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TheOne1 Asked April 2015

I'm working on a guardianship and have to give an accounting of Mom's assets. Any advice?

I'm working with my Mom's attorney on a guardianship. I have to give an accounting of Mom's assets. Are there any assets I need include besides the obvious (car, jewelry, liquid assets?).

She's got a very expensive riding lawnmower, valuable artwork, antique books, other antique nick nacks... Please advise and thanks!

malloryg8r Apr 2015
Don't forget to include (along with assets) any liabilities, such as mortgage, 2nd mortgage, loan on vehicle (s), credit card balances, and a general amount of utility bills per year, in case the home needs to be sold in some places it can take a year to sell a home (and you would need to pay heat,.elec, water, assoc fee, homeowners ins, etc). Also if there are major repairs needed on home, a brief note about that should be included ("30 yr old roof past due for replacement "). You might consider having 2 or 3 real estate estimates of market value and any needed (for safety or code) repairs.

pamstegma Apr 2015
We did not have to account for her personal clothing, furniture or pots and pans. What the Judge wanted was the current market value of the house , any pension funds, annuities, life insurance, rental income and market value of a vehicle. You should have account numbers and vehicle ID numbers. Artwork should have the title, author, date. Books use ISBN numbers. Take pictures of the items too. READ the instructions you were given. There should be forms for your county/state. There is training for every state. do a search "guardian manual for (state)" and print it out. keep track of your hours doing this and ask the court for compensation.

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