Detailed Answer

When a court appoints a guardian of a ward’s estate in North Carolina, the guardian must file an annual accounting to the clerk of superior court. This ensures transparency and protects the ward’s property rights. You must follow the procedures outlined in North Carolina General Statutes Chapter 35A, Article 12, particularly G.S. 35A-1235.

Your annual accounting should cover the period from the date of your last accounting or appointment through the closing date of the current accounting year. You must file it within 60 days after that closing date.

At a minimum, the accounting must include:

• Beginning and ending balances: Show the market value of all assets at the start and close of the accounting period.
• All income received: List funds received on the ward’s behalf, such as wages, interest, dividends, rent, Social Security or VA benefits, and trust distributions.
• All expenses paid: Detail disbursements for the ward’s care. This includes medical bills, housing, utilities, personal care items, insurance premiums, education costs, legal and court fees, and guardian’s fees or commissions.
• Receipts and vouchers: Attach supporting documents, including bank statements, invoices, receipts, and canceled checks. The clerk and interested parties need these to verify each transaction.
• Assets inventory: Update the list of real estate, bank accounts, investments, vehicles, personal property, and any other assets owned by the ward.
• Liabilities: Report the ward’s debts or unpaid bills at the end of the period.

Courts review annual accounts to confirm the guardian’s faithful performance of fiduciary duties. If the court approves, it will enter an order allowing the guardian to continue managing the ward’s estate for another year.

Key Components of a Guardian’s Annual Accounting

• Accounting period and filing deadline (60 days after closing date)
• Starting and ending balances of all assets
• Detailed list of all income sources
• Expenditure breakdown by category
• Receipts, invoices, and bank records as evidence
• Updated inventory of real and personal property
• Listing of outstanding debts or liabilities
• Verification statement signed and sworn by the guardian

Take Action Today

If you serve as guardian for a loved one, you must stay compliant with North Carolina’s annual accounting requirements. Pierce Law Group has experienced attorneys ready to guide you through each step. Contact us now for clear, practical advice. Email us at intake@piercelaw.com or call (919) 341-7055 to schedule a consultation.