Rule 116 Required Elements

If you are serving as a conservator, meaning you manage money or property for someone who cannot manage it themselves, you have to file regular financial reports with the court called accountings. These reports need to follow the format set out in Rule 26, and they must pick up where your last approved report left off, using the same ending balances.

When you ask the court to approve your accounting, you also need to include some extra information. First, you have to clearly explain any limits the court has placed on your power to give out money or property, and mention the date of the court order that set those limits. Second, you need to explain how the payments or distributions you made during this reporting period followed those court-ordered limits.

Finally, you must tell the court that every distribution you made during this period followed the rules the court set. If any payment did not follow those rules, you need to explain what happened and why you made that payment anyway. This helps the court make sure conservators are handling other people's money properly and staying within the boundaries the court has set.