Legal Question in Wills and Trusts in Illinois

As guardian you are responsible for submitting to the court an annual accounting which summarizes during that period any income, expenses, sale of property, etc. It is advised to keep records. All receipts are not so important unless you are spending cash. It is advised to spend funds from an estate checking account so that you have canceled checks to confirm expenditures. You may want to review an annual accounting form used by another guardian, provided by the probate court or online forms for that purpose.

Every year, you will be required to present an annual Accounting to the Court which describes all income and all disbursements from your mother's assets. The Court requires a specific listing of each individual expense that was paid on behalf of your mother. This listing must include the date of the expenditure, the person or organization who was paid, and the reason for the payment. The Court also requires similar details about income.

This Accounting must be prepared according to a very specific format which is somewhat different from more common practices used by tax accountants. To generate this Accounting, your attorney will need to see every statement from every financial institution that holds your mother�s assets, starting with the month that you were appointed as Guardian.

Place each statement that you receive throughout the year into a folder. Be sure to mark each expenditure on each statement, so that you can easily recall each expenditure. Be sure to order statements that provide copies of cancelled checks. Hold on to receipts that aren't described by cancelled checks or other clear expenditure (e.g., direct withdrawal to the nursing home). At the end of the year, provide all of this to your attorney.

Feel free to call me with any questions.