UUÂãÁÄÖ±²¥

Introduction

Estate accounts give a linear account of the process of the administration. The account begins with a list of everything the deceased owned at the date of death, and goes on to show how the assets have been realised, expenses paid, and the value distributed to beneficiaries.

There are no prescribed rules as to the form the accounts should take but the overriding requirement is that they should be clear, accurate and easy for the personal representatives and beneficiaries to follow. For a straightforward administration where the residuary beneficiaries are absolutely entitled and the personal representatives are concerned to keep down the legal costs having regard to the size of the estate, a simple cash account with receipts on one side and payments on the other will normally suffice.

For a larger estate, a more detailed set of accounts will be appropriate. The following sections describe the customary elements of a set of estate accounts. It is recommended that