What is an executor’s accounting?

An executor's accounting refers to a comprehensive statement that outlines the financial status of an estate during the administration process. It includes detailed records of all transactions conducted by the executor, such as income received, expenses incurred, distributions made to beneficiaries, and other financial activities related to the estate. This accounting ensures transparency and helps beneficiaries understand how the estate's assets have been managed and distributed.

This process is crucial as it provides a clear picture of the estate's financial health and can prevent misunderstandings or disputes among beneficiaries regarding how the estate is being handled. By submitting the accounting for review, the executor fulfills their fiduciary duty and helps maintain trust with the beneficiaries.

Public records of the will's existence, judgments from the probate court, and personal ledgers maintained by the executor do not encapsulate this reporting requirement or the detailed nature of financial activities that the executor must report. Instead, those options pertain to different aspects of estate administration and do not provide the same level of financial transparency as an executor's accounting.