Massachusetts General Laws
Article V - Protection of Persons Under Disability and Their Property
Section 5-418 - Accounts

Section 5–418. [Accounts.]
(a) Each conservator shall account to the court for administration of the trust not less than annually unless the court directs otherwise, upon resignation or removal and at other times as the court may direct. On termination of the protected person's minority or disability, a conservator shall account to the court. Subject to appeal or vacation within the time permitted, an order allowing an intermediate account of a conservator adjudicates as to liabilities of the conservator concerning the matters set forth therein or shown thereby; and an order allowing a final account adjudicates as to all previously unsettled liabilities of the conservator to the protected person or the protected person's successors relating to the conservatorship.
(b) A conservator or any interested person may petition for an order of complete settlement of an account. Notice shall be given in the manner prescribed by section 1–401 by the petitioner to all interested persons.
(c) An account shall state or contain:
(1) a listing of the balance of the prior account or inventory, receipts, disbursements and distributions during the reporting period and the assets of the estate under the conservator's control at the end of the reporting period;
(2) a listing of the services provided to the protected person; and
(3) any recommended changes in any conservatorship plan as well as a recommendation as to the continued need for conservatorship and any recommended changes in the scope of the conservatorship.
(d) If there are persons interested to whom notice has not been given, or if the interests of persons incapacitated or under disability are not represented except by the accountant, the court shall appoint as guardian ad litem an individual or any public or charitable agency to review the account and make appropriate recommendations to the court.
(e) Objections to a conservator's account shall be filed in the manner prescribed by section 1–401. After the time required for any notice has expired, upon proof of notice, and after any hearing that may be necessary, the court may enter an order or orders, on appropriate conditions, determining the persons entitled to distribution of the estate, and, as circumstances require, approving settlement and directing or approving distribution of the estate and discharging the conservator from further claim or demand of any interested person. Such discharge shall forever exonerate the conservator and the conservator's sureties from all liability under such decree unless the conservator's account is impeached for fraud or manifest error.
(f) The court shall establish a system for monitoring of conservatorships, including the filing and review of conservators' accounts and plans.

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