We are estate accounting attorneys in New York City, in practice since 2008. We prepare accountings for executors, administrators and trustees, and we contest accountings on behalf of beneficiaries who believe the numbers are wrong.
When an estate must prepare and file a court-mandated accounting, the fiduciary has to account for every dollar that came in and went out over the administration period, in the schedules and categories the Surrogate’s Court expects. That is a technical exercise, and it becomes a contested one when a beneficiary objects.
For fiduciaries, we assemble accurate and complete accountings that hold up to scrutiny. We review the financial statements and transaction records, classify each transaction under the court’s accounting categories, and catch mistakes before filing so that they do not become objections later. For beneficiaries, we examine accountings prepared by others, identify the transactions that are missing, misclassified or unsupported, and press those points before the Surrogate’s Court. You can call us at 212-233-1233 or email [email protected] to discuss your situation.
Our Estate Accounting Services
We either prepare and file the accounting for you or advise you while you put it together yourself. The work falls into four stages.
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Analyzing the finances and transactions
We review every account record: bank statements, brokerage reports, receipts, bills and deeds. From those we trace the cash coming into and going out of the estate over the administration period, and we classify and document each transaction under the categories the court uses.
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Preparing the accounting forms and schedules
The transaction analysis is then carried onto the official accounting forms and schedules in the format New York requires. The schedules itemize the assets on hand at the start, income received, expenses and administration costs paid, assets sold and any gain or loss, distributions made, and what remains on hand.
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Checking accuracy and compliance
Before filing, we double-check the totals, the reconciliations and the supporting detail. Arithmetic that does not tie out is corrected, and transactions that were classified under the wrong schedule are moved. An accounting that balances and is consistently documented is far less likely to draw objections or a request for further information from the court.
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Contesting accountings
We also represent beneficiaries and other interested parties facing an accounting with errors, gaps or discrepancies. We file objections, take discovery on the questioned transactions, and seek to have the accounting amended, the fiduciary surcharged, or the accounting rejected altogether where that is warranted.
Why Choose Us as Your New York City Estate Accounting Attorneys
Since 2008 we have been preparing accountings for the Surrogate’s Courts in New York City and the surrounding counties, and we know how the judges and court examiners want transactions classified and documentation presented. We keep current with changes to the accounting rules so that filings remain compliant, and we have an A+ rating from the BBB and reviews from past clients that reflect that work.
If you are the fiduciary, we do the heavy lifting: gathering the records, tracking and tallying the finances, meeting the documentation standards, and constructing the schedules and forms, so that the accounting does not become an administrative burden on top of everything else the estate requires. If you are a beneficiary, the same command of the filing requirements is what lets us find the weaknesses in an accounting prepared by someone else.
Frequently Asked Questions
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What is included in an estate accounting?
An estate accounting is a detailed record of all financial transactions during estate administration: the inventory of assets, income received, expenses paid, and distributions made.
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How long does an estate accounting take?
Preparation and filing typically take two to four months, with additional time for court review depending on the complexity of the estate and whether objections are filed.
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When is an estate accounting required?
An accounting is typically required when a beneficiary requests one, when the court orders one, or when it is needed to close a complex estate.
Mistakes in an accounting cause delay, objections and sometimes surcharge against the fiduciary. Whether you need an accounting prepared or you want a questionable accounting examined, call us at 212-233-1233 or email [email protected]. We cover Manhattan, Brooklyn, Queens, the Bronx, Staten Island, Nassau, Suffolk and Westchester counties.
Where We Practice
- New York City
- Manhattan
- Brooklyn
- Queens
- Bronx
- Staten Island
