Judicial Settlement Of Accounting Proceeding Checklist

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.

Judicial Settlement Of Accounting Proceeding Checklist 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 Judicial Settlement Of Accounting Proceeding Checklist

Sometimes it’s tough to find a quick summary— here’s the important details you should know about Judicial Settlement Of Accounting Proceeding Checklist:

• This form pertains to the State of New York

• The current version of this form was last revised on August 9, 2004

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 Judicial Settlement Of Accounting Proceeding Checklist 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 Judicial Settlement Of Accounting Proceeding Checklist, 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 Judicial Settlement Of Accounting Proceeding Checklist 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 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 Judicial Settlement Of Accounting Proceeding Checklist 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 this form 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 Judicial Settlement Of Accounting Proceeding Checklist, and when in doubt— consult a qualified trust & estates lawyer for that area.

Judicial Settlement Of Accounting Proceeding Checklist 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 Judicial Settlement Of Accounting Proceeding Checklist 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.

Judicial Settlement Of Accounting Proceeding Checklist 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 Judicial Settlement Of Accounting Proceeding Checklist. You can use this to get an idea of the context of the form and what type of information is needed.

JUD-ACTG-CHK release 8/9/04 Page 1 This Checklist is provided for your convenience while completing the petition and the checklist should not be returned to the Court. Judicial Settlement of Account Proceeding Checklist (see Surrogate’s Court Form JA-1, rev. 12/96) Fill in All Areas On All Pages - Also Mark When Not Applicable When Necessary Strike Any Paragraphs/Sections Which Do Not Apply Check All Forms To Make Sure Venue Is Correct - Appropriate County Is Listed PET ¶ # DESCRIPTIONYESNO Does this Surrogate’s Court have jurisdiction over the proceeding? NOTE: If an action has been commenced in Supreme Court - proof of disposition of the matter must be provided: withdrawal, discontinuance, Supreme Court order transferring action/part of action, etc. Does the caption mirror the estate file name and appointee? Is the correct type of account checked? [and has the correct account form been used?] 1.Is the petitioner a proper party? [see SCPA §2208] Is the petitioner ...the appointed fiduciary the appointed guardian the appointed trustee a fiduciary of a deceased fiduciary [see SCPA §2207] Is the petitioner’s name, residence and mailing address listed? Is the type of letters and date of issuance listed? Is the amount of bond and name of surety listed, if applicable? Are additional petitioner’s information listed, if applicable? 2.Is the decedent’s name, date of death and domicile listed? 3.Are the dates which cover the account and gross sum of account listed? 4a.Has all tax information been listed? 4b.Has a tax return been filed? 4b.Was there no tax proceeding requirement for this estate? NOTE: Some courts may require a notice of appearance/waiver/consent form from the tax department (as an interested party) if a tax discharge letter is not on file. 5.Has seven months passed since letters were issued? Were letters issued to the petitioner(s) revoked? Has more than one year passed since a preceding account was filed? PET ¶ # DESCRIPTIONYESNO JUD-ACTG-CHK release 8/9/04 Page 2 6a.Are the names and mailing addresses of all interested parties listed? 6b.Are the names of any interested persons under a disability listed? NOTE: Interested parties may include but are not limited to the following: unpaid creditors or persons claiming to be creditors, surety of the bond, co-fiduciaries not joining in petition, successor fiduciary of petitioner removed or suspended, state attorney general [see EPTL §8-1.4], distributees, beneficiaries, legatees, devisees, trustees, trust beneficiaries, guardians, infants over the age of fourteen, fiduciaries of deceased beneficiaries or all distributees of deceased beneficiaries if fiduciary has not been appointed, guardian ad litems, chief fiscal officers/county treasurers. NOTE: A guardian ad litem may be appointed for any person listed in the petition as a person under disability. If the person under disability appears by a guardian of the property, committee, conservator or guaridan of the property pursuant to Article 81 of the Mental Hygiene Law whom the Court finds has no adverse interest, no guardian ad litem is necessary. 7.This paragraph states that there are no additional interested parties. 8.This paragraph states that there are no prior applications made in any court for the relief requested in this petition. Under WHEREFORE Clause: has all relief requested been checked and completed? Has any relief not applicable been struck out? Is petition dated, signed, verified, properly notarized (including proper jurat and expiration date of notary’s commission)? Is attorney’s name, address and phone number listed? Has Part 130 Certification been completed? if NOT , has a separate attorney certification as to Part 130 signing requirements been included? If forms are computer generated, has a certification pursuant to Court Rules §207.4 been attached? ACCOUNT FORMS - SCHEDULE REQUIREMENTS USE THE CORRECT ACCOUNT FORM [JA-4 or JA-7] AND MATCHING SUMMARY STATEMENT - Certain Accounts may not use all of the following schedules. List proper title of matter, correct accounting type, dates for period of account; page number where each schedule starts must be listed APRINCIPAL RECEIVED Itemized statement of all moneys and personal property constituting principal assets with their date of receipt or acquisition JUD-ACTG-CHK release 8/9/04 Page 3 Proceeds of sale of real property including a copy of the closing statement Do not include total amount of principal assets exchanged which would incorrectly inflate gross account total (such as stocks sold to buy other stocks, bank accounts transferred to other banks or alternate types of accounts, etc. - these are reported under Schedule B (if no loss/gain) or Schedule F A-1REALIZED INCREASES Actual increases due to sales, liquidation or distribution of principal assets Realized increases on new investments or exchanges Detail date increase was realized and identify property from which increase was derived A-2INCOME COLLECTED Report all Interest Report all Dividends Report all Rents Report any other income Each receipt must be separately accounted for and identified except where a security has been held for an entire year, then interest or ordinary dividends may be reported on a calendar year basis BREALIZED DECREASES Full and complete statement of all realized decreases on principal assets whether due to sale, liquidation, collection or distribution, or any other reason Show decreases on new investments or exchanges and also sales, liquidations or distributions that result in neither gain nor loss Show date of realization of each decrease and identify property from which decrease was incurred Report any asset which the fiduciary intends to abandon as worthless accompanied by a full statement of the reasons for abandoning it CFUNERAL AND ADMINISTRATION EXPENSES AND TAXES; FUNERAL AND ADMINISTRATION EXPENSES AND TAXES CHARGED TO PRINCIPAL Itemized statement of all moneys chargeable (to principal) and paid for funeral, administration and other necessary expenses, together with date and reason for each expenditure Consolidate similar expenditures (funeral expenses, taxes, accountant fees, legal fees, filing fees, commissions, other) Where will directs all inheritance and death taxes are to be paid out of the estate, credit for payment of the same should be taken in this schedule JUD-ACTG-CHK release 8/9/04 Page 4 C-1UNPAID ADMINISTRATION EXPENSES Itemized statement of all unpaid claims for administration and other necessary expenses Include a statement as to the basis of each claim C-2ADMINISTRATION EXPENSES CHARGEABLE TO INCOME Itemized statement of all moneys chargeable to income and paid for administration, maintenance and other expenses, together with date and reason for each such expenditure DCREDITOR’S CLAIMS - does not apply in trustee’s account List claims presented, allowed, paid and credited and appearing in the summary statement together with the date of payment List claims presented and allowed but not paid List claims presented but rejected and the date of and reason for such rejection List contingent and possible claims List personal claims requiring approval by the court pursuant to SCPA §1805 If estate is insolvent - preference of claims should be stated with the order of their priority EDISTRIBUTIONS OF PRINCIPAL; DISTRIBUTIONS MADE Itemized statement of all moneys paid and all property delivered (from principal) to beneficiaries, legatees, trustees, surviving spouse or distributees of the deceased, date of payment or delivery and name of the person to whom payment or delivery was actually made If estate taxes were required to be apportioned and payments have been made on account of the taxes, the amounts apportioned in Schedule K against beneficiaries of the estate shall be charged against the respective individuals share E-1DISTRIBUTIONS OF INCOME Itemized statement of all moneys paid and of property delivered out of income to the beneficiaries, the date of payment or delivery and the name of the person to whom payment or delivery was made Distributions of income to any one beneficiary may be reported by the calendar year FNEW INVESTMENTS, EXCHANGES AND STOCK DISTRIBUTIONS Itemized statement of all new investments with date of acquisition and cost of all property purchased Itemized statement of all exchanges made, specifying dates and items received and items surrendered JUD-ACTG-CHK release 8/9/04 Page 5 Itemized statement of all stock dividends, stock splits, rights and warrants received, showing securities to which each relates and their allocation as between principal and income GPRINCIPAL REMAINING ON HAND; PERSONAL PROPERTY REMAINING ON HAND Itemized statement showing all property constituting principal remaining on hand Statement of all uncollected receivables and property rights due the estate Show date and cost of all such property acquired by purchase, exchange or transfers made or received, together with date of acquisition and cost - indicate such sums in appropriate lines of the summary schedule Show all unrealized increases and decreases relating to assets on hand and report the same in the appropriate places in the summary schedule G-1INCOME REMAINING ON HAND Statement showing all undistributed income HINTERESTED PARTIES AND PROPOSED DISTRIBUTION List names of all persons/parties entitled as beneficiary, legatee, devisee, trustee, surviving spouse, distributee, unpaid creditor or otherwise to a share of the estate or fund with their post office addresses and the degree of relationship if any of each to the deceased and a statement showing the nature of the value or approximate value of the interest of each person/party Enclose statement that court records have been searched for powers of attorney and assignments and encumbrances made and executed by any of the persons interested in or entitled to a share of the estate Enclose a list detailing each power of attorney, assignment and incumbrance, disclosed by such search, with the date of its recording and the name and address of each attorney in fact of each assignee and of each person beneficially interested under the encumbrance referred to in the respective instruments Enclose statement as to whether accounting party has any knowledge of the execution of any such power of attorney or assignment not so filed and recorded ICOMPUTATION OF COMMISSIONS Compute the amount of commissions due upon this account pursuant to SCPA §2307 Specifically bequeathed property or very specific legacies can not be included in commission computations JUD-ACTG-CHK release 8/9/04 Page 6 JOTHER PERTINENT FACTS AND CASH RECONCILIATION State all other pertinent facts affecting the administration of the estate and the rights of those interested therein Include statement of any real property left by the decedent that it is not necessary to include as an estate asset to be accounted for, a brief description thereof, its gross value, and the amount of mortgages or liens thereon at the date of death of the deceased Include a cash reconciliation in this schedule so that verification with bank statements and cash on hand may be readily made KESTATE TAXES PAID AND ALLOCATION OF ESTATE TAXES State all estate taxes assessed and paid with respect to any property required to be included in the gross estate under the provisions of the Tax Law or under the laws of the United States Include a computation setting forth the proposed allocation of taxes paid and to be paid and the amounts due the estate from each person in whose behalf a tax payment has been made, and also the proportionate amount of the tax paid by each of the named persons interested in this estate or charged against their respective interest, as provided in EPTL §2-1.8 Where an allocation of taxes is required, the method of computing the allocation of said taxes must be shown in this schedule FEE SCHEDULE SCPA/EPTL§ or Rule # Has the proper fee been included with the petition? Filing fee is according to the following schedule based upon the gross value of the principal (and income) - see SCPA §2402(5) 0 but under 10,000$ 45.00 10,000 but under 20,00075.00 20,000 but under 50,000215.00 50,000 but under 100,000280.00 100,000 but under 250,000420.00 250,000 but under 500,000625.00 500,000 and over1,250.00 2402 COMMENTS AND COURT NOTES Form Number SCPA/EPTL§ or Rule # When Permitted Whenever the interests of an estate require judicial approval of an account of the estate proceeding. 2208 COMMENTS AND COURT NOTES Form Number SCPA/EPTL§ or Rule # JUD-ACTG-CHK release 8/9/04 Page 7 Forms Always Required •Petition for Judicial Settlement of Account •Trust Accounting or •Non-trust Accounting •Proposed Decree Forms or Documents Sometimes Required •Copies of Will, Codicils, Trust Agreements •Receipt and Release •Waiver of Citation and Consent in Accounting •Citation •Waiver and Consent from State Attorney General •Waiver and Consent from State Tax Department •Copy of Supreme Court Orders •Affidavit of Service (Personal/Mail/Publication) •Tax Discharge of Liability Letter Account forms must include a summary statement and an affidavit of the accounting party. Waivers and consents must recite fact that party received a summary statement of the account. Any party is entitled to request a complete copy of the account from the petitioner. Make sure all waivers and consents from interested parties are on the official form including all necessary wherefore clauses from petition. Proposed Citation must include all relief requested in petition wherefore clauses. Proofs of Service of Citation must be filed with the Court at least two (2) working days before the return date. Guardian Ad Litem will be appointed for interested parties under a disability. Guardian ad litem will be appointed on or before the return day of process for all unknowns and persons under disability (SCPA §403). Documents signed by Power of Attorney - provide certified copy of POA and comply with Section 13-2.3 EPTL and 207.48 Uniform Rules. Check to be certain all documents are properly acknowledged. THIS MATERIAL IS PROVIDED FOR INFORMATIONAL/TRAINING PURPOSES ONLY. – It is intended for use in conjunction with review of the applicable statutes and rules of the Surrogate’s Court and the Surrogate’s Court Operations Manual.