Law Office of Jason D Jones, P.C.
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Accounting Proceedings

Accounting Proceedings

In an accounting proceeding, a fiduciary is compelled disclose which assets he received and paid out, how he or she has managed funds placed in a trust pursuant to its terms, and how the Surrogate’s Court should shield him or herself from personal liability.  There are different methods of accounting and formal and judicial methods of accounting. I am skilled in handling each method and in explaining what accounting in the trusts & estates context means to clients. 

Accounting Proceedings

What are the various methods to make a fiduciary account to a beneficiary?

  • A fiduciary may prepare an informal accounting on receipts and releases, whereby persons interested in an estate furnish the fiduciary with receipts and releases thereby absolving the fiduciary from further liability. There are also judicial accountings which are more formal and are overseen by the Surrogate’s Court.

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