Passing of Accounts
An estate trustee, or executor, as well as an attorney or guardian of property, may be required by a beneficiary or court order to pass his/her account. A passing of accounts, which is brought by way of an application, is like an audit. For example, the beneficiaries of an estate have a right to know the extent of the estate’s original assets, outstanding liabilities, as well as payments made and received by the estate. The beneficiaries can review any receipts in support of such payments. Furthermore, the beneficiaries also have the right to object formally to any transaction that they consider suspicious, demand further information, and/or object to the amount of compensation that an estate trustee claims as remuneration. If the beneficiaries’ objections are not answered to their satisfaction, a hearing is held before a judge who will decide the matter and ultimately pass the accounts. A passing of accounts can be complicated and hard fought. We can help. We can also help arrange for estate accounts to be put in proper court format for an application to pass accounts.