Final Accounting in Probate: The Charge-and-Discharge Statement

At the end of administration the executor owes the court a final accounting: what came into the estate, what went out, and what remains. Most US courts expect it in a charge-and-discharge structure — the same shape for CA, NY and the states that accept a standard form.

The two columns every court looks for

TOTAL CHARGES must equal TOTAL CREDITS. Every dollar that came in is accounted for by a payment, a distribution, or an asset still held. When the two totals do not match, the difference tells you exactly what record is missing.

The three schedules attached to it

1. Schedule of Receipts — each receipt: date, amount, source, description
2. Schedule of Disbursements — each payment: date, payee, purpose, amount
3. Schedule of Distributions — what went to each beneficiary, when

Disbursements generally need voucher support: cancelled checks or receipts. That is the part accountants call "tie-out", and it happens outside any software — the tool just keeps your ledger clean enough to tie out.

Sales: where gains and losses come from

When an inventoried asset sells, proceeds minus its date-of-death value is a gain (or loss) on sale — and the proceeds become estate cash. Recording the sale as ordinary income would double-count it; the correct pattern is one cash receipt plus a gain/loss line, which is how the Estate Ledger records it.

What this tool does — and does not

The Estate Ledger organizes the records and assembles a balanced statement you can hand your attorney or the court. Some courts mandate their own form or require the account to be sworn before a notary or the clerk — that filing step stays yours. This is an organizing tool, not legal advice.

Estate Ledger is an educational organizing tool — not legal advice. Court filing formats vary; confirm your court's requirements. Content checked 2026-10-17.