Estate accounts

dresdendave

If the beneficiaries are reasonable people perhaps you could suggest holding back a nominal amount (say £100) for any unforeseen expenses such as stationary, postage etc. This would be on the understanding that after a certain time any unspent money would be given a charity, perhaps one that the deceased was fond of. This may not be a "legal" approach but more of a common sense one, so that although you would not be out of pocket, you also wouldn't benefit financially.

Tuesday_Tenor

WYSPECIAL wrote: »

Hi,
Is a simple spreadsheet showing income and outgoings sufficient?

Sort of. Depends how complicated the estate was. Was a property sold? Was IHT paid?

I would add a bit more structure, which will lessen the likelihood of requests for further info.

List of Value of assets
List of Value of debts.
Costs of administering estate (funeral, probate fee, postage etc.)
If relevant:income received to estate during admin (e.g. Rent received).
If relevant: costs of maintaining estate during admin ( house insurance etc)
Total value of estate.
If relevant: IHT paid.
Final value of estate to be distributed.
Details of distribution.

A summary sheet of the above, accompanied by the itemised spreadsheet of income and expenditure should be fine.

Yorkshireman99

Plus a copy of the will.