Executor's Duty to Account

An executor has a duty to account for their administration of an estate. This means that the executor is responsible for keeping accurate records of all financial transactions related to the estate, including income, expenses, and distributions to beneficiaries.

The executor is required to provide a final accounting of the estate to the beneficiaries, and must do so in a timely manner. This accounting should include a detailed report of all financial transactions, as well as any fees charged by the executor or any other professionals involved in the administration of the estate.

If the beneficiaries have concerns about the executor's accounting or suspect that the executor has mismanaged the estate, they may seek legal assistance to help them investigate and potentially challenge the executor's actions.

It is important for executors to keep careful and accurate records throughout the estate administration process to ensure that they can provide a clear and transparent accounting to the beneficiaries, and to avoid any potential legal disputes or challenges.

This obligation is an area that many Executors fall short in, so an Executor’s claim for compensation should always keep in mind that the best Estate administration is one that every heirs feels has been just and appropriate, so that the Estate can be settled on the consent of all involved without undue costs in litigation.