sec.648Requirements of estate account

### sec.648 Requirements of estate account An estate account must give an account of the property of the estate to which it applies and include the following— clear and succinct particulars of all transactions that have occurred in respect of any bank or trust account relating to the estate; The particulars may be set out in spreadsheet format in chronological order, with— each receipt and disbursement divided into capital and income components; and running column totals at the bottom of each page and top of each successive page; and progressive calculations of total funds on hand. an inventory of the estate; all distributions under the will (including the will as varied by a court order), trust instrument or on intestacy for the estate; the value of all distributions and assets remaining on hand, reconciled to the net balance of the estate; the changes in any investments made in the course of administration; details of any other dealings with the property of the estate. Subject to subrule (3) , if a person is the personal representative of a deceased individual and the trustee of an estate of the deceased individual, the person may include in the same estate account a statement of the administration of the estate both as personal representative of the deceased individual and as trustee of the estate of the deceased individual. The estate account must identify property received and disbursed by the person in each capacity. r 648 sub 2011 SL No. 296 s 21 (sec.648-ssec.1) An estate account must give an account of the property of the estate to which it applies and include the following— clear and succinct particulars of all transactions that have occurred in respect of any bank or trust account relating to the estate; The particulars may be set out in spreadsheet format in chronological order, with— each receipt and disbursement divided into capital and income components; and running column totals at the bottom of each page and top of each successive page; and progressive calculations of total funds on hand. an inventory of the estate; all distributions under the will (including the will as varied by a court order), trust instrument or on intestacy for the estate; the value of all distributions and assets remaining on hand, reconciled to the net balance of the estate; the changes in any investments made in the course of administration; details of any other dealings with the property of the estate. (sec.648-ssec.2) Subject to subrule (3) , if a person is the personal representative of a deceased individual and the trustee of an estate of the deceased individual, the person may include in the same estate account a statement of the administration of the estate both as personal representative of the deceased individual and as trustee of the estate of the deceased individual. (sec.648-ssec.3) The estate account must identify property received and disbursed by the person in each capacity. - (a) clear and succinct particulars of all transactions that have occurred in respect of any bank or trust account relating to the estate; Example of how paragraph (a) may be complied with— The particulars may be set out in spreadsheet format in chronological order, with— (a) each receipt and disbursement divided into capital and income components; and (b) running column totals at the bottom of each page and top of each successive page; and (c) progressive calculations of total funds on hand. - (a) each receipt and disbursement divided into capital and income components; and - (b) running column totals at the bottom of each page and top of each successive page; and - (c) progressive calculations of total funds on hand. - (b) an inventory of the estate; - (c) all distributions under the will (including the will as varied by a court order), trust instrument or on intestacy for the estate; - (d) the value of all distributions and assets remaining on hand, reconciled to the net balance of the estate; - (e) the changes in any investments made in the course of administration; - (f) details of any other dealings with the property of the estate. - (a) each receipt and disbursement divided into capital and income components; and - (b) running column totals at the bottom of each page and top of each successive page; and - (c) progressive calculations of total funds on hand.