Understanding the Court’s Financial Oversight Requirements and Your Obligations as a Guardian
In Orlando, guardianship cases often involve family members stepping up to care for a loved one who can no longer manage their personal or financial affairs. It’s a deeply personal process—but it’s also a legal one. Florida courts don’t just hand over control of someone’s assets without strict safeguards. One of the most important of these safeguards is the annual accounting requirement.
I’m Beryl Thompson-McClary, an experienced Orlando Guardianship Attorney. I represent both guardians who want to comply with the law and family members who have concerns about how a loved one’s assets are being handled. One of the most common questions I receive is about the annual accounting process—what’s required, how it works, and what happens if it’s done incorrectly or not at all.
If you’re involved in a guardianship case in Orange County or anywhere in Central Florida, I can help ensure your responsibilities are clear and your rights are protected. To schedule a consultation, call my office at 1-888-640-2999.
Let’s walk through what the law requires, and what you should expect whether you’re preparing the report or reviewing it as an interested party.
What Is an Annual Accounting and Why Is It Required in Florida?
Under Florida law, any guardian appointed over the property of a ward is legally obligated to file a detailed financial report with the court every year. This report—called the Annual Accounting—is governed by Florida Statutes § 744.367and enforced by the court with strict deadlines and content requirements.
The purpose of the annual accounting is to provide transparency. Whether the ward is a minor with assets, an adult with special needs, or a senior with diminished capacity, the court wants to see exactly how their money is being managed. The guardian must account for every deposit, expense, investment, and change in asset value during the reporting period.
As a Guardianship Attorney in Orlando, I represent both guardians seeking to file these reports correctly and family members who are concerned about how funds are being handled.
What Must Be Included in a Florida Annual Accounting?
The structure of the report depends on the size of the ward’s estate, the type of guardianship, and the level of court supervision. In general, though, the report must include:
- A beginning inventory balance: This is typically carried over from the inventory filed at the beginning of the guardianship or the prior year’s accounting.
- All receipts and income: This includes Social Security payments, pensions, investment earnings, rents, and any other incoming funds.
- All disbursements and expenses: Every expense paid on behalf of the ward, including housing, utilities, medical care, attorney fees, and other costs.
- Ending balances: The guardian must show the current balances of all bank accounts, investment accounts, and assets.
- Supporting documents: Bank statements, invoices, and receipts may be required for verification.
- Affidavit of accuracy: The guardian must certify under oath that the report is true and complete.
All of this must be filed with the court within 90 days of the end of the accounting period, as required by § 744.367(1), Florida Statutes.
Levels of Accounting in Florida Guardianship Cases
Florida law outlines different accounting requirements based on the type of guardianship and the size of the ward’s estate.
- Simplified accounting may be available when the assets are limited and there is minimal activity.
- Full annual accounting is required when the ward’s assets or income exceed $25,000, or where significant financial transactions have occurred.
- Guardian advocates for adults with developmental disabilities may have slightly different rules, particularly if no property is involved.
In each case, the judge has discretion to require more detailed documentation if concerns arise.
Filing Procedure: Step-by-Step Overview
- Track every transaction throughout the year – As a guardian, it’s your responsibility to keep clean, consistent records. Use separate bank accounts for the ward’s funds and avoid mixing with personal money.
- Prepare the accounting on an approved form – Florida’s courts provide standard formats and rules for guardianship accountings. These must be followed carefully.
- Attach supporting documents – Include copies of account statements and explanations for any large or unusual transactions.
- File the accounting with the clerk of court – In Orange County, this is done through the probate division. You must also serve copies on all interested persons, including the ward’s attorney if one has been appointed.
- Pay the audit fee – Florida courts charge a fee for auditing annual accountings based on the value of the estate, per § 744.3678.
- Wait for review and possible objections – If no objections are filed and the court is satisfied, your accounting will be approved. If not, a hearing may be scheduled.
What Happens If You Miss the Deadline or Make a Mistake?
Florida guardianship courts are strict about compliance. If a guardian fails to file a required accounting or submits an incomplete or inaccurate report, the court can take action under § 744.3685. This may include:
- Requiring an amended accounting
- Ordering an audit or investigation
- Suspending or removing the guardian
- Referring the matter to law enforcement if fraud is suspected
On the flip side, if you’re an interested party and you believe a guardian has failed in their duties or misused funds, you have the right to petition the court to review the accounting or demand a more thorough audit.
I’ve represented clients on both sides of these disputes. Whether you’re trying to comply with your reporting obligations or seeking accountability for a loved one, I can help.
The Role of the Court and Professional Reviewers
In Orange County and throughout Florida, annual accountings are reviewed by court staff or outside auditors. If discrepancies are found, the court may hold a hearing or request additional documents. All guardians are bound by fiduciary duties under § 744.446, and they may be held personally liable for mismanagement or misconduct.
Can You Do This Without an Attorney?
While guardians are not required to have a lawyer to file an annual accounting, I’ve seen far too many guardians get into trouble simply because they misunderstood the rules or made avoidable errors. Missing documentation, incorrect math, and failure to track funds can quickly lead to court sanctions or loss of guardianship rights.
If you’ve been appointed guardian and feel overwhelmed by the legal process, I can help. Likewise, if you’re a concerned family member who suspects wrongdoing or has not received copies of accountings you are legally entitled to see, I can petition the court to enforce your rights.
To discuss your situation, call my office at 1-888-640-2999 to schedule a consultation. I work with clients across Orange County and offer guidance tailored to your needs.
Florida Guardianship Frequently Asked Questions
Do I have to file an annual accounting if the ward has no money?
If you are a guardian of the property and the ward has no assets or income, you may be eligible for a waiver or simplified filing. However, this must be approved by the court. You should still notify the court of the status of the ward’s estate, even if there is no financial activity.
What is the deadline for submitting the annual accounting?
You must file the report within 90 days of the anniversary date of your appointment as guardian. The court may impose penalties or issue orders to show cause if you miss this deadline.
Can a family member request to review the annual accounting?
Yes. Any interested person, including immediate family members, can request a copy of the filed accounting. If they have concerns about the accuracy or honesty of the report, they can also file formal objections with the court.
What if I make a math mistake in the accounting?
Even small mistakes can cause problems. If an error is found, the court may request a revised accounting. More serious discrepancies could lead to a court hearing or even an audit. It’s always better to correct an error proactively rather than wait for the court to catch it.
Can I pay myself as the guardian from the ward’s funds?
Yes, but only if your compensation is approved by the court. Florida law allows reasonable compensation for guardians, but you must petition the court for approval, document your services, and include it in the accounting.
What supporting documents do I need to file with the report?
You should include copies of bank statements, investment summaries, receipts for major purchases, and any other proof that shows where the ward’s money went. The court may ask for more if questions arise.
What happens if the court does not approve my accounting?
If the judge has concerns, they can reject the accounting and request a corrected version. In serious cases, the court may order an audit, hold a hearing, or suspend your authority as guardian. If you are removed, the court may appoint someone else to take over.
Do I need an attorney to file an objection to someone else’s accounting?
You are not required to have an attorney, but legal guidance is strongly recommended. Objecting to an accounting involves legal filings, deadlines, and sometimes court appearances. An attorney can help you present your concerns effectively.
Contact Orlando Guardianship Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation.
If you are a guardian and need help filing a proper annual accounting—or if you’re concerned that a guardian isn’t fulfilling their duties—don’t wait for a mistake to cause problems. Let’s talk about your options and make sure everything is handled properly and legally.
Contact Orlando Guardianship Attorney Beryl Thompson-McClary at 1-888-640-2999 For A Consultation.
