Accounting Process, Forms and Samples

Links are provided below to simple example only of a decedent estate accounting.

1.  Instructions and simple decedent's estate accounting. 

2.  Decedent's Estate Accounting cover sheet. 

 The cover sheet is a cover sheet that serves as a balance sheet for an attached accounting. If the account balances the total of the numbers in the top half must balance with the total number in the bottom half of the document. More information on the sections of the cover sheet is reviewed below. 

Although the sample accounting is simple, review of this sample along with the instructions should provide you with a better understanding of the information and form of fiduciary accountings. Any accounting can be prepared as a spread sheet, in a word processing program or other form that provides the information and calculations necessary for the accounting.  

The parts to the accounts, listed below are included in the cover sheet:

1.    Beginning Assets (from the Inventory or ending assets of a prior account).

2.    Receipts (income or other receipts).

3.    Gains on asset sales.

4.    Adjustments, (for example to correct estimated inventory amounts.

5.    Total of 1, 2, 3 and 4 (must equal total in line 10).

6.    Distributions for debts and expenses.

7.    Losses on assets sales.

8.    Distributions to beneficiaries.

9.    Assets on hand (remaining estate assets that have not been disbursed or distributed at the end of the accounting period).

10.  Total 6, 7, 8, and 9 (must equal total in line 5).

The executory or administrator’s final accounts will show zero assets on hand as the administration of the estate is finalized from an accounting standpoint.

The account must be signed by all the executor(s) or administrator(s) of the estate.

Statement in Lieu of Accounts. 

Under Virginia law, if the executor(s) or administrator(s) of a decedent's estate are also the sole beneficiaries of residue of the estate, then the executor(s) or administrator(s) are eligible to file a statement in lieu of accounts, as simplified form of accounting, which only requires the executor(s) or administrator(s), after a period of six months, to certify that all debts, taxes and obligations of the estate have been paid and the reminder of the estate assets have been distributed to the executor(s) and administrator(s) as the sole beneficiaries of the remainder of the estate.  Here is a link to a copy of the Statement in Lieu Form and the Instructions.