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An estate checking account is there anyone watching that account to make sure the money is spent right ? |
An estate checking account is there anyone watching that account to make sure the money is spent right ? Executor of the estate has to do a reconcilliation before presenting the final estate to the probate court who can challenge any checks that are not appropriate At various stages of the probate process, the Personal Representative/Executor is required to file a document known as an Accounting. It is often the case that the first Accounting is also the Final Accounting. By filing this document and providing copies (or notice of the filing) to all Interested Persons in the Estate of the Decedent, those with the need or desire to know (including the Register of Wills, the Orphans'/Probate Court and all Interested Persons and Creditors) will have an apportunity to review the Accounting to determine whether or not it appears accurate. If these Interested Persons, etc. do not file exceptions to the Accounting (within a certain prescribed time frame, such as 20 days), it will likely be deemed accurate by the Court. |
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