Probate Accountings

Accountings in probate refer to the detailed reports that executors or administrators must prepare and submit to the court during the probate process. These accountings serve several important purposes:

1. Transparency and Accountability: Accountings provide transparency regarding the financial activities and transactions of the estate. They ensure that all interested parties, including beneficiaries and creditors, can review how assets have been managed and distributed.
2. Court Oversight: By submitting accountings to the court, the executor or administrator allows the court to oversee the administration of the estate. This oversight helps prevent mismanagement of estate assets and ensures compliance with probate laws and procedures.
3. Beneficiary Protection: Accountings protect the interests of beneficiaries by documenting all income received by the estate, expenses paid (including executor fees and attorney fees), and distributions made. This documentation helps prevent disputes and provides a clear record of how the estate’s assets have been handled.
4. Creditor Claims: Accountings also facilitate the process of resolving creditor claims against the estate. Creditors can review the accounting to ensure that all debts owed by the deceased have been properly addressed before final distributions are made to beneficiaries.
5. Legal Requirement: In many jurisdictions, including California, submitting periodic accountings to the court is a legal requirement during probate. Failure to comply with these requirements can lead to delays in the probate process or even legal consequences for the executor or administrator.
6. Final Distribution: Before the final distribution of assets to beneficiaries, the court typically requires a final accounting that summarizes all financial transactions and demonstrates that the estate has been fully administered according to the law.

In essence, accountings play a crucial role in ensuring transparency, accountability, and fairness in the probate process. They help to protect the rights of beneficiaries, creditors, and other interested parties while ensuring that the estate is settled in accordance with the deceased person’s wishes or applicable laws.

Estates up to $1M:  $1,500

$1M to $3M: $2,500

$3M to $6M: $3,500

Prices only apply for estates without litigation. For litigation accountings please send a message to cs@clerikus.com.

We also offer the option for hourly rates. For hourly rate prices please contact us at cs@clerikus.com.