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Difference between revisions of "Ten Steps to Being an Executor"
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Ten Steps to Being an Executor (view source)
Revision as of 23:46, 9 April 2017
, 23:46, 9 April 2017→Step 9. Account to the beneficiaries
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Before you distribute the estate among the beneficiaries, you must give them an accounting of your administration of the estate and they must agree with it. | Before you distribute the estate among the beneficiaries, you must give them an accounting of your administration of the estate and they must agree with it. | ||
Prepare a final statement of assets, debts, income, expenses and distribution. This statement is for the beneficiaries to approve. If they refuse to approve it, you will need to have the accounts reviewed by the court so that your administration is approved. This process is called the “passing of | Prepare a final statement of assets, debts, income, expenses and distribution. This statement is for the beneficiaries to approve. If they refuse to approve it, you will need to have the accounts reviewed by the court so that your administration is approved. This process is called the “passing of accounts”. | ||
In the accounting, set out any executor’s fee you are charging. If the beneficiaries do not agree with the proposed executor fee, you will need to have your accounts reviewed by a Registrar of the Court, who will set the fee. | In the accounting, set out any executor’s fee you are charging. If the beneficiaries do not agree with the proposed executor fee, you will need to have your accounts reviewed by a Registrar of the Court, who will set the fee. | ||