As a Personal Representative you have a duty to keep accounts during the period of administration and final accounts at the end known as Estate Accounts.
The Estate Accounts will show ALL transactions you have made during the administration, all payments you have made (with supporting receipts) and how the balance now available for distribution has been calculated.
There is no standard format.
It is essential the accounts are accurate, correct and clear. The accounts should be prepared before you distribute the estate.
All residuary beneficiaries are entitled to a copy and indeed you should ask the beneficiaries to approve the accounts before distribution takes place.
What is the next step?
At Macks, we can explain Estate Accounts and help you prepare these.
We strongly recommend a face-to-face meeting with one of our specialist Solicitors who will be able to explain things in greater detail and advise you on what to do next. The initial meeting will be free of charge and will explain the assistance we can provide to administer the estate, prepare Estate Accounts and what final steps you need to take.