Table of Contents
- Key Takeaways: Riverside Probate Accounting
- What Is a Probate Accounting in California?
- Schedules Included in a Riverside Probate Accounting
- Why Probate Accounting Matters for Beneficiaries
- Related Resources
- FAQ
- How The Grossman Law Firm Can Help
Key Takeaways
- California law requires executors and administrators to provide beneficiaries with detailed accountings of their probate estates.
- The court breaks probate accountings into schedules that show receipts, disbursements, income, losses, and property held.
- Beneficiaries can review these schedules to ensure the executor or trustee is administering the estate properly.
- The Grossman Law Firm assists heirs and beneficiaries in Riverside and throughout California in understanding and enforcing their rights during probate accountings.
What Is a Probate Accounting in California?
Probate accountings can be overwhelming, even for people with a financial background. Under the California Probate Code, executors and administrators are required to file accountings that demonstrate how estate or trust property has been managed.
If you are a beneficiary or heir, you are entitled to receive a copy of these accountings. Reviewing them helps ensure transparency and accountability in the administration process.
At The Grossman Law Firm, Attorney Scott Grossman regularly assists heirs and beneficiaries in Riverside and across California with reviewing and challenging probate accountings.
Schedules Included in a Riverside Probate Accounting
A California probate accounting is organized into schedules. These schedules are designed to break down every financial aspect of the estate or trust.
The main schedules include:
- Schedule of Receipts: Lists each item received, its source, and the date.
- Schedule of Disbursements: This document shows expenses paid by the estate, including the names of payees and the corresponding dates.
- Schedule of Net Income or Losses from a Business: Records profits or losses from business operations.
- Schedule of Gains or Losses: Tracks the sale of estate or trust property.
- Schedule of Property on Hand: An itemized inventory of assets still held by the estate or trust, including values.
These schedules allow beneficiaries to see precisely how estate property has been collected, managed, and distributed.
Why Probate Accounting Matters for Beneficiaries
Probate accountings are not just formalities — they protect beneficiaries. Reviewing schedules allows you to confirm:
- The court requires the executor to identify and value the assets.
- Disbursements are legitimate estate expenses.
- Distributions match the will’s instructions.
- No mismanagement or misappropriation has occurred.
If something seems wrong in the schedules, beneficiaries have the right to object to the probate accounting in court. The probate judge can then review the executor’s actions and hold them accountable for any misconduct.
Related Resources
- Overview of the California Probate Process
- Tips for Determining the Damages for a Breach of Fiduciary Duties
- Know What You’re Getting Into: The Timeline of a Trust and Estate Lawsuit
- Can’t Afford a Probate or Trust Attorney?
FAQ: Riverside Probate Accounting
Q: How often must an executor file a probate accounting in California?
A: Executors must file an initial accounting within one year and continue filing periodic accountings until they complete the administration.
Q: Can beneficiaries challenge a California or Riverside probate accounting?
A: Yes. Beneficiaries can file objections if they believe an accounting is inaccurate, incomplete, or shows signs of mismanagement.
Q: What happens if an executor fails to provide a probate accounting?
A: Beneficiaries can petition the court to compel an accounting. Failure to provide one may result in the removal of the executor.
Q: Are probate accounting schedules the same in every county?
A: Yes. California Probate Code governs the content of accountings. However, local court procedures (such as in Riverside County) may add filing requirements.
How The Grossman Law Firm Can Help
At The Grossman Law Firm, we assist beneficiaries and heirs throughout California in enforcing their rights in probate and trust litigation. If you have received a Riverside probate accounting and don’t understand the schedules — or suspect mismanagement — we can review the documents and advise you on your legal options.
Call (888) 443-6590 or fill out our Get Help Now form today.
Our Intake Specialists can evaluate your case at no cost to you to assess your situation. Qualifying cases will be scheduled for a Free Phone Consultation with Attorney Scott Grossman.