The Final Account
Often the most difficult of the personal representative’s duties is the preparation of the final account. As the name suggests, the final account is computed at the end of the probate. It lists all the assets of the estate, income and gains generated from the assets, and expenses incurred in the administration of the estate. Through this document, devisees and heirs of the estate can be sure that they are receiving their fair share of the estate’s assets. Good record keeping is critical to making the preparation of the final account less burdensome.
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