Estate accounts explained

Last reviewed 18 August 2026

An executor is a steward of other people’s money, and stewardship demands a reckoning — a clear account of everything that came in, went out, and was passed on.

What estate accounts contain

Estate accounts set out the whole financial story of the administration: the assets and their date-of-death values, the debts and expenses paid (funeral, tax, the £526 fee, professional charges), any income received during the administration, and the final distribution to beneficiaries. They show that the estate has been settled correctly and in full.

Who can see them

Residuary beneficiaries — those entitled to what is left after gifts and debts — are generally entitled to see the estate accounts, and it is good practice for the executor to have them approved before final distribution. Keeping clear records from the outset protects the executor, who can be personally liable for mistakes, as much as it reassures the beneficiaries.

Sources. GOV.UK, Responsibilities of an executor; general law on estate accounts and beneficiaries’ entitlements.