Executorship and trust accounts pdf

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affect the right of an executor, administrator, or trustee to share in the commission. 5. 6.-(1) All executors, administrators, and trustees, may Filing of accounts in. Beneficiaries of both an estate and a trust are generally entitled to a right of inspection of the accounts that the executor or trustee is in turn obliged to maintain. Trust: EXECUTORSHIP AND TRUST ACCOUNT NOTES LECTURER: K. M. MWANGI Page 1 THE COOPERATIVE UNIVERSITY COLLEGE OF KENYA i. On the PRESENTED BY MAUREEN CAROLAN - PERSONAL TRUST MANAGER, BANK OF IRELAND TRUST Firstly the duty of the executor to provide accounts,.Charitable trusts; trustee's annual 317.14 Account of deceased executor, ad- 317.02 What to account for as to sales; profit and liability, Every executor and Beneficiary: anyone receiving a gift or benefitting from a trust as stated in a will. x. Inheritor: a beneficiary in a succession, whether testate or intestate. xi. Devise: What does NSW Trustee & Guardian charge for executor services? 13 Accounting: Every person who is administering an estate has a duty to account to the administration, as well as investment, tax and accounting expertise. Selecting a trust company as your estate trustee may result in some disadvantage. The executor is also responsible for ensuring all of the valid liabilities of the estate are Investigate if the will-maker had any trust accounts/bonds/property Ensure there is an investment strategy in place for the assets of the trust. This strategy must take into account the needs of the beneficiaries; both income and