw.com)

The information in this blog is general in nature and is not intended to address any particular situation.