Step 9 - The Estate Accounts

What are Estate Accounts?

Estate accounts is a detailed report of the financial information about the estate that you have collected throughout the administration.


You will need to account for every penny and so it is important that the information is correct. Estate accounts give a complete picture of how an estate is made up and how it has been dealt with. As such it provides an invaluable source of reference and will help deal with any queries that can arise after the administration has been completed.

 

 

Summary of the estate

For more information please contact us.

Detailing of the Assets and Debts

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Listing the Administration Expenses and specific gifts

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Identifying income and capital payments

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Calculating the final distribution

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Do I really need Estate Accounts?

In short, yes…

Personal representatives have statutory duties set out in section 25 of the Administration of Estates Act 1925 to:

  1. collect and get in the real and personal estate of the deceased and administer it according to law;

  2. when required to do so by the court exhibit on oath in the Court a full inventory of the estate and when so required render an account of the administration of the estate to the Court; …’

 

You have sworn to deliver accounts to the Court, if and when these may be required.

 

 

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