A personal representative, whether executor or administrator, has a duty to be ready at all times to account to persons who have a beneficial interest in the estate.
This duty includes promptly responding to requests for information, providing documentation as needed, and keeping detailed records of the monies and other assets into and out of the estate.
The accounting process allows the personal representative an opportunity to show the beneficiaries how the estate was administered and it forms an integral part of the administration of every estate.
Unless and until all residuary beneficiaries have approved and have signed off on an executor or administrator’s accounts, the personal representative cannot make a distribution of the residuary estate.
In circumstances where unanimous approval cannot be obtained, the personal representative must have their accounts passed formally before the BC Supreme Court.
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This article is intended for information purposes only and should not be taken as the provision of legal advice. Grace C. Cleveland is a lawyer with the law firm of Cleveland Doan LLP and can be reached at (604)536-5002 or email@example.com.