Must an Executor Provide Formal Accounting to Heirs? (w/Examples) + FAQs

Yes, an executor must provide an accounting to heirs unless every single heir agrees in writing to give up that right. This isn’t just a suggestion; it’s a legal duty rooted in the executor’s role as a fiduciary—someone entrusted to act in the best interests of others. The primary conflict arises from this legally mandated transparency, specifically the fiduciary duty of full disclosure, clashing with an executor’s ability to operate in secret. The immediate negative consequence of violating this duty is severe: the executor can be held personally liable for any financial losses and may be forcibly removed by a judge.

This issue is far from rare; a staggering 31.2% of all inheritance disputes are about problems with executors.¹ The silence and secrecy from an executor are often the first signs of a much larger problem. This guide will break down the complex world of estate accounting into simple, actionable steps for both executors and heirs.

📜 Understand the Core Duties: Learn what the law legally requires of an executor and the severe penalties for failing to meet these standards.
🕵️ Spot Red Flags: Discover the top 11 warning signs of executor misconduct, from subtle delays to outright theft, and what they mean for your inheritance.
⚖️ Master the Two Types of Accounting: Uncover the critical differences between a simple “informal” summary and a court-mandated “formal” accounting, and when you absolutely need the latter.
✍️ Wield Your Power: Learn the step-by-step legal process for forcing a secretive executor to reveal every financial detail to a judge.
🛡️ Protect Yourself: Get a clear list of Do’s and Don’ts for both executors who want to avoid personal liability and beneficiaries who need to protect their rightful inheritance.

The Unbreakable Bond: What Is a Fiduciary Duty?

At the heart of an executor’s job is a legal concept called fiduciary duty. This is the highest standard of care under U.S. law, transforming the executor from a simple manager into a trusted guardian of the estate.² It means the executor must legally prioritize the interests of the beneficiaries above their own, requiring complete honesty, loyalty, and diligence.⁴

This isn’t a passive role; it’s an active obligation. An executor breaches this duty not just by stealing, but also by being lazy, secretive, or careless with the estate’s money and property.⁵ This duty is the legal foundation that gives beneficiaries the right to demand a full financial accounting.

The Key Players on the Estate Stage

Three main parties are involved in the administration of an estate, each with distinct roles and concerns. Understanding who they are is the first step in navigating the process.

The Executor (or Personal Representative): Appointed by the will or the court, this person is in charge.² Their goal is to settle the estate efficiently, pay all debts and taxes, and distribute the remaining assets, all while protecting themselves from being sued.⁷ Their biggest fear is making a mistake that could make them personally liable for the estate’s losses.⁸
The Beneficiaries (or Heirs): These are the people entitled to inherit from the estate.² Their primary goal is to receive their rightful inheritance in a timely manner and to ensure the executor is managing the estate honestly.¹⁰ Their greatest fear is that the executor is mismanaging, stealing, or wasting assets, thereby shrinking their inheritance.¹²
The Probate Court (or Surrogate’s Court): This is the judicial body that oversees the entire process.¹⁵ The court’s goal is to ensure the deceased person’s wishes are followed, all laws are obeyed, and any disputes are resolved fairly.³ The court acts as the ultimate referee, holding the power to approve actions, order accountings, and remove executors who fail their duties.³

The Executor’s Core Job: More Than Just Reading a Will

An executor’s responsibilities go far beyond simply reading the will and handing out money. They must perform a series of critical tasks that form the basis of any future accounting. Each step must be documented with painstaking detail.

First, the executor must find and take control of all of the deceased’s assets, a process called marshalling assets.¹⁷ This involves creating a detailed list, or inventory, of everything from bank accounts and real estate to jewelry and cars, and getting it all professionally appraised to determine its value at the date of death.² This inventory is the starting point for the entire accounting.

Next, a crucial step is to open a separate bank account solely for the estate.² All cash from the deceased, plus any income earned during the process (like rent or stock dividends), must go into this account. Critically, all estate expenses must be paid from this account, which prevents commingling—mixing personal funds with estate funds, a serious breach of fiduciary duty.²¹

Then, the executor must pay the estate’s bills. This includes notifying creditors, paying valid debts, and filing the deceased’s final income tax returns.²³ Federal law and state statutes dictate a strict order for paying debts; taxes and funeral expenses, for example, must be paid before credit card bills.²⁴ Paying bills in the wrong order can make the executor personally liable for the mistake.²⁵

Finally, throughout this entire process, which can take a year or more, the executor must keep meticulous records of every single transaction.²⁶ Every dollar in and every dollar out must be backed up by a receipt, invoice, or bank statement. This paper trail is not optional; it is the executor’s only defense against accusations of mismanagement and the raw material for any accounting.²⁹

Informal vs. Formal Accounting: Choosing Between Peace and War

The word “accounting” can mean two very different things in the world of estates. The choice between them often depends on one factor: trust. Understanding the difference is critical for both executors seeking protection and beneficiaries seeking transparency.

An informal accounting is a summary of the estate’s finances that the executor prepares and shares directly with the beneficiaries, without court involvement.³² It’s the most common, fastest, and cheapest way to close an estate.³³ This document is usually paired with a legal form called a Receipt and Release or Waiver of Accounting.³

By signing the waiver, each beneficiary confirms they have seen the financial summary, approve of the executor’s actions, and legally release the executor from all future liability.³⁷ This release is the executor’s ultimate shield. However, a single beneficiary can refuse to sign, which immediately forces the executor down the much more difficult and expensive path of a formal accounting.¹⁴

A formal accounting (also called a judicial accounting) is a highly detailed, legally formatted report filed directly with the probate court for a judge to audit and approve.³ This process is automatically triggered if a beneficiary refuses to sign a waiver, if there are disputes, or if the will or state law requires it.³² It is an adversarial process designed to resolve conflict under a judge’s supervision.³³

This isn’t a simple spreadsheet. A formal accounting is a complex set of documents that must balance to the penny and follow strict court rules.³³ It provides a complete, line-by-line history of the estate, forcing every transaction into the open.

| Feature | Informal Accounting | Formal (Judicial) Accounting |

|—|—|

| Court Involvement | None. It’s a private agreement between the executor and beneficiaries.32 | Mandatory. The report is filed with and audited by a probate judge.32 |

| Cost to the Estate | Low. Usually just the legal fees for preparing a summary and release forms.33 | High. Involves significant attorney and accountant fees, plus court filing fees.43 |

| Time to Complete | Fast. Can be done as soon as all beneficiaries review and sign the waivers.33 | Slow. Can add many months, or even years, to the process due to court backlogs and potential objections.33 |

| Legal Finality | Legally binding only on the beneficiaries who sign the release.37 | A judge’s order approving the accounting is legally binding on everyone, giving the executor a complete discharge from liability.16 |

| Best For… | Simple, uncontested estates with a high level of trust among all parties.33 | Complex or disputed estates, or any situation where a beneficiary refuses to provide a release.29 |

When a Formal Accounting Is Not a Choice, But a Command

While many estates are settled informally, certain situations make a formal, court-supervised accounting an absolute requirement. These triggers are built into the legal system to protect beneficiaries, creditors, and the integrity of the process.

State law is the biggest driver. Many states have laws that automatically require an accounting after a certain amount of time has passed. For example, in Texas, any interested person can legally demand an accounting 15 months after an executor is appointed.⁴⁵ In California, an accounting is generally required annually for estates open longer than a year and always before an estate can be closed.²¹

The will itself can also mandate a formal accounting. A person writing a will (the testator) might include a clause requiring a court accounting, especially if they anticipate conflict among their heirs, such as in blended families or when distributions are unequal.¹¹ This acts as a pre-emptive measure to ensure a judge oversees the process from the start.

A probate judge can also order an accounting on their own initiative (sua sponte).³² This usually happens when there are obvious red flags, such as an estate remaining open for an unusually long time without any progress, or if an executor resigns or is removed from their position.³²

Finally, the right to demand an accounting isn’t limited to just the heirs. Any “interested party“—defined as anyone with a financial stake in the estate—can compel one.⁸ This includes creditors who are owed money, who have a right to ensure their debts are paid before any inheritance is distributed.⁸

Warning Signs: 11 Red Flags of a Bad Executor

An executor’s job is complex, and minor delays can happen. However, a pattern of certain behaviors should raise serious alarms for beneficiaries. Recognizing these red flags early is the key to protecting your inheritance before it’s too late.

Total Radio Silence. This is the number one predictor of estate litigation.¹² If an executor consistently ignores your calls and emails for months, it’s a major warning sign.³⁹
Refusal to Provide the Will. Beneficiaries have a right to see the will. An executor who refuses to provide a copy is directly breaching their duty and likely hiding something.²⁵
Unreasonable Delays. While probate takes time (often a year or more), there should be clear progress.⁵⁵ If months pass and basic steps like filing an inventory haven’t been taken, it signals neglect.⁵¹
Using Estate Property for Personal Benefit. An executor living in the deceased’s house rent-free, using the estate’s car, or taking “souvenirs” from the home are all forms of self-dealing.⁵⁷
Selling Assets Below Market Value. Selling the family home to a relative for a suspiciously low price is a classic example of self-dealing and a massive breach of trust.³¹
Mixing Personal and Estate Funds (Commingling). If you see the executor depositing estate checks into their personal account or paying their own bills from the estate account, it’s a serious breach and a huge red flag for theft.²⁹
Hiring Friends or Family for Estate Work. Unless approved by the court, an executor hiring their own company or a relative to do work for the estate (like real estate services or repairs) is a conflict of interest.⁶⁰
Making Early Distributions to a Favorite Beneficiary. An executor cannot give one beneficiary their inheritance early while making others wait. This violates the duty of impartiality.⁵
Paying Themselves Without Court Approval. Executors are entitled to a fee, but in most states, they must get court approval before taking it.²¹ Taking money without permission is a form of misappropriation.
Ignoring Debts and Taxes. An executor who fails to pay the estate’s taxes or valid debts on time can incur penalties and interest, reducing the beneficiaries’ inheritance. The executor can be held personally liable for these costs.⁵⁸
Refusing to Provide an Accounting. An executor who flat-out refuses a reasonable request for financial information is directly violating their core fiduciary duty. This is often the clearest sign that it’s time to get a lawyer.²⁵

Real-World Nightmares: Three Scenarios of Executor Failure

These stories, based on common legal disputes, show how quickly things can go wrong and the devastating consequences for families.

Scenario 1: The Ghost Executor

A father passes away, naming his son as executor and leaving the estate to his three children. After the funeral, the son goes completely silent. For two years, the other siblings’ calls and emails go unanswered. They have no idea what’s happening with their father’s house, his bank accounts, or his investments.

Action (or Inaction)	Consequence
The executor stops all communication with the other beneficiaries for over two years.	The beneficiaries are left in the dark, causing immense anxiety and suspicion that the executor is hiding something or stealing from the estate.¹⁴
The executor fails to secure and maintain the father’s home.	The property falls into disrepair, and its value plummets. This is a form of waste, and the executor can be held personally liable for the loss in value.⁵
The beneficiaries finally hire an attorney to force an accounting.	The estate’s funds are used to pay for the executor’s legal defense and the costly process of recreating years of missing financial records, shrinking everyone’s inheritance.³

Scenario 2: The Self-Serving Sibling

A mother’s will leaves her estate, including her $500,000 home, to be split equally between her two children, naming the daughter as executor. The daughter decides she wants the house. Without telling her brother, she sells the house to herself for $300,000, a price far below its market value.

Executor’s Action	Consequence
The executor sells a major estate asset to herself at a discounted price without court approval or beneficiary consent.	This is a textbook case of self-dealing, a severe breach of the duty of loyalty. The transaction is legally voidable by the court.⁵
The executor uses estate funds to pay for her personal car repairs, listing it as an “administrative expense.”	This is misappropriation (theft). The executor can be ordered to repay the stolen funds to the estate from her own money.⁵
The brother hires a lawyer and challenges the accounting and the home sale in court.	The judge removes the daughter as executor, voids the sale of the house, and surcharges her. She is forced to personally repay the stolen funds and the legal fees the estate spent to expose her misconduct.⁶⁰

Scenario 3: The Well-Intentioned but Incompetent Friend

A woman names her lifelong best friend as executor, trusting her completely. The friend, wanting to help the grieving children quickly, immediately distributes most of the cash in the estate to them. She then starts paying bills as they come in, not realizing that by law, taxes and certain debts must be paid first.

Executor’s Action	Consequence
The executor distributes inheritances to beneficiaries before all of the estate’s debts and taxes have been identified and paid.	This is a critical error. If not enough money is left to pay a priority debt (like taxes owed to the IRS), the executor becomes personally liable for the shortfall.²⁵
She fails to keep detailed records, only maintaining a simple checkbook ledger without saving all invoices or receipts.	When the final accounting is due, she cannot justify all the expenses or prove that all debts were handled correctly, exposing her to challenges from creditors or beneficiaries.²⁶
The IRS sends a bill for unpaid taxes, but the estate account is now empty.	The executor is forced to pay the tax bill out of her own pocket because she made the mistake of distributing the assets too soon.⁸

Mistakes to Avoid: A Guide for Executors

Serving as an executor is a minefield of potential errors that can lead to personal liability. Avoiding these common mistakes is crucial for a smooth administration and for your own financial protection.

Making Distributions Too Soon: This is the most dangerous trap. Never give beneficiaries their inheritance until you are absolutely certain all debts, taxes (including the final income tax return), and administrative expenses have been paid. If you distribute assets early and a surprise bill comes in, you may have to pay it yourself.²⁵
Commingling Funds: Open a separate bank account for the estate immediately. Never deposit estate funds into your personal account or pay estate bills from your personal account. Commingling creates a legal presumption of wrongdoing and makes accounting a nightmare.²¹
Sloppy Record-Keeping: Keep every receipt, every invoice, and every bank statement. Document every single transaction with the date, amount, and purpose. Without a perfect paper trail, you cannot defend your actions in court.²²
Going Silent: Lack of communication breeds suspicion and lawsuits.²⁵ Send beneficiaries regular, brief updates, even if there’s no major news. A simple email every few months can prevent a world of trouble.⁷⁰
Ignoring the Will’s Terms: You must follow the will exactly as it is written, even if you disagree with it or if the deceased told you something different verbally before they died. Deviating from the will’s instructions can make you personally liable for any resulting financial harm.²⁵
Trying to Do It All Yourself: You are not expected to be a lawyer or an accountant. The estate is allowed to pay for professional help. Hiring an experienced probate attorney and a CPA at the beginning of the process is the best way to protect yourself from making costly mistakes.²⁵

Forcing the Issue: How Beneficiaries Can Demand an Accounting

When an executor refuses to provide information, beneficiaries are not powerless. The law provides a clear, step-by-step process to force an executor to disclose every financial detail to a judge. This is a serious legal action and should be handled by an experienced estate litigation attorney.

The Formal Demand Letter: The first step is for your attorney to send a formal letter to the executor demanding a full accounting by a specific deadline. This shows you are serious and creates a paper trail for the court.⁷³
File a “Petition to Compel Accounting”: If the executor ignores the letter, your attorney will file a formal petition with the probate court.²⁵ This legal document outlines your right as a beneficiary to an accounting and details the executor’s failure to provide one.
The Court Issues a Citation: The court will then issue a citation, which is a legal summons ordering the executor to appear in court on a specific date and “show cause” why they should not be forced to file an accounting.⁴⁶
The Court Hearing: At the hearing, the judge will ask the executor to provide a valid legal reason for their secrecy. In nearly all cases, there is no valid reason. The judge will almost certainly grant your petition and issue a court order compelling the executor to file a formal accounting by a strict deadline.⁴⁶
Enforcement and Removal: If the executor defies the court order, they can be held in contempt of court, facing fines or even jail time. More commonly, your attorney will file a new petition to have the executor immediately removed for their breach of duty and failure to obey a court order.²¹

The Waiver of Accounting: To Sign or Not to Sign?

Near the end of the process, the executor will ask you to sign a Waiver of Accounting and Release form. This is a pivotal moment. Signing this document is a major legal decision with significant pros and cons.

Pros of Signing the Waiver	Cons of Signing the Waiver
Faster Inheritance: This is the main benefit. Bypassing a formal accounting can speed up the final distribution by months or even a year.³³	Loss of Oversight: You give up your most powerful tool for uncovering mistakes or misconduct. You are trusting the executor completely.¹³
Lower Estate Costs: Preparing a formal accounting is expensive, with fees paid from the estate. Waiving it preserves more money for the beneficiaries.³³	You Release the Executor from Liability: By signing, you legally give up your right to sue the executor later for any mismanagement, errors, or even theft you might discover.³⁶
Maintains Family Harmony: In families with high trust, insisting on a formal accounting can be seen as an accusation and create unnecessary conflict.	Hidden Problems Remain Hidden: If there was self-dealing or commingling of funds, you may never find out. The release may protect the executor from the consequences of their actions.
Simplicity: It avoids a complex, time-consuming, and often stressful court process for everyone involved.	Information is Limited: You are relying solely on the informal summary provided by the executor, which may be incomplete or misleading.
Executor Protection: It provides the executor with the legal closure and protection they need to finalize the estate.	Difficult to Undo: Once you sign and the court closes the estate, it is extremely difficult, and sometimes impossible, to go back and challenge the executor’s actions.¹³

Never sign a waiver blindly. At a minimum, you should demand a comprehensive informal accounting with bank statements and receipts for any large or questionable expenses. If the executor refuses to provide this backup documentation, it is a massive red flag, and you should refuse to sign the waiver and immediately consult an attorney.

A Deep Dive into the Formal Accounting Document

A formal accounting is not just a summary; it is a highly structured legal document designed for a judge’s review. While the exact format varies by state, all formal accountings must contain specific sections, known as schedules, that detail every aspect of the estate’s financial life. Understanding these schedules is key to reading the document and spotting potential problems.

Here is a breakdown of the typical schedules you will find, using the common format required by courts like those in California and Virginia ¹⁸:

Schedule of Charges (What the Estate Started With & Gained):
- Assets on Hand at Beginning of Period (Inventory): This is the starting point. It must list every single asset from the original court-filed inventory, with its appraised value as of the date of death.⁷⁷ Cross-reference this with the original inventory to ensure nothing is missing.
- Receipts (Income): This schedule details all money that came into the estate during the accounting period. It must list each item chronologically, including interest on bank accounts, stock dividends, rent from real estate, or tax refunds.⁷⁸ Look for consistency and question any large, unexplained deposits.
- Gains on Sale: If an asset was sold for more than its appraised inventory value, the profit is listed here. For example, if a car appraised at $10,000 was sold for $12,000, a $2,000 gain is reported.⁷⁹ High gains on multiple assets could be fine, but a pattern of selling to friends or family warrants scrutiny.
Schedule of Credits (What the Estate Spent & Lost):
- Disbursements (Expenses): This is one of the most critical schedules. It must list every single dollar paid out by the estate, including funeral costs, administrative expenses (like attorney fees, executor commissions, and appraiser fees), and payments to creditors.⁷⁸ Each entry must include the date, payee, purpose, and amount. Scrutinize this section for personal expenses of the executor, payments to the executor’s family members, or unusually high fees.
- Losses on Sale: If an asset was sold for less than its appraised value, the loss is reported here. For example, if stock valued at $50,000 was sold for $45,000, a $5,000 loss is shown.⁷⁹ While market fluctuations happen, a significant loss on a sale to a party related to the executor is a major red flag for self-dealing.
- Distributions to Beneficiaries: This schedule lists any partial inheritances that have already been paid to beneficiaries during the accounting period.⁷⁸ Ensure these distributions are in line with the will and that no beneficiary is receiving preferential treatment.
- Assets on Hand at End of Period: This is the final inventory. It lists all property remaining in the estate at the end of the accounting period, with its current value.⁷⁸ The total value of this schedule must balance with the other schedules.

The math must be perfect: The total “Charges” (what you started with plus what came in) minus the total “Credits” (what went out) must equal the “Assets on Hand at End of Period.” If it doesn’t balance, the accounting is flawed and will be rejected by the court.

The Impact of State Law: Community Property vs. Common Law

The United States has two different systems for classifying marital property, and the system your state uses has a major impact on what is included in an estate accounting.

Common Law States (Most States): In the 41 common law states (like New York and Florida), property acquired during a marriage belongs to the spouse whose name is on the title.⁸⁰ If a husband buys a car in his name only, it is his separate property. When he dies, the full value of that car is part of his estate and must be listed in the accounting.
Community Property States (9 States): In the nine community property states (Arizona, California, Idaho, Louisiana, Nevada, New-Mexico, Texas, Washington, and Wisconsin), assets acquired during the marriage are generally considered owned 50/50 by both spouses, regardless of whose name is on the title.⁸⁰ This is based on the idea that marriage is a partnership.⁸⁰

This creates a huge difference in the estate accounting. If a husband in Texas (a community property state) dies, his estate only includes his separate property plus his 50% share of the community property.⁸¹ The surviving spouse automatically retains her 50% share. The executor must therefore carefully differentiate between separate and community property on the inventory, as they only have authority over the decedent’s half of the community assets.²⁵

Do’s and Don’ts for Executors and Beneficiaries

Navigating the estate process requires careful action from both sides. Following these guidelines can help prevent disputes and protect everyone’s interests.

For Executors:

Do’s	Don’ts
✅ Do Communicate Proactively: Send regular, brief updates to beneficiaries. Transparency builds trust and is your best defense against suspicion.⁷⁰	❌ Don’t Go Silent: Ignoring beneficiaries is the fastest way to get sued. Answer their reasonable questions promptly and honestly.²⁵
✅ Do Keep Flawless Records: Document every single transaction with receipts and statements. Your records are your only proof of proper management.²²	❌ Don’t Mix Funds: Never use your personal bank account for estate business. Open a dedicated estate account immediately to avoid commingling.²¹
✅ Do Hire Professionals: Use estate funds to hire a probate attorney and a CPA. Their fees are a justifiable expense that protects you from personal liability.²⁵	❌ Don’t Make Distributions Early: Wait until all debts and taxes are paid before giving anyone their inheritance. This is the most common cause of personal liability.²⁵
✅ Do Act Impartially: Treat all beneficiaries equally and fairly, as required by law. Do not show favoritism, especially if you are also a beneficiary.⁵	❌ Don’t Self-Deal: Do not sell estate assets to yourself or family, use estate property for personal benefit, or otherwise put your interests ahead of the estate’s.⁵
✅ Do Follow the Will Exactly: Your job is to execute the will as written, not as you think it should have been written. Deviating from its terms is a breach of duty.²⁵	❌ Don’t Delay Unnecessarily: While the process takes time, you have a duty to administer the estate diligently. Long, unexplained delays can be grounds for your removal.⁵¹

For Beneficiaries:

Do’s	Don’ts
✅ Do Stay Proactively Engaged: Ask for a copy of the will and the initial inventory. Send polite, written inquiries for updates every few months.²⁵	❌ Don’t Be Passive: If you sit back and wait, you may not discover problems until it’s too late. A passive beneficiary can embolden a dishonest executor.⁸⁷
✅ Do Document Everything: Keep a record of all your communications with the executor, including dates of calls and copies of emails. This creates a timeline of events.²¹	❌ Don’t Make Verbal Demands: Put your requests for information in writing (email is perfect). This creates a clear paper trail if you need to go to court later.⁶⁹
✅ Do Understand the Process Takes Time: A typical probate can take 12-18 months. Be patient, but don’t accept indefinite silence.³²	❌ Don’t Sign a Waiver Blindly: Never sign a waiver of accounting without first receiving a detailed informal accounting and reviewing backup documents for major transactions.¹³
✅ Do Know the Red Flags: Be aware of the warning signs of misconduct, such as secrecy, commingling funds, or self-dealing.¹³	❌ Don’t Hesitate to Hire a Lawyer: If you see clear red flags and the executor is unresponsive, don’t wait. The longer you delay, the more damage can be done to the estate.²⁵

Frequently Asked Questions (FAQs)

1. Can an executor refuse to show me the will?

No. As a beneficiary, you have a legal right to a copy of the will. If the executor refuses, you can petition the court to compel them to provide it.89

2. How long is too long to wait for an inheritance?

Yes, there are limits. While a typical probate takes 12-18 months, unreasonable delays without explanation can be a breach of duty. Many states allow you to demand an accounting after a set time, like 15 months in Texas.90

3. Does the executor have to show me bank statements and receipts?

Yes. If you make a reasonable request for supporting documents to verify an accounting, the executor is legally obligated to provide them. Bank statements and receipts are part of the estate’s records.32

4. Who pays for the accounting and any legal fights?

The estate. The cost of preparing a standard accounting is a normal administrative expense.33 If a beneficiary sues and proves misconduct, the judge can order the executor to personally repay the estate’s legal fees.14

5. Can I get an executor removed if I don’t trust them?

Yes, but you need a valid reason. Refusing to provide an accounting, mismanaging funds, or self-dealing are all strong grounds for a judge to remove an executor and appoint a replacement.21

6. What if I’m the only beneficiary? Do I still need an accounting?

No, probably not. If you are the sole beneficiary and also the executor, a formal accounting is usually not required because there is no one else to account to.19

7. Can an executor who is also a beneficiary play favorites?

No. An executor who is also a beneficiary must treat all beneficiaries, including themselves, impartially. They cannot prioritize their own inheritance or make decisions that unfairly benefit them over others.5

8. What if there is no will? Does the administrator have to provide an accounting?

Yes. A court-appointed administrator of an estate with no will (an “intestate” estate) has the same fiduciary duties as an executor, including the absolute duty to account for their actions.13

9. Are accounting rules different for very small estates?

Yes. Most states have simplified procedures for “small estates” (e.g., under $184,500 in California) that often do not require a formal, court-supervised accounting to be filed.29

10. I suspect the executor is stealing but have no proof. What do I do?

You compel a formal accounting. You do not need proof to request one; suspicion of mismanagement is enough. The accounting process itself is the legal tool designed to uncover the proof.33

11. Can an executor take a fee for their work?

Yes. Executors are entitled to reasonable compensation paid from the estate. The amount is either set by state law as a percentage of the estate’s value or approved by the court.2

12. What if I sign a waiver and then find out the executor stole money?

You will have a very difficult time suing them. A signed waiver releases the executor from liability. While it may not protect against outright, hidden fraud, it makes legal action much harder and more expensive.