Guardianship Inventory Andinformation Report

There are all sorts of forms executors, beneficiaries, and probate court clerks have to fill out and correspond with during probate and estate settlement, including affidavits, letters, petitions, summons, orders, and notices.

Guardianship Inventory Andinformation Report is a commonly used form within Maryland. Here’s an overview of what the form is and means, including a breakdown of the situations when (or why) you may need to use it:

Atticus Fast Facts About Guardianship Inventory Andinformation Report

Sometimes it’s tough to find a quick summary— here’s the important details you should know about Guardianship Inventory Andinformation Report:

• This form pertains to the State of Maryland

Government forms are not typically updated often, though when they are, it often happens rather quietly. While Atticus works hard to keep this information about Maryland’s Form 1318 - Guardianship Inventory Andinformation Report up to date, certain details can change from time-to-time with little or no communication.

Step 1 - Download the correct Maryland form based on the name and ID if applicable

Double check that you have both the correct form name and the correct form ID. Some Maryland probate forms can look remarkably similar, so it’s best to double, even triple-check that you’re using the right one! Keep in mind that not all States have a standardized Form ID system for their probate forms.

Step 2 - Complete the Document

Fill out all relevant fields in Form 1318, take a break, and then review. Probate and estate settlement processes in MD are long enough to begin with, and making a silly error can push your timeline even farther back. No thank you!

Note: If you don’t currently know all of the answers and are accessing Form 1318 online, be sure to avoid closing the browser tab and potentially losing all your progress (or use a platform like Atticus to help avoid making mistakes).

Step 3 - Have Form 1318 witnessed or notarized (if required)

Some States and situations require particular forms to be notarized. If you have been instructed to get the document notarized or see it in writing on the document, then make sure to hire a local notary. There are max notary fees in the United States that are defined and set by local law. Take a look at our full guide to notary fees to make sure you aren’t overpaying or getting ripped off.

Step 4 - Submit Guardianship Inventory Andinformation Report to the relevant office

This is most often the local probate court where the decedent (person who passed away) is domiciled (permanently resides) or the institution involved with this particular form (e.g. a bank). Some offices allow you to submit forms online, other’s don’t, and we while we generally recommend going in-person to expedite the process, sometimes that simply isn’t an option.

It’s also a generally good idea to establish a positive working relationship with any probate clerk (unfortunately there’s enough people & process out there making things more difficult and unnecessarily confusing for them), so a best practice is to simply ask the probate clerk proactively exactly how and where they’d prefer you to submit all forms.

Need help getting in touch with a local probate court or identifying a domicile probate jurisdiction?

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Different probate forms or processes can require different deadlines or response times for completing the appropriate form.

While some steps in the process are bound to specific deadlines (like petitioning for probate, having to submit an inventory of assets, or filing applicable notices to creditors and beneficiaries), many probate forms or processes are not tied to a specific deadline since the scope of work can vary based on situational factors or requirements involved.

Either way, there are a bunch of practical reasons why personal representatives should work to complete each step as thoroughly and quickly as possible when completing probate in Maryland.

5 reasons you should submit 1318 as quickly as possible:

1. The sooner you begin, the faster Maryland can allow heirs and beneficiaries to get their share of assets subject to probate. Acting promptly can also decrease the costs & overall mental fatigue through an otherwise burdensome process.
   
   Helpful Context: What’s the Difference Between Probate and Non-Probate Assets?

2. In general, creditors of an estate usually have around 3-6 months from the time you file notice to creditors to file any claims for debt against the deceased’s assets. If they don’t, then that debt is forfeited (and more importantly, the executor won’t be held personally responsible). So doing this sooner means you have a better idea of who is owed what and ensures you won’t get a surprise collector months later.

3. Not filing a will within 30 days (on average) could mean that the probate process proceeds according to intestate laws (laws that govern what happens to someone's stuff without a will) or is subject to unnecessary supervision by the probate court. And if you aren't directly related to the deceased (a.k.a. next of kin), this could also mean you lose your inheritance.

4. It’s important to file any necessary state tax returns on behalf of the deceased or estate by the following tax season in Maryland. If you don’t, you could owe penalties and interest. This also includes any necessary federal tax returns such as Forms 1040, 1041, or even a Form 706 estate tax return.

5. If a house in the State of Maryland is left empty (or abandoned) for a while, insurance can get dicey. For example, if the house burns down and no one has been there for a year, an insurance company may get out of paying your claim.

If you’re not using Atticus to get specific forms, deadlines, and timelines for Maryland probate, then try and stay as organized as possible, pay close attention to the dates mentioned in any correspondence you have with the State’s government officials, call the local Maryland probate clerk or court for exact answers regarding Form 1318, and when in doubt— consult a qualified trust & estates lawyer for that area.

Guardianship Inventory Andinformation Report is one of the many probate court forms available for download through Atticus.

It may also be available through some Maryland probate court sites, such as . In order to access the latest version, be updated with any revisions, and get full instructions on how to complete each form, check out the Atticus Probate & Estate Settlement software or consider hiring a qualified legal expert locally within Maryland.

While Atticus automatically provides the latest forms, be sure to choose the correct version of Form 1318 - Guardianship Inventory Andinformation Report f using any other site or resource in order to avoid having to re-complete the form process and/or make another trip to the Maryland probate court office.

Guardianship Inventory Andinformation Report is a .pdf, so opening it should be as simple as clicking “View Form” from within the Atticus app or by clicking the appropriate link found on any Maryland-provided government platform. Once you’ve opened the form, you should be able to directly edit the form before saving or printing.

Here’s the text, verbatim, that is found on Maryland Form 1318 - Guardianship Inventory Andinformation Report. You can use this to get an idea of the context of the form and what type of information is needed.

In the Matter o f INVENTORY AND INFORMATION REPORT (Md. Rule 10-707) NOTE: Guardians of t he property must complete and file this form each year within 60 days of appointment or as the court otherwise directs. Attach copies of statements that show fair market values and balances as of the date of your appointment and documents that describe assets, if available. If a section of thi s form does not apply, write “Not applicable” or “N/A.” Attach additional sheets if needed. Minor or Disabled Person’s Date of Birth: Gender: ☐Female☐Male Part I. Fiduciary estate List property solely or jointly owned by the minor or disabled person. A. REAL ESTATE Attach documentation that shows fair market values as of the date of your appointment (from a state department of assessments and taxation, real estate website or listing, etc.) or the most recent. Location: F air market value: $ Lender (if a ny): Mortgage balance: $ Ownership type (select one): ☐Sole owner ☐ Joint tenant ☐ Tenant in common with% interest ☐Tenants by the entirety ☐Other (describe): Joint tenant/in common/by Relationship to minor or the entirety/other name disabled person Address Location: Fair market value: $ Mort gage balance: $ Lender (if any): CC-GN-011 (Rev. 07/2021) Page 1 of 8 ☐CIRCUIT ☐ ORPHANS’ COURT FOR City/County , MARYLAND Located at Court Address Case No. Name of Minor or Disabled Person Address City, state, zip Address City, state, zip Docket Reference INRFI Ownership type (select one): ☐Sole owner ☐ Joint tenant ☐ Tenant in common with% interest ☐Tenants by the entirety ☐Other (describe): Joint tenant/in common/by Relationship to minor or the entirety/other name disabled person Address Location: Fair market value: $ Lender (if any): Mortgage balance: $ Ownership type (select one): ☐Sole owner ☐ Joint tenant ☐ Tenant in common with% interest ☐Tenants by the entirety ☐Other (describe): Joint tenant/in common/by Relationship to minor or the entirety/other name disabled person Address B. CASH & CASH EQUI VALENTS Checking, savings, or certificates of deposit (CDs). Attach s tatements that show balances as of the date of your appointment or the most recent. Financial institution Type Account number (last 4 digits only) Balance Joint owner(s) (if any) $ $ $ $ $ $ $ TOTAL: $ CC-GN-011 (Rev. 07/2021)Page 2 of 8 Address City, state, zip INRFI C. BROKERAGE ACCOUNTS, STOCKS, BONDS, AND OTHER SECURITIES Attach statements that show values as of the date of your appointment or the most recent. Name of company Type Account number (last 4 digits only) Value Joint owner(s) (if any) $ $ $ $ $ TOTAL: $ D. RE TIREMENT ACCOUNTS IRAs, Roth IRAs, 401(k), 403(b), etc. Attach statements that show values as of the date of your appointment or the most recent. Name of company Type Account number (last 4 digits only) Value Beneficiary name(s) $ $ $ $ $ TOTAL: $ E. V EHICLES Cars, boats, off-road vehicles, airplanes, etc. Attach valuations for each vehicle as of the date of your appointment as guardian or the most recent. Type of vehicle Year, make, model Fair Market Value Lien (if any) Co-owner(s) (if any) $ $ $ $ $ $ $ $ TOTAL: $ F. PERSONAL PROPERTY List each item with a value over $2,500 (fine jewelry, artwork, valuable collectables, etc.). Describe property if the collective value is less than $2,500. For example, if the total value of the person’s property is $900, do not describe each item or list the value of each piece. Describe it as one category, “furniture.” CC-GN-011 (Rev. 07/2021)Page 3 of 8 INRFI If available, attach appraisals or any documents that show values or balances owed. Description Location Value Lien amount (if any) $ $ $ $ $ $ $ $ TOTAL: $ G. OTHER Li st annuities, burial accounts, burial plots, pre-paid burial plans, college 529 plans, cash values of life insurance policies. Also list judgments, loans, promissory notes, etc., owed to the minor or disabled person. Attach copies of policies or contracts. Name of institution Type of account Account number (last 4 digits only) Value $ $ $ $ $ $ $ TOTAL: $ SUMMARY OF THE FIDUCIARY ESTATE: The following is a summary of the fiduciary estate (enter totals from above) Type Value A.Real estate$ B.Cash & cash equivalents$ C.Brokerage accounts, stocks, bonds, and other securities $ D.Retirement accounts$ E.Vehicles$ F.Personal property$ G.Other$ TOTALS: $ CC-GN-011 (Rev. 07/2021)Page 4 of 8 $ $ $ $ $ $ $ $ INRFI Part II. Liabilities List debts owed, other than mortgage or liens listed above. A. LOANS Attach account statements, or other documents that show amounts owed as of the date of your appointment or the most recent. Lender name Purpose (loan type) Loan number Balance due $ $ $ $ $ $ TOTAL: $ B. CREDIT CARDS Attach statements that show balances as of the date of your appointment or the most recent. Company Card Account number (last 4 digits only) Balance due $ $ $ $ $ $ TOTAL: $ C. JUDGMENTS/LIENS Attach copies of court orders or other documents that show balances owed. Description Balance due $ $ $ $ $ $ TOTAL: $ CC-GN-011 (Rev. 07/2021) Page 5 of 8 INRFI D. OTHER List other liabilities such as alimony, child support, garnishments, etc. Attach copies of documents that show balances owed (if any). Also attach copies of court orders entered or changed during the reporting period. Description To whom owed Balance due $ $ $ $ $ TOTAL: $ Part III. Monthly income List all income, including benefits the person receives, including life insurance payments, debt payments received (e.g., judgments, loans, promissory notes). Divide yearly income by 12 and quarterly amounts by 3. Attach Social Security statements, Department of Veterans Affairs benefit statements, pay stubs, account statements, court orders, and other documents that show income. Source Amount per month Social Security income: $ Supplemental Security Income (SSI): $ Social Security Disability Insurance (SSDI): $ Veterans Affairs benefits: $ Public cash assistance (e.g., Temporary Cash Assistance (TCA) or Temporary Assistance for Needy Families (TANF)): $ Wages: $ Rental income: $ Pensions/retirement: $ Alimony: $ Annuity payments: $ Other (describe): $ $ $ $ $ TOTAL: $ CC-GN-011 (Rev. 07/2021)Page 6 of 8 INRFI Part IV. Information report Does the minor or disabled person hold an interest less than absolute in other property that has not been included in this form (interest in a trust, a term of years, a life estate ownership, int erest in a partnership, LLC, corporation, etc.)? ☐ Yes ☐ No If yes, describe each type of interest below. Attach copies of instruments that show the minor or disabled person’s interest. Description of interest Amount or value Date and type of instrument establishing the interest $ $ $ $ $ Part V. Other A. HEALTH INSURANCE AND EXPENSES Attach proof of insurance or notices of eligibility. Coverage type Provider Medical Dental Vision Prescription Other: Does the mi nor or disabled person have or do you anticipate medical expenses the court should know about? ☐ Yes ☐ No If yes, explain: B.OTHER MATTERS Descr ibe pending litigation, potential claims, potential inheritances, other public benefits (e.g., food stamps), or other matters of which the court should be aware. BOND The fiduc iary bond, if any, has been filed in this action in the amount of $ on Attach a copy of the bond. CC-GN-011 (Rev. 07/2021)Page 7 of 8 Date INRFI VERIFICATION I solemnly affirm under the penalties of perjury that the contents of this document are true to the best of my knowledge, information, and belief. ☐This is a new address since the last report (or since appointment if this is your first report). ☐This i s a new address since the last report (or since appointment if this is your first report). CC-GN-011 (Rev. 07/2021) Page 8 of 8 Date Date Signature of Guardian 1 Printed Name Address City, state, zip Telephone Signature of Guardian 2 (if applicable) Printed Name Address City, state, zip Telephone Name of Fiduciary’s Attorney Address City, state, zip Fax E-mail Attorney Number INRFI