Written by attorney Kera Murphy Reed

Estate Closure and Fiduciary Liability

Once you have collected the assets of the estate, paid the expenses, debts and taxes you are ready to close the estate. In order to close the estate you should prepare what is known as an accounting. This accounting shows the beneficiaries what you collected, what you paid and what is left to be distributed. The accounting should be detailed and show all transactions in and out of the estate account.

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