When Account Required - Accounts - Probate - CA

Section § 10950

This section allows the court to request a financial account of an estate managed by a personal representative. The court can do this at any time, either on its own or after a request by someone with an interest in the estate. If a year has passed since the last account or since the representative took charge of the estate, the court must order an account if an interested person asks. The court will also provide a deadline for when the account needs to be filed.

(a) On its own motion or on petition of an interested person, the court may order an account at any time.

(b) The court shall order an account on petition of an interested person made more than one year after the last account was filed or, if no previous account has been filed, made more than one year after issuance of letters to the personal representative.

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Section § 10951

This law requires the personal representative, who manages an estate, to submit a final report and request for the final distribution of the estate's assets once everything is ready for the estate to be closed.

The personal representative shall file a final account and petition for an order for final distribution of the estate when the estate is in a condition to be closed.

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Section § 10952

If a personal representative, who manages someone's estate, steps down or is removed, they have 60 days to file a financial report about what they did in their role. If they don't do this, the court can force them to submit the report.

A personal representative who resigns or is removed from office or whose authority is otherwise terminated shall, unless the court extends the time, file an account not later than 60 days after termination of authority. If the personal representative fails to so file the account, the court may compel the account pursuant to Chapter 4 (commencing with Section 11050).

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Section § 10953

This law explains what happens when a personal representative of an estate dies or becomes unable to perform their duties. A personal representative is someone who manages the estate of a deceased person. If this person becomes incapacitated, meaning they can't do their job, or if they die, a substitute called a 'legal representative' might be appointed. This legal representative must file a report on the deceased representative's work within 60 days, unless more time is granted. If no legal representative is appointed, or if the representative can't be found, the court can require the last known attorney of the deceased or incapacitated representative to file the report.

The law states that whoever is preparing this report must do so carefully and can verify it based on what they know or believe. The court will review and approve this report like other similar reports. If they need help with the accounting, the legal representative or attorney can be compensated, and this cost will be charged to the estate. If paralegals help, they must list the hours and work they did for compensation purposes.

(a) As used in this section:

(1) “Incapacitated” means lack of capacity to serve as personal representative.

(2) “Legal representative” means the personal representative of a deceased personal representative or the conservator of the estate of an incapacitated personal representative.

(b) If a personal representative dies or becomes incapacitated and a legal representative is appointed for the deceased or incapacitated personal representative, the legal representative shall not later than 60 days after appointment, unless the court extends the time, file an account of the administration of the deceased or incapacitated personal representative.

(c) If a personal representative dies or becomes incapacitated and no legal representative is appointed for the deceased or incapacitated personal representative, or if the personal representative absconds, the court may compel the attorney for the deceased, incapacitated, or absconding personal representative or attorney of record in the estate proceeding to file an account of the administration of the deceased, incapacitated, or absconding personal representative.

(d) The legal representative or attorney shall exercise reasonable diligence in preparing an account under this section. Verification of the account may be made on information and belief. The court shall settle the account as in other cases. The court shall allow reasonable compensation to the legal representative or the attorney for preparing the account. The amount allowed is a charge against the estate that was being administered by the deceased, incapacitated, or absconding personal representative. Legal services for which compensation shall be allowed to the attorney under this subdivision include those services rendered by any paralegal performing the services under the direction and supervision of an attorney. The petition or application for compensation shall set forth the hours spent and services performed by the paralegal.

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Section § 10954

This law explains when a personal representative managing someone's estate doesn't have to file a detailed account. If everyone getting something from the estate agrees in writing that their share has been handled, the representative can skip this step. They also don't need to file if arrangements are made that cover everyone’s share, except for certain beneficiaries who might be affected by changes in estate value or leftover liabilities. The law outlines who can sign these waivers, ranging from competent adults to trustees and guardians, depending on the situation. Even if waivers are accepted, a final report must still be submitted to show fees paid to the representative and their attorney. Creditors who haven't been paid can still request an account if they need it.

(a) Notwithstanding any other provision of this part, the personal representative is not required to file an account if any of the following conditions is satisfied as to each person entitled to distribution from the estate:

(1) The person has executed and filed a written waiver of account or a written acknowledgment that the person’s interest has been satisfied.

(2) Adequate provision has been made for satisfaction in full of the person’s interest. This paragraph does not apply to a residuary devisee or a devisee whose interest in the estate is subject to abatement, payment of expenses, or accrual of interest or income.

(b) A waiver or acknowledgment under subdivision (a) shall be executed as follows:

(1) If the person entitled to distribution is an adult and competent, by that person.

(2) If the person entitled to distribution is a minor, by a person authorized to receive money or property belonging to the minor. If the waiver or acknowledgment is executed by a guardian of the estate of the minor, the waiver or acknowledgment may be executed without the need to obtain approval of the court in which the guardianship proceeding is pending.

(3) If the person entitled to distribution is a conservatee, by the conservator of the estate of the conservatee. The waiver or acknowledgment may be executed without the need to obtain approval of the court in which the conservatorship proceeding is pending.

(4) If the person entitled to distribution is a trust, by the trustee, but only if the named trustee’s written acceptance of the trust is filed with the court. In the case of a trust that is subject to the continuing jurisdiction of the court pursuant to Chapter 4 (commencing with Section 17300) of Part 5 of Division 9, the waiver or acknowledgment may be executed without the need to obtain approval of the court.

(5) If the person entitled to distribution is an estate, by the personal representative of the estate. The waiver or acknowledgment may be executed without the need to obtain approval of the court in which the estate is being administered.

(6) If the person entitled to distribution is incapacitated, is an unborn beneficiary, is unascertained, or is a person whose identity or address is unknown, or is a designated class of persons who are not ascertained or are not in being, and there is a guardian ad litem appointed to represent the person entitled to distribution, by the guardian ad litem.

(7) If the person entitled to distribution has designated an attorney in fact who has the power under the power of attorney to execute the waiver or acknowledgment, by either of the following:

(A) The person entitled to distribution if an adult and competent.

(B) The attorney in fact.

(1) The personal representative shall file a final report of administration at the time the final account would otherwise have been required. The final report shall include the amount of compensation paid or payable to the personal representative and to the attorney for the personal representative and shall set forth the basis for determining the amounts.

(2) A creditor whose interest has not been satisfied may petition under Section 10950 for an account.

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