How do I prepare an accounting?
In an estate, every six months until the estate closes, you have to file administration accounts with the court. Those accounts would list and report all of the income and additions to the estate as well as all of the expenses to the estate. The final administration account would not only show the final additions income and expenses, but would also show the distribution of the assets or funds in the estate to the beneficiaries or heirs pursuant to the will. That account would need to be approved by the court before making final distribution and closing the estate.