Taking Final Account of the Estate

Minnesota Probate Law

The final account is an important step in the probate process. The document shows the court that everything that needs to be taken care of on behalf of the estate has in fact been taken care of as best as possible.

The personal representative of the estate is responsible, usually through his or her attorney, for preparing the final account. Hiring an attorney by this point, if you have not done so already, is a wise idea. You want to be sure to get this right the first time.

The final account needs to include among its items the disbursements made from the estate to any beneficiaries or creditors, the credits or income paid to the estate by any of its debtors, and any expenses the estate incurs between the death of the decedent and the final disposition of the estate. Expenses can include the cost of the funeral, taxes, medical bills, and the actual cost of administering the estate.

The final account needs to detail the distribution of assets and property from the estate to any devisees as well.

If you are at the point where you need to wrap up the estate administration and have not yet hired a lawyer to assist you, I am happy to offer my services. I am a Minnesota probate attorney.