Form Pc 674 PDF Details

When someone is appointed as a conservator, they are tasked with the responsibility of managing another person’s financial affairs due to incapacity or disability. In Michigan, one critical step in this role involves completing the PC 674 form, an Inventory for Conservatorship. This form serves as a comprehensive list detailing all assets within the estate of the person being looked after. From real estate to personal belongings, every item and its fair market value as of the conservator's appointment date must be recorded. It's crucial for the conservator to also note any assets that are co-owned, specifying the nature of this shared ownership, and whether any items listed have been used as collateral for a loan. Beyond its role in documentation, the PC 674 form is essential for maintaining transparency among all interested parties, necessitating its sharing followed by a formal Proof of Service submission. This ensures everyone entitled gets a clear picture of the protected individual’s financial standing, fostering a sense of accountability and trust in the conservatorship process. Instructions provided alongside the form guide conservators on correctly cataloging both real and personal property, mention of potential appraisal requirements, and emphasize the importance of detailing debts against the estate, making it an indispensable tool in the caretaking toolkit.

QuestionAnswer
Form NameForm Pc 674
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesmichigan form inventory, pc 674, pc scao, pc674

Form Preview Example

Attorney signature
Attorney name (type or print)
Address

Approved, SCAO

JIS CODE: INV

STATEOFMICHIGAN PROBATECOURT COUNTYOF

INVENTORY(CONSERVATORSHIP)

AMENDED

FILE NO.

USE NOTE: The conservator must serve this completed inventory on all interested persons as required by Michigan Court Rules 5.105 and 5.125. Then the conservator must complete a proof of service (form PC 564) and file it and this inventory with the court.

In the matter of

I,

 

, am the conservator and submit the following as a complete and

Name (type or print)

accurate inventory of all the assets of the estate, including the fair market valuations as of the date of qualification as conservator. I have listed on this inventory any property the protected individual owns jointly or in common with others, including the type of ownership.

 

PERSONALPROPERTYANDREALPROPERTYDESCRIPTION Ifthepropertyisownedbyboththe

LIEN

TOTALVALUEOF

 

protected individual and others, specify the type of ownership in the description and check the box

PROPERTY

 

AMOUNT

 

in the column "Total Value of Property." If the property has been used to secure a loan, show the nature

(withoutreduction

 

 

 

and amount of the lien. Definitions and instructions for completing the inventory are on the other side.

 

for lien)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTALASSETS

I declare under the penalties of perjury that this inventory has been examined by me and that its contents are true to the best of my information,knowledge,andbelief.

Bar no.

Date

Signature

Name (type or print)

Address

City, state, zipTelephone no. City, state, zipTelephone no. USE NOTE: If this form is being filed in the circuit court family division, please enter the court name and county in the upper left-hand corner of the form.

Do not write below this line - For court use only

PC 674 (9/12) INVENTORY (CONSERVATORSHIP)

MCL 700.5417, MCR 5.409(B)

DEFINITIONS:

•Real property means land, including a building or house that is built on the land.

•Personal property means everything that a person owns except real property. Personal property includes bank accounts and checking accounts.

INSTRUCTIONSTOCOMPLETETHEINVENTORY:

1.List all real and personal property in the column "Personal Property and Real Property Description."

2.When listing real property, provide the legal description of the property and the name of any other owner.

a.If real property has been used to secure a loan (including an equity line of credit), show the nature and amount of the lien.

b.If the value of real property is determined by an appraisal, include the appraiser's name and address and a description of the property appraised.

c.Property that the protected individual owns jointly or in common with others must be listed along with the type of ownership. The court may require additional information to support the value of property that is stated in the inventory.

3.Whenlistingpersonalproperty,provideenoughdetailtoadequatelydeterminethevalue. Someitemsshouldbelistedseparately and some items should be combined under one category. Provide the name and address of each financial institution listed. The address of a financial institution shall be either that of the institution's main headquarters or the branch used most frequently by theconservator.

a.Examples of items that should be listed and valued separately are:

•

Automobiles

•

Prepaid burial contracts

•

Jewelry

• Life insurance (cash value)

•

Bank accounts

•

Annuities

•

Antiques

•

Mutual funds

•

Furniture

•

Stocks and bonds

•Any other individual item of high value (such as a fur coat)

b.Examples of items that can be listed in categories are:

•Household items such as dishes, flatware, curtains, linens, utensils, clothing, furnishings, etc. can be grouped into several categories or combined into one category.

•Multiple copies or pieces of a specific item that have the same value such as stocks and bonds.

c.If personal property has been used to secure a loan, show the nature and amount of the lien.

d.If the value of personal property is determined by an appraisal, include the appraiser's name and address and a description of the property appraised.

e.Property that the protected individual owns jointly or in common with others must be listed along with the type of ownership. The court may require additional information to support the value of property that is stated in the inventory.

How to Edit Form Pc 674 Online for Free

You are able to fill out pc 564 instantly by using our online tool for PDF editing. To maintain our tool on the leading edge of convenience, we aim to integrate user-oriented features and enhancements on a regular basis. We are routinely happy to receive feedback - play a pivotal part in reshaping PDF editing. To get the process started, take these basic steps:

Step 1: Press the "Get Form" button above. It is going to open up our pdf editor so you could start filling out your form.

Step 2: With our handy PDF tool, you may accomplish more than just complete blank form fields. Express yourself and make your docs look sublime with custom text incorporated, or adjust the file's original input to perfection - all backed up by the capability to add just about any images and sign the file off.

This document requires particular details to be typed in, so be certain to take the time to enter what's requested:

1. The pc 564 requires certain information to be inserted. Ensure the following blank fields are completed:

Writing section 1 of file scao form

2. Your next stage is to fill in these blank fields: I declare under the penalties of, TOTAL ASSETS, Attorney signature, Date, Signature, Attorney name type or print, Bar no, and Name type or print.

Filling out part 2 in file scao form

It is possible to make an error when filling out your Date, thus be sure you take a second look prior to when you finalize the form.

3. Your next step is usually straightforward - fill in all of the form fields in Address, City state zip, Address, Telephone no, City state zip, Telephone no, USE NOTE If this form is being, Do not write below this line For, PC INVENTORY CONSERVATORSHIP, and MCL MCR B to conclude this process.

MCL MCR B, Telephone no, and Address of file scao form

Step 3: Before finalizing your form, make sure that all blank fields have been filled in as intended. When you confirm that it is good, click “Done." Join us today and instantly use pc 564, ready for download. All changes you make are saved , enabling you to customize the form later as required. We do not share any information you type in when working with forms at our website.

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