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Probate Accounting Form

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SUMMARY OF ACCOUNT for MINOR FINANCIAL GUARDIANSHIP

STATE OF VERMONT

SUPERIOR COURT
PROBATE DIVISION
Unit Docket No.

In re Guardianship of :

As the financial guardian(s) of the above named minor, I/we hereby account to the Court for the period beginning and ending

Date of Your Appointment as Guardian or Date of Last Accounting End Date for This Accounting Period

This is an interim account.

This is a final account.

ACCOUNTING WORKSHEET

Complete the Schedules in Sections A, B and C first. For each schedule (A1-A7, B1-B7 and C1-C2) that you enter an amount greater than 0, you MUST include an itemized accounting on a separate sheet of paper. Once you total the amount for each section, you must then record those totals on the Summary of Account on page 3. You must complete all sections top and bottom. If there is no value, please indicate with a zero.

SECTION A – ASSETS and RECEIPTS

Schedule   Value
A-1 Personal estate: (per inventory value or last account) $
A-2 Real estate: (per inventory value or last account) $
A-3 Gain on personal estate sold (attach itemized list) $
A-4 Gain on real estate sold (attach itemized list) $
A-5 Income to estate since inventory last account (attach itemized list) $
A-6 Personal and/or real estate not listed on inventory (attach itemized list) $
A-7 Monies advanced to the guardian(s) for the guardianship (attach itemized list) $
TOTAL ASSETS AND RECEIPTS
Add all lines in Section A		 $

SECTION B – DISBURSEMENTS

You must complete all sections top and bottom. If there is no value, please indicate with a zero. List only disbursements since estate opened or last account

Schedule   Value
B-1 Loss on personal estate sold (attach itemized list) $
B-2 Loss on real estate sold (attach itemized list) $
B-3 Paid debts (attach itemized list) $
B-4 Administrative expenses (attach itemized list) $
B-5 Attorney fees (attach itemized statement) $
B-6 Guardian fees previously approved by the Court (attach itemized statement) $
B-7 Other disbursements (attach itemized list) $
TOTAL DISBURSEMENTS
Add all lines in Section B		 $

SECTION C – BALANCE HELD BY GUARDIAN

C-1 Personal Estate: Include values for cash in bank accounts, stocks, bonds, cars, etc. If real estate has been sold, include the net proceeds from the sale. (attach itemized list) $
C-2 Real Estate: Include the value of any real property. If there is no real estate or if all real estate has been sold, enter zero. The proceeds from any real estate that has been sold should be entered on line C-1. (attach itemized list) $
TOTAL BALANCE HELD BY GUARDIAN
Add line C-1 and C-2		 $

SUMMARY OF ACCOUNT

This is an interim account.

This is a final account.

ACCOUNT SUMMARY (totals taken from accounting worksheet(s))

1. TOTAL ASSETS and RECEIPTS from Section A $

2. TOTAL DISBURSEMENTS from Section B $

3. BALANCE HELD BY GUARDIAN Subtract Line (2) from Line (1) $

REAL ESTATE (Value of real estate not sold) $

PERSONAL ESTATE (Include value of all personal property including cash, stocks, bonds, cars, etc. $

Date

Signature of Guardian

Guardian’s Name Printed

Signature of Co-Guardian if applicable

Co-Guardian’s Name Printed

Subscribed and sworn before me on:

My commission expires on:

Signature of Notary ____________________

STOP: Did you include an itemized list for each schedule where the value you recorded was greater than zero? The itemized lists must be attached to this form when you file it. At the top of each list, please indicate clearly the Section of the Form, the Schedule letter and number (e.g. A-1) and the type of asset, receipt or disbursement (e.g. Section B, Schedule B-3, Paid Debts).

MOTION TO ALLOW ACCOUNT

I/We, request that the Court allow the account as set forth in the attached Summary of Account for Minor Financial Guardianship. I have attached an itemized list for each schedule that has a value greater than zero.

Date

Signature of Guardian

Guardian’s Name Printed

Signature of Co-Guardian if applicable

Co-Guardian’s Name Printed

Note: If there are co-guardians, both guardians must sign.

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What the Probate Accounting Form Is and When It’s Used

A Probate Accounting Form is a formal record prepared by a personal representative or administrator that itemizes an estate’s assets, receipts, disbursements and distributions during an accounting period. It typically lists beginning balances, all funds received, expenses paid on behalf of the estate, distributions to beneficiaries and an ending balance. The accounting is filed with the probate court or submitted to interested parties as required by local rules and may accompany petitions for settlement, final distribution, or approval of fees.

Why a Clear Probate Accounting Matters

A complete accounting creates transparency for beneficiaries, supports executor fiduciary duties, and shortens disputes by documenting transactions and basis for distributions. Proper preparation helps courts evaluate fees, taxes, and final distributions while preserving evidence if the accounting is later contested.

Why a Clear Probate Accounting Matters

Who Prepares and Reviews Probate Accountings

Several parties prepare, review, or receive a probate accounting depending on estate size and complexity.

  • Personal representatives and executors — prepare the accounting and certify accuracy to the court and beneficiaries.
  • Probate attorneys and accountants — review asset valuations, tax consequences, and fee claims before filing.
  • Probate court clerks and judges — evaluate the accounting during approval hearings or settlement petitions.

Step-by-Step: Preparing a Court-Ready Accounting

Follow a clear sequence to gather records, create the accounting, obtain approvals, and file with the court to minimize objections and processing delays.

  • 01
    Gather Records: Collect bank statements, brokerage records, receipts, invoices and prior inventories.
  • 02
    Draft Accounting: Prepare beginning balance, receipts, disbursements, fees, taxes, and ending balance with line-item support.
  • 03
    Review and Adjust: Have an attorney or CPA review for valuation, tax consequences and allowable expenses.
  • 04
    File and Serve: File the accounting per local probate rules and serve interested parties as required.

Where to File and How the Submission Process Works

Submitting a probate accounting normally requires both filing with the probate court and service on beneficiaries; methods vary by jurisdiction and court rules.

  • File with Probate Court: Submit the accounting to the clerk in the county where the estate is open; follow local filing requirements.
  • Serve Interested Parties: Provide copies to beneficiaries and creditors per the court’s service rules; proof of service is typically required.
  • Optional Electronic Submission: Some courts accept e-filings; verify with the clerk if PDF/electronic submissions are permitted.
  • Retain Copies: Keep signed, dated originals and supporting records for the estate file and tax purposes.

Setting Up an Online Accounting Workflow

Configure a repeatable digital workflow to reduce manual entry, collect signatures, and maintain an audit trail for the accounting process.

Field Configuration
Template Create a reusable form with accounting sections and attachments enabled
Conditional Fields Show expense detail fields only when disbursements exceed threshold
Authentication Require signer email or SMS code to link identity to the record
Delivery Auto-send signed copy to court clerk and beneficiaries

How to Share and Sign the Accounting Electronically

Choose a platform that supports PDF/DOCX uploads, secure signatures, and role-based routing to preserve chain-of-custody and audit trails.

  • File Formats: PDF, DOCX and TIFF supported
  • Authentication: Email link, SMS code, or stronger MFA
  • Integrations: Connectors for NetSuite, Microsoft 365 and Google Workspace

Common Timeline Items and Expected Processing Steps

Timing for accountings depends on local rules; plan for internal preparation, review, service, and court scheduling when estimating completion.

Internal Preparation Time:

Varies by estate size; allow weeks to months for complex estates

Service to Beneficiaries:

Many courts require service before a hearing; proof of service is filed

Court Review Period:

Clerk or judge may set a hearing date after the accounting is filed

Tax-Related Filing:

Estate income tax (Form 1041) generally follows regular tax deadlines

Potential Extensions:

Motions or continuances can extend the final settlement timeline

Consequences of an Incomplete or Incorrect Accounting

Court Sanctions: Monetary penalties or court-ordered remedies
Surcharge: Court may surcharge the executor for losses
Removal Risk: Gross misconduct can lead to removal as personal representative
Contested Accounting: Disputes increase legal fees and delay distributions
Tax Exposure: Errors may trigger IRS adjustments or penalties
Evidentiary Issues: Missing support weakens defenses in objections

Common Pitfalls to Avoid When Preparing the Accounting

  • Omitting small but recurring transactions such as bank fees or interest, which can add up and create reconciliation gaps.
  • Failing to attach supporting evidence for large disbursements, making it harder to justify expenses to beneficiaries or the court.
  • Using inconsistent valuation dates for assets, which can lead to disagreements about the correct distribution basis.
  • Not serving beneficiaries or creditors according to local rules, resulting in procedural objections or rejected filings.

Key Elements to Include in a Professional Probate Accounting Form

A thorough accounting presents clear sections and supporting exhibits so beneficiaries and the court can verify transactions and balances easily.

Opening Inventory

List assets and values at the start of the accounting period, including property, cash and investments with supporting appraisal or statement references.

Receipts

Document all income and receipts during the period by date and source, such as rents, dividends, sale proceeds and refunds.

Disbursements

Itemize payments made for estate administration, taxes, debts, attorney fees and distributions with dates and payee details.

Fee Statements

Include requested executor and attorney fee calculations and supporting timesheets or retainer agreements when applicable.

Schedule of Distributions

Detail proposed distributions to beneficiaries with amounts, dates and references to beneficiary entitlements under the will or law.

Supporting Exhibits

Attach bank statements, closing statements, invoices, receipts and appraisals to substantiate all material line items.

Supporting Documents Commonly Filed With an Accounting

Attach core supporting documents to reduce follow-up requests from the court and speed approval of the accounting.

Will or Trust

A copy of the decedent’s will or trust instrument (if applicable) to confirm beneficiary designations and the executor appointment.

Letters Testamentary

Court-issued letters that authorize the executor or administrator to act on behalf of the estate; include a certified copy when filing.

Inventory and Appraisals

Current inventories and formal appraisals for real property or unique assets that materially affect distributions or tax reporting.

Bank and Brokerage Records

Transaction histories and monthly statements to support listed receipts and disbursements and to reconcile ending balances.

eSignature Vendor Comparison for Probate Accounting Workflows

Compare common eSignature plans for document signing and routing; signNow appears first for parity in feature comparison without implying endorsement.

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Frequently Asked Questions About Probate Accountings

Answers address common procedural, authentication and filing concerns when preparing probate accountings for court submission and beneficiary review.


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