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LawGirl
LawGirl, Attorney
Category: Estate Law
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Does the initial inventory of a conserved person include loans

Customer Question

Does the initial inventory of a conserved person include loans or debts. Before i was appointed conservator of my brother, who has life use of my family's homestead i paid $14,939.51 in back taxes and maintenance expenses on the property. Should this be listed on the initial inventory or the periodic accounting for the Probate court. Or does this accounting only involve the income and expenses for the period i was appointed?
Submitted: 6 years ago.
Category: Estate Law
Expert:  LawGirl replied 6 years ago.

LawGirl :

Generally yes, the initial inventory includes assets and debts (including loans).

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Expert:  LawGirl replied 6 years ago.
You can indicate whether the estate has paid out any money by attaching a schedule and indicating as such where the PC-441 states "as per Schedule".