After the initial stages are completed, an accounting should be prepared reflecting all financial transactions. This way, the fiduciary can disclose what she has done, show what assets she has received and paid out, and absolve her from further liability. An accounting is commonly prepared at the end of the administration of the estate and just before distributions are made to the beneficiaries. Generally, an accounting entails a statement showing the assets of the estate, income from assets, liquidation of assets, payments of debts and expenses, interim distributions and all remaining property.
We can help you, as executor or administrator of an estate, prepare all necessary accountings, whether it is informal or compelled by the court.