Estate Accounts (Sample) (ON)

Summary

This is sample of estate accounts maintained by estate trustees in the administration of an estate pursuant to r. 74.17 (1) of the Ontario Rules of Civil Procedure, R.R.O. 1990, Reg. 194 ("Rules"). It contains practical guidance and drafting notes. Rule 74.17 (1) requires estate trustees to maintain accurate accounts of their administration of the estate and file them with the court. In essence, the objective of the estate accounts is to show what original assets existed, what has been done with them and what remains in trust. These accounts are commonly known as "court format accounts". In accordance with the Rules, court format accounts are required to contain the following: (i) a statement of the original assets on hand at the beginning of the accounting period; (ii) a statement of all money received by the estate; (iii) a statement of all money disbursed from the estate; (iv) if the Estate Trustee has made investments, an account detailing the investments; (v) a statement of ...