Final Estate Accounts - Probate / Inheritance

South_West

Does anyone know what happens when the final estate accounts are drawn up? Do the executors have to approve them / sign them off?
How long do these take to get done? (using a solicitor). And what then happens to these accounts?
Also, if one of the executors will have moved house by the time the accounts are done, should they provide their new address or does it not matter if their old address is showing?
(They will get mail forwarded to their new address so that’s not an issue).

Marcon

The executors are responsible for preparing the accounts, so by definition they must approve them, whoever does the actual accounts preparation.

The only parties entitled to see them are the residual beneficiaries. Apart from that, nothing happens to the accounts. Doesn't matter what address is shown, although why the accounts need to show an address at all baffles me. If you are saying the solicitor will post them, why not just supply the new address?

Timescale depends on how efficient the solicitors are and how complicated these accounts prove to be.

SeniorSam

Are you referring to the final tax return from the date of death to the winding up of the estate and Will. There is sometimes a difference in amounts initially submitted and time of distribution. The Trust may also have received income during that time or made a capital gain and tax be payable by the Trust. There was a similar question on this site recently.

South_West

Thanks for your replies.

Yes, I’m not sure the address needs to appear on them so hopefully it won’t be an issue anyway.

No - I’m not referring to the final tax return. I think that will be done beforehand and once that is done, they will then do the final accounts.

I’m guessing they could still take a month or two to get all this done.