Texas Estates Code 1163.001 – Initial Annual Account of Estate
(a) Not later than the 60th day after the first anniversary of the date the guardian of the estate of a ward qualifies, unless the court extends that period, the guardian shall file with the court an account consisting of a written exhibit made under oath that:
(1) lists all claims against the estate presented to the guardian during the period covered by the account; and
(2) specifies:
(A) which claims have been:
(i) allowed by the guardian;
(ii) paid by the guardian; or
(iii) rejected by the guardian and the date the claims were rejected; and
(B) which claims have been the subject of a lawsuit and the status of that lawsuit.
(b) The account must:
(1) show all property that has come to the guardian’s knowledge or into the guardian’s possession that was not previously listed or inventoried as the ward’s property;
(2) show any change in the ward’s property that was not previously reported;
(3) provide a complete account of receipts and disbursements for the period covered by the account, including the source and nature of the receipts and disbursements, with separate listings for principal and income receipts;
(4) provide a complete, accurate, and detailed description of:
(A) the property being administered;
(B) the condition of the property and the use being made of the property; and
(C) if rented, the terms on which and the price for which the property was rented;
(5) show the cash balance on hand and the name and location of the depository where the balance is kept;
(6) show any other cash held in a savings account or other manner that was deposited subject to court order and the name and location of the depository for that cash; and
(7) provide a detailed description of the personal property of the estate that shows how and where the property is held for safekeeping.
Terms Used In Texas Estates Code 1163.001
- Claims: includes :
(1) liabilities of a decedent that survive the decedent's death, including taxes, regardless of whether the liabilities arise in contract or tort or otherwise;
(2) funeral expenses;
(3) the expense of a tombstone;
(4) expenses of administration;
(5) estate and inheritance taxes; and
(6) debts due such estates. See Texas Estates Code 22.005 - Court: means and includes:
(1) a county court in the exercise of its probate jurisdiction;
(2) a court created by statute and authorized to exercise original probate jurisdiction; and
(3) a district court exercising original probate jurisdiction in a contested matter. See Texas Estates Code 22.007 - Estate: means a decedent's property, as that property:
(1) exists originally and as the property changes in form by sale, reinvestment, or otherwise;
(2) is augmented by any accretions and other additions to the property, including any property to be distributed to the decedent's representative by the trustee of a trust that terminates on the decedent's death, and substitutions for the property; and
(3) is diminished by any decreases in or distributions from the property. See Texas Estates Code 22.012 - Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
- Property: means real and personal property. See Texas Government Code 311.005
- Ward: means a person for whom a guardian has been appointed. See Texas Estates Code 22.033
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) For bonds, notes, and other securities, the description required by Subsection (b)(7) must include:
(1) the names of the obligor and obligee or, if payable to bearer, a statement that the bond, note, or other security is payable to bearer;
(2) the date of issue and maturity;
(3) the interest rate;
(4) the serial number or other identifying numbers;
(5) the manner in which the property is secured; and
(6) other information necessary to fully identify the bond, note, or other security.