Conservatorship Accounting | GC-400 & GC-405 | California
A conservator of the estate files periodic accountings with the probate court on Judicial Council forms, the GC-400 series for conservatorships and GC-405 for guardianships. Streamline Bookkeeping prepares them and keeps the records between filings.
The forms/
A set of linked forms, not one document:
- GC-400(SUM)/GC-405(SUM), Summary of Account
- GC-400(PH), property on hand at the beginning
- GC-400(A), receipts
- GC-400(B), gains on sales
- GC-400(C), disbursements
- GC-400(D), losses on sales
- GC-400(E), property on hand at the end
- GC-400(G), liabilities at the end
- GC-400(OCR), other credits
Each schedule totals up to the summary, and the summary balances.
Carry value
Non-cash assets carry the value from the Inventory and Appraisal, form DE-160/GC-040. That figure holds until the asset is sold or a later appraisal changes it. It does not move with the market. The closing schedule shows carry value with estimated market value beside it, and only carry value participates in the math.
What the accounting answers
Three questions. Were funds received accounted for. Did the money spent benefit the conservatee. What does the estate hold now.
A payment to a family member, a large cash withdrawal, an unfamiliar vendor. Each one gets documented at the time. A conservator who noted those transactions when they happened arrives at the accounting with the answers on file. One who did not is reconstructing from a bank statement two years later.
Finding what the conservatee owns
Conservators are often family members with a general picture of the estate. Confirming it is where the work starts.
– Recent tax returns show accounts that produced reportable income, and miss holdings that did not
– Banks and brokerages respond to a conservator presenting the order of appointment
– County assessor records are public and searchable by name
– A credit report surfaces open loans, cards, and lines of credit
– State unclaimed property databases turn up forgotten accounts
Between accountings
Statements come in monthly. Transactions get recorded and categorized as they occur, questions flagged while the answer is still available. When the accounting comes due, the schedules come out of maintained records.
Related: court accounting, fiduciary accounting
Streamline Bookkeeping works with families, estate planning attorneys, and professional trustees in Los Angeles, Orange County, San Francisco, across California, and nationwide. Reach out to discuss a matter.
*Bookkeeping services only. Not legal or tax advice. Filing requirements and deadlines come from the court’s order and the attorney on the matter.*