Gather statements proving payments and/or up-to-date account balance statement

You may need a bank/credit card statement showing that the account has no outstanding balance.

Keep records of account balances and gather all final statements showing the status of any accounts you will close.

For any accounts that will remain open, keep regular statements in your files.

Guides_Icon.svgRead More For more information, review “Keep accurate records of all estate bills, debts, taxes and other expenses” section of the Guide.

Helpful Tips

Download a spreadsheet or create one yourself to record all bills and debt paid, deposits received, and assets that have been transferred to beneficiaries.

You will need this information during the legal probate process. Accurate record-keeping may also protect the executor or administrator against claims of wrongdoing by heirs and beneficiaries of the deceased.

Keep records of:

  • All real and personal property owned by the deceased, individually. Include a description of the property, value of the asset, and how the value was determined
  • All bills, debts, and taxes owed by the deceased, including whether the debt was secured or unsecured, its amount, to whom it is owed, and for what purpose the debt was incurred

An example spreadsheet can look like:

Asset Description 2013 Honda Accord

Value $8,000

How Value Was Determined Kelly Blue Book

Bill Description Mortgage

Secured? Yes

Amount Owed $35,000

Creditor PNC Bank

Purpose of Debt Personal Residence

Providers to Contact

Probate Attorneys Near You

Probate attorneys can help ensure you’re keeping adequate records of financial transactions for the estate. They help settle a deceased person’s estate.

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