EXECUTOR'S ACCOUNTING

2. While an executor may keep his accounts in a manner chosen by himself, his accounting must conform to the legal requirements of the state in which the accounting is made. The form in which the accounting is to be made is not subject to rigid rules, but must conform to certain regulations. While requirements differ according to the jurisdiction, the regulations in general are as follows:

The preliminary accounting consists in filing an inventory of the personal estate of the deceased, showing both the nominal or face value of the assets and the amount they are expected to realize as stated by the appraisers. An executor usually files two accounts—an intermediate account, filed at some date prior to the final account, and a final account, showing the property in his hands subject to distribution by judicial decree. The intermediate account may be filed either voluntarily or by order of the court. The account must be accompanied by the following schedules:

SCHEDULE A

1. Statement of property contained in the inventory, which has been sold, with the manner of sale and amounts realized. 2. Statements of debts due the estate as scheduled in the inventory, which have been collected. 3. Statement of all interest and dividends received by the executor.

SCHEDULE B

1. Statement of debts due the estate that have not been collected or are uncollectible, with reasons. 2. Statement of personal property named in inventory that has not been sold, with reasons, and the appraised value of such property. 3. Statement of all property belonging to the estate that is lost through no fault of the executor, with the cause of loss and appraised valuation. 4. Statement that no other property than set forth in the inventory or schedules has come into the possession or the knowledge of the executor. 5. Statement that the increase or decrease in value of all assets of the deceased is allowed for or charged in Schedules A and B.

SCHEDULE C

1. Statement of all amounts expended by the executor for funeral and other necessary expenses, together with the receipts for, and objects of, such expenditures.

2. Statement of the date when the executor caused a notice for claimant to present claims against the estate to be published, together with order, notice, and proof of publication herewith filed, to which the executor refers as a part of his account.

SCHEDULE D

1. Statement of all claims of creditors allowed by executor or disputed by him, for which a judgment or decree has been rendered, with the names of the claimants, nature of claim, amount and date of judgment.

2. Statement of all money paid to creditors of the deceased, with names and time of payment.

SCHEDULE E

1. Statement of all money paid to legatees, widow, or next of kin, of the deceased.

SCHEDULE F

1. Statement of names of all persons entitled—as widow, legatee, and next of kin, of the deceased—to a share of his estate, with place of residence, degree of relationship, and statement as to which are minors, whether they have a general guardian, and if so, the name and place of residence to the best of the executor's knowledge, information, and belief.

SCHEDULE G

1. Statement of all other facts affecting the administration of said estate, executor's rights, and those of others interested.

These schedules provide all the material from which to make the account proper. In his account, the executor charges himself as follows:

With amount of inventory$_________
With amount of increase as per schedule A_________
With amount of income as per schedule A_________
_________
Total debits_________

He credits himself:

With amount of losses on sales as per schedule B$_________
With debts not collected as per schedule B_________
With articles mentioned in inventory lost, schedule B_________
With funeral expenses and other expenses, schedule C_________
With money paid creditors, schedule D_________
With money paid to legatees, widow, or next of kin, schedule E_________
Total credits$_________
Balance_________
Add articles unsold_________
Add debts not collected_________
_________
Total to be distributed_________