Legal Question in Wills and Trusts in New Jersey

Re: probate of estate

NJ does not require either an interim or a final accounting to be filed with the Court. It is more common that no accounting is filed at all, and the estate settled informally and privately.

However, the executor may file a court accounting if he/she wishes to, and the beneficiaries have an absolute right to an accounting if they want one. If an accounting is filed with the court, it becomes public record and anyone can obtain a copy of the court proceedings if they want to pay for them. There is no general time limit on when to file an accounting. Typically it is filed when the estate is nearly completed and final distributions are about to be made.

The form of an accounting is specified in the court rules...However, I suggest you consult an experienced estate attorney to assist you as this is not an easy task.

Re: probate of estate

I generally agree with Jon. No formal accounting is required to be filed with the Court unless there are objections by a party in interest. I usually, on behalf of the Executor, prepare a simple, informal, accounting, which is presented to the beneficiaries of the estate for informal approval, at the time I present to them Release and Refunding Bonds. These documents (R&RB) show what each beneficiary has/will receive from the estate (again informally), and are required to be filed with the Surrogate to complete the Executor's reporting to the Surrogate and to close out the estate with the Surrogate. If you need assistance, contact me directly.