Accounting And Affidavit Of Accounting Party

There are all sorts of forms executors, beneficiaries, and probate court clerks have to fill out and correspond with during probate and estate settlement, including affidavits, letters, petitions, summons, orders, and notices.

Accounting And Affidavit Of Accounting Party is a commonly used form within New York. Here’s an overview of what the form is and means, including a breakdown of the situations when (or why) you may need to use it:

Atticus Fast Facts About Accounting And Affidavit Of Accounting Party

Sometimes it’s tough to find a quick summary— here’s the important details you should know about Accounting And Affidavit Of Accounting Party:

• This form pertains to the State of New York

• The current version of this form was last revised on January 1, 1970

Government forms are not typically updated often, though when they are, it often happens rather quietly. While Atticus works hard to keep this information about New York’s Form JA-7 - Accounting And Affidavit Of Accounting Party up to date, certain details can change from time-to-time with little or no communication.

Step 1 - Download the correct New York form based on the name and ID if applicable

Double check that you have both the correct form name and the correct form ID. Some New York probate forms can look remarkably similar, so it’s best to double, even triple-check that you’re using the right one! Keep in mind that not all States have a standardized Form ID system for their probate forms.

Step 2 - Complete the Document

Fill out all relevant fields in Form JA-7, take a break, and then review. Probate and estate settlement processes in NY are long enough to begin with, and making a silly error can push your timeline even farther back. No thank you!

Note: If you don’t currently know all of the answers and are accessing Form JA-7 online, be sure to avoid closing the browser tab and potentially losing all your progress (or use a platform like Atticus to help avoid making mistakes).

Step 3 - Have Form JA-7 witnessed or notarized (if required)

Some States and situations require particular forms to be notarized. If you have been instructed to get the document notarized or see it in writing on the document, then make sure to hire a local notary. There are max notary fees in the United States that are defined and set by local law. Take a look at our full guide to notary fees to make sure you aren’t overpaying or getting ripped off.

Step 4 - Submit Accounting And Affidavit Of Accounting Party to the relevant office

This is most often the local probate court where the decedent (person who passed away) is domiciled (permanently resides) or the institution involved with this particular form (e.g. a bank). Some offices allow you to submit forms online, other’s don’t, and we while we generally recommend going in-person to expedite the process, sometimes that simply isn’t an option.

It’s also a generally good idea to establish a positive working relationship with any probate clerk (unfortunately there’s enough people & process out there making things more difficult and unnecessarily confusing for them), so a best practice is to simply ask the probate clerk proactively exactly how and where they’d prefer you to submit all forms.

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Different probate forms or processes can require different deadlines or response times for completing the appropriate form.

While some steps in the process are bound to specific deadlines (like petitioning for probate, having to submit an inventory of assets, or filing applicable notices to creditors and beneficiaries), many probate forms or processes are not tied to a specific deadline since the scope of work can vary based on situational factors or requirements involved.

Either way, there are a bunch of practical reasons why personal representatives should work to complete each step as thoroughly and quickly as possible when completing probate in New York.

5 reasons you should submit JA-7 as quickly as possible:

1. The sooner you begin, the faster New York can allow heirs and beneficiaries to get their share of assets subject to probate. Acting promptly can also decrease the costs & overall mental fatigue through an otherwise burdensome process.
   
   Helpful Context: What’s the Difference Between Probate and Non-Probate Assets?

2. In general, creditors of an estate usually have around 3-6 months from the time you file notice to creditors to file any claims for debt against the deceased’s assets. If they don’t, then that debt is forfeited (and more importantly, the executor won’t be held personally responsible). So doing this sooner means you have a better idea of who is owed what and ensures you won’t get a surprise collector months later.

3. Not filing a will within 30 days (on average) could mean that the probate process proceeds according to intestate laws (laws that govern what happens to someone's stuff without a will) or is subject to unnecessary supervision by the probate court. And if you aren't directly related to the deceased (a.k.a. next of kin), this could also mean you lose your inheritance.

4. It’s important to file any necessary state tax returns on behalf of the deceased or estate by the following tax season in New York. If you don’t, you could owe penalties and interest. This also includes any necessary federal tax returns such as Forms 1040, 1041, or even a Form 706 estate tax return.

5. If a house in the State of New York is left empty (or abandoned) for a while, insurance can get dicey. For example, if the house burns down and no one has been there for a year, an insurance company may get out of paying your claim.

If you’re not using Atticus to get specific forms, deadlines, and timelines for New York probate, then try and stay as organized as possible, pay close attention to the dates mentioned in any correspondence you have with the State’s government officials, call the local New York probate clerk or court for exact answers regarding Form JA-7, and when in doubt— consult a qualified trust & estates lawyer for that area.

Accounting And Affidavit Of Accounting Party is one of the many probate court forms available for download through Atticus.

It may also be available through some New York probate court sites, such as . In order to access the latest version, be updated with any revisions, and get full instructions on how to complete each form, check out the Atticus Probate & Estate Settlement software or consider hiring a qualified legal expert locally within New York.

While Atticus automatically provides the latest forms, be sure to choose the correct version of Form JA-7 - Accounting And Affidavit Of Accounting Party f using any other site or resource in order to avoid having to re-complete the form process and/or make another trip to the New York probate court office.

Accounting And Affidavit Of Accounting Party is a .pdf, so opening it should be as simple as clicking “View Form” from within the Atticus app or by clicking the appropriate link found on any New York-provided government platform. Once you’ve opened the form, you should be able to directly edit the form before saving or printing.

Here’s the text, verbatim, that is found on New York Form JA-7 - Accounting And Affidavit Of Accounting Party. You can use this to get an idea of the context of the form and what type of information is needed.

SURROGATE’S COURT OF THE STATE OF NEW YORK COUNTY OF ___________________________________ -----------------------------------------------------------------------------X ACCOUNTING BY _______________________________ ACCOUNTING BY: as the _________________________________________ [ ] Executor [ ] Administrator of the ESTATE OF _______________________________ [ ] Other [specify] a/k/a __________________________________________ File No. _________________ Deceased. ----------------------------------------------------------------------------X TO THE SURROGATE’S COURT OF THE COUNTY OF _____________________ The undersigned does hereby render the account of proceedings as follows: Period of account from to . This is a (final) (intermediate) account. [The instructions concerning the schedules need not be stated at the head of each schedule. It will be sufficient to set forth only the schedule letter and heading. For convenience of reference, the schedule letter and page number of the schedule should be shown at the bottom of each sheet of the account.] Schedule A - Principal Received, page ______ Schedule A - 1 - Realized Increases, page ______ Schedule A - 2 - Income Collected, page ______ Schedule B - Realized Decreases, page ______ Schedule C - Funeral and Administration Expenses and Taxes, page ______ Schedule C - 1 - Unpaid Administration Expenses, page ______ Schedule D - Creditor’s Claims, page______ Schedule E - Distributions Made, page _ Schedule F - New Investments, Exchanges and Stock Distribution, page ______ Schedule G - Personal Property Remaining on Hand, page _ Schedule H - Interested Parties and Proposed Distribution, page ______ Schedule I - Computation of Commissions, page ______ Schedule J - Other Pertinent Facts and Cash Reconciliation, page ______ Schedule K - Estate Taxes Paid and Allocation of Estate Taxes, page ______ JA-7 (6/98) SUMMARY CHARGES: Schedule “A” -(Principal received)$ _______________________ Schedule “A - 1” -(Realized increases in principal)$ ________________________ Schedule “A - 2 -(Income Collected)$ ________________________ Total Charges $ __________________ CREDITS: Schedule “B” -(Realized decreases in principal)$ ________________________ Schedule “C” -(Funeral and administration expenses$ ________________________ Schedule “D -(Creditor’s claims actually paid)$ _________________________ Schedule “E” -(Distributions of principal)$ ________________________ Total Charges $ ____________________ Balance on hand shown by Schedule “G” $ _____________________ The foregoing balance of $ consists of $ in cash and $ in other property on hand as of the day o f , 20 . It is subject to deduction of estimated principal commissions amounting to $ as shown in Schedule I and to the proper charge to principal of expenses of this accounting. The a ttached schedules are part of this account. ________________________________________ (Name of Corporate Fiduciary) ___________________________________________ (Signature of Fiduciary) ____________________________________________ (Signature of Officer) ____________________________________________ (Signature of Fiduciary) AFFIDAVIT OF ACCOUNTING PARTY STATE OF NEW YORK ) COUNTY OF ) ss.: being duly sworn, says: that the schedules of assets of the estate reported herein are true and complete and include all money and property of any kind, and all increment thereon, which have come into the hands of any of the accounting parties or have been received by any other persons for the use of any accounting party by order of authority of such accounting party, and include all indebtedness due by any accounting party to the estate whether discharged or not; that the moneys stated in the account as collected were all that could be collected; that all claims for credit for losses or decreases of value of assets are correctly reported; that the reported payments out of estate assets for funeral and administration expenses were actually made and made in the amounts scheduled; that the reported payments to creditors and beneficiaries were actually made at the dates and in the amounts scheduled; that no payments have been made by any accounting party on any fiduciary’s claims against the estate except after prior approval and allowance by the Surrogate; that all receipts and disbursements are correctly and fully reported and scheduled; that the accounting parties do not know of any error in the account or in any schedule thereof or of any matter or thing relating to the estate omitted therefrom to the prejudice of rights of any creditor or of any person interested in the estate; and that the schedule of commissions has been computed in conformity with the statute regulating commissions and the Rules of the Surrogate’s Court applicable thereto. Sworn to before me on , 20 _____ ____________________________________ Notary Public Commission Expires: ______________ (Affix Notary Stamp or Seal) ________________________________ Signature __________________________________________ Print Name Name of Attorney: ____________________________________________ Tel. No.: ______________________ Address of Attorney: __________________________________________