Understanding, Preparing, And Challenging Fiduciary Accountings

Fiduciaries – conservators, guardians, trustees, and others – frequently have a duty to provide detailed information on all money and assets they are in charge of in their roles as fiduciaries. This may include bank accounts, blocked accounts, stock portfolios, and more.

Fiduciary accountings must show all income into the estate and all estate expenses. As such, fiduciary accountings may be lengthy, complex documents. Generating, reviewing, or challenging these documents are quite involved processes. Legal advice is highly recommended for any fiduciary who has such responsibilities.

If you have a deadline to file or provide an accounting, or have received an order to show cause regarding an accounting, you should not wait to start the preparation of the accounting. Given their complexity, they frequently require significant time to prepare properly.

Preparing And Defending Fiduciary Accountings

Kristof & Kristof, Attorneys at Law, has significant experience in preparing, and subsequently defending, fiduciary accountings.

Accountings prepared by fiduciaries may relate to trust estates, decedent’s estates, guardianship estates, or conservatorship estates.

We believe that the prudent, and usually less expensive, course is to provide accountings that are as complete and clear as possible. It has been our experience that this softens objections and lessens litigation.

Questions sometimes arise when accounting has been presented to beneficiaries or the court for approval. Kristof & Kristof, Attorneys at Law, can assist the fiduciary in answering these questions efficiently.

Kristof & Kristof, Attorneys at Law, has significant experience in preparing and defending fiduciary accounts to safeguard the rights of principals and beneficiaries.

Compelling And Attacking Fiduciary Accountings

When a fiduciary does not provide accounts as required, they are acting inappropriately. Kristof & Kristof, Attorneys at Law, can work to obtain the account and can assist in determining if the fiduciary has properly demonstrated that he or she is acting appropriately.

Where it can be shown by the account, or the fiduciary’s refusal to account, that the fiduciary has breached their duties, Kristof & Kristof, Attorneys at Law can seek the removal of the fiduciary from their position of trust.

For Advice And Assistance

Call 626-535-9445 or email our law firm to request a consultation about any aspect of fiduciary accountings.