Accounting of the Estate

An Accounting of the Estate is a detailed financial report prepared by the executor or administrator of a deceased person’s estate. This document:

1. Lists all assets and their values at the time of death

2. Details income received by the estate (e.g., interest, dividends)

3. Itemizes all expenses and debts paid from the estate

4. Shows distributions made to beneficiaries

5. Provides a final balance of the estate’s assets

This accounting is typically required by probate courts and beneficiaries to ensure transparent and proper management of the estate. It helps prevent disputes, protects the executor from liability, and provides a clear picture of the estate’s financial status throughout the probate process. The complexity of this document can vary based on the size and nature of the estate, and professional assistance may be necessary for larger or more complicated estates.