Maurice Buckley, C.T. Poole & Son

Solicitors

estate_accounting

Keeping estate transactions in check

Estate Accounting

We specialise in preparing detailed and accurate estate records, ready for submission. If you’re acting as an executor, this can make all the difference during a complex process.

It’s the executor’s responsibility to submit accurate accounts on the estate. This isn’t a simple job, especially during such a trying time.

Estate accounting involves showing the transactions paid to and from a deceased estate. Bank statements, bank books and other records must be reviewed and combined chronologically. This can take a considerable amount of time and effort.

Why estate accounting matters

The transactions in a deceased estate need to account for all assets and liabilities at the date of death or at the beginning of any subsequent account period. It also highlights the capital and the income on the receipts and payments sides of the cashbook statement.

During the administration of most deceased estates, there will be bank account transactions (such as interest, bank fees) until those accounts are closed, and there will typically be transactions recorded in a solicitor’s trust account until an estate account can be opened.

We may also need to review other records, such as property sale settlement details or broker contacts notes when shares are sold. We can then combine all transactions in date order, as if they’d passed through one bank account.

Ensure your accounts meet the rules of court

There’s a reason why other solicitors come to John Poole for his advice on estate accounting. Having specialised in this area of law for decades, he has also helped set guidelines for accrediting solicitors.

As estate accounting experts, we’re skilled at preparing accurate accounting records. Your records will be compiled in a format preferred by the courts.

Contact us to discuss your accounting needs

Powers of Attorney & Guardianship

Who will make financial, legal and lifestyle decisions on your behalf if you’re unable to? When we meet to discuss your will, we can discuss why, how and who to appoint as an Enduring Power of Attorney or Enduring Guardian.

Estate Accounting

We specialise in preparing detailed and accurate estate records, ready for submission. If you’re acting as an executor, this can make all the difference during a complex process.

Accredited Specialist Wills & Estates Law