Final Accounting
/ˈfaɪnəl əˈkaʊntɪŋ/
Definitions
- (n.) A detailed statement of all financial transactions and distributions made in the administration of an estate, trust, or account, typically submitted to a court for approval.
The executor prepared the final accounting to present to the probate court for settlement approval.
Forms
- final accounting
Related terms
See also
Commentary
Final accounting is a critical step in fiduciary administration, providing transparency and ensuring proper disbursement; drafters should clearly specify the timing and content requirements in fiduciary agreements.
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