Tex.
Est. Code Section 359.001
Account of Estate Required
(a)
Not later than the 60th day after the first anniversary of the date a personal representative qualifies and receives letters testamentary or of administration to administer a decedent’s estate under court order, unless the court authorizes an extension, the representative shall file with the court an account consisting of a written exhibit made under oath that lists all claims against the estate presented to the representative during the 12-month period following the representative’s qualification and receipt of letters. The exhibit must specify:(1)
the claims allowed by the representative;(2)
the claims paid by the representative;(3)
the claims rejected by the representative and the date the claims were rejected; and(4)
the claims for which a lawsuit has been filed and the status of that lawsuit.(b)
The account must:(1)
show all property that has come to the personal representative’s knowledge or into the representative’s possession that was not previously listed or inventoried as estate property;(2)
show any changes in estate property that have not been previously reported;(3)
provide a complete account of receipts and disbursements for the period covered by the account, including the source and nature of the receipts and disbursements, with separate listings for principal and income receipts;(4)
provide a complete, accurate, and detailed description of:(A)
the property being administered;(B)
the condition of the property and the use being made of the property; and(C)
if rented, the terms on which and the price for which the property was rented;(5)
show the cash balance on hand and the name and location of the depository where the balance is kept;(6)
show any other cash held in a savings account or other manner that was deposited subject to court order and the name and location of the depository for that cash;(7)
provide a detailed description of the personal property of the estate that shows how and where the property is held for safekeeping;(8)
provide a statement that during the period covered by the account all tax returns due have been filed and all taxes due and owing have been paid, including:(A)
a complete account of the amount of the taxes;(B)
the date the taxes were paid; and(C)
the governmental entity to which the taxes were paid;(9)
if on the filing of the account a tax return due to be filed or any taxes due to be paid are delinquent, provide the reasons for, and include a description of, the delinquency; and(10)
provide a statement that the representative has paid all the required bond premiums for the accounting period.(c)
For bonds, notes, and other securities, the description required by Subsection (b)(7) must include:(1)
the names of the obligor and obligee or, if payable to bearer, a statement that the bond, note, or other security is payable to bearer;(2)
the date of issue and maturity;(3)
the interest rate;(4)
the serial number or other identifying numbers;(5)
the manner in which the property is secured; and(6)
other information necessary to fully identify the bond, note, or other security.
Source:
Section 359.001 — Account of Estate Required, https://statutes.capitol.texas.gov/Docs/ES/htm/ES.359.htm#359.001 (accessed May 11, 2024).
