This is an official state court form. This form is used to list the assets and debts of a ward when taking guardianship of a person and/or his or her estate.
Vancouver Washington Guardianship Inventory RCW 11.92.040 1 is a crucial legal provision that outlines the requirements and responsibilities associated with guardianship inventories in Vancouver, Washington. This statute falls under the Revised Code of Washington (RCW) and specifically deals with guardianship and their financial management. Here is a detailed description of Vancouver Washington Guardianship Inventory RCW 11.92.040 1, including its types: Guardianship Inventory: Under RCW 11.92.040 1, a guardianship inventory refers to a comprehensive documentation of the ward's assets, liabilities, income, and expenses. It is mandatory for guardians appointed by the court to provide a thorough inventory within ninety days from the date of their appointment. The inventory must include all pertinent financial information that helps establish an accurate picture of the ward's estate. Key Elements of Vancouver Washington Guardianship Inventory: 1. Identification of Assets: The guardianship inventory must identify and list all assets owned by the ward, including real estate, vehicles, bank accounts, investments, tangible personal property, and any other valuable item. 2. Liabilities and Debts: The inventory should also encompass any outstanding liabilities or debts owed by the ward, such as mortgages, loans, credit card debts, or any other financial obligations. 3. Income Sources: Guardians must disclose all sources of income received on behalf of the ward. This includes pensions, retirement benefits, rental income, social security payments, dividends, or any other form of income generated by the ward's assets. 4. Expenses and Obligations: The inventory should reflect the ongoing expenses and obligations related to the ward's estate. This may include medical bills, utility bills, insurance premiums, property maintenance costs, taxes, and any other regular or occasional expenses incurred. Types of Vancouver Washington Guardianship Inventory: 1. Initial Inventory: This is the first inventory filed by the guardian within ninety days of their appointment. It establishes the baseline of the ward's financial situation at the beginning of the guardianship proceedings. 2. Annual Inventories: After filing the initial inventory, the guardian is obligated to submit annual inventories providing updates on the ward's finances. These reports ensure transparency and enable the court to assess the progress of the guardianship. 3. Final Inventory: When the guardianship is terminated or the ward passes away, the guardian must prepare a final inventory. This document summarizes the ward's assets, liabilities, income, and expenses up until the end of the guardianship. Overall, Vancouver Washington Guardianship Inventory RCW 11.92.040 1 plays a significant role in regulating and monitoring the financial management of guardianship. Guardians are expected to adhere to the guidelines outlined in this statute to ensure the protection and proper utilization of the ward's assets.Vancouver Washington Guardianship Inventory RCW 11.92.040 1 is a crucial legal provision that outlines the requirements and responsibilities associated with guardianship inventories in Vancouver, Washington. This statute falls under the Revised Code of Washington (RCW) and specifically deals with guardianship and their financial management. Here is a detailed description of Vancouver Washington Guardianship Inventory RCW 11.92.040 1, including its types: Guardianship Inventory: Under RCW 11.92.040 1, a guardianship inventory refers to a comprehensive documentation of the ward's assets, liabilities, income, and expenses. It is mandatory for guardians appointed by the court to provide a thorough inventory within ninety days from the date of their appointment. The inventory must include all pertinent financial information that helps establish an accurate picture of the ward's estate. Key Elements of Vancouver Washington Guardianship Inventory: 1. Identification of Assets: The guardianship inventory must identify and list all assets owned by the ward, including real estate, vehicles, bank accounts, investments, tangible personal property, and any other valuable item. 2. Liabilities and Debts: The inventory should also encompass any outstanding liabilities or debts owed by the ward, such as mortgages, loans, credit card debts, or any other financial obligations. 3. Income Sources: Guardians must disclose all sources of income received on behalf of the ward. This includes pensions, retirement benefits, rental income, social security payments, dividends, or any other form of income generated by the ward's assets. 4. Expenses and Obligations: The inventory should reflect the ongoing expenses and obligations related to the ward's estate. This may include medical bills, utility bills, insurance premiums, property maintenance costs, taxes, and any other regular or occasional expenses incurred. Types of Vancouver Washington Guardianship Inventory: 1. Initial Inventory: This is the first inventory filed by the guardian within ninety days of their appointment. It establishes the baseline of the ward's financial situation at the beginning of the guardianship proceedings. 2. Annual Inventories: After filing the initial inventory, the guardian is obligated to submit annual inventories providing updates on the ward's finances. These reports ensure transparency and enable the court to assess the progress of the guardianship. 3. Final Inventory: When the guardianship is terminated or the ward passes away, the guardian must prepare a final inventory. This document summarizes the ward's assets, liabilities, income, and expenses up until the end of the guardianship. Overall, Vancouver Washington Guardianship Inventory RCW 11.92.040 1 plays a significant role in regulating and monitoring the financial management of guardianship. Guardians are expected to adhere to the guidelines outlined in this statute to ensure the protection and proper utilization of the ward's assets.