Who must file accountings in Tennessee?

When someone is appointed to handle a decedent’s estate (personal representative, executor, or administrator) or to manage another person’s affairs (guardian or conservator), the court commonly requires periodic accountings and a final accounting before discharge. Probate courts use accountings to confirm the fiduciary’s handling of assets, income, expenses, taxes, claims, and distributions.

Core elements required in annual and final accountings

Although local courts may adopt forms and small variations, the following statements and documents are typically required for both annual (periodic) accountings and the final accounting in a Tennessee probate matter:

• Verified Cover Statement / Petition for Accounting: A sworn or notarized statement signed by the fiduciary (under oath) identifying the accounting period and asking the court to approve the accounting or to enter final settlement.
• Inventory & Appraisement (if not already filed): A list of estate assets and their values at the date of death or at the time of appointment. If previously filed, the accounting should refer to that inventory and note any changes.
• Schedule of Receipts (Income and Proceeds): An itemized list of all money received during the accounting period, such as:
• Bank interest, dividends, rents, pension or Social Security receipts
• Proceeds from sale of estate real or personal property (with closing statements)
• Insurance proceeds, refunds, or other receipts
• Schedule of Disbursements (Expenses and Payments): An itemized list of all payments made during the accounting period, including:
• Administration expenses (advertising for creditors, bond premiums, court fees)
• Attorney fees and fiduciary commissions (with invoices or fee petitions)
• Payments to creditors, funeral and burial costs, taxes (income and estate), maintenance of property, and repairs
• Distributions to beneficiaries or transfers to trust
• Reconciliation / Statement of Account Balance: A beginning balance, total receipts, total disbursements, and ending balance for the accounting period, with bank account and investment reconciliations demonstrating how the ending balance was reached.
• Supporting Documents / Proof: Attach or be ready to produce supporting evidence for material items, such as:
• Bank statements and canceled checks
• Receipts and paid invoices
• Real estate closing statements and deeds
• Sale contracts or bills of sale
• Appraisals for valuable personal property or real estate
• Proof of payments to creditors (creditor releases, canceled checks)
• Tax returns filed for the estate
• Claims and Notice Information: A statement describing filed creditor claims and how they were handled (paid, rejected, or pending), including dates statutory notices were given if applicable.
• Fee and Commission Computation: If the fiduciary or their attorney is claiming statutory commissions or requesting allowance of fees, include the computation or fee petition and supporting invoices or time records.
• Proposed Final Distribution & Closing Documents (final accounting only): A proposed distribution schedule showing who will receive assets and in what amounts, together with a proposed order of distribution and a petition to close the estate. Include receipts or releases from beneficiaries if available.
• Consents or Waivers (if applicable): Signed releases or waivers from beneficiaries or creditors (these can speed final approval and reduce court scrutiny).

Format and local practice

Tennessee probate courts vary by county. Many courts provide or require specific accounting forms or captions. Check the local probate court clerk’s office or the Tennessee courts website for required forms and procedural rules. Courts commonly require accountings to be sworn, itemized, and supported with bank statements and receipts.

For statutory guidance and to locate the relevant probate statutes in Tennessee law, review Tennessee Code Annotated (Title 30 — Probate) and local probate rules at the Tennessee General Assembly and Tennessee Courts websites:

• Tennessee Code and statutes (capitol.tn.gov)
• Tennessee Courts (tncourts.gov) — probate court information and links to local court resources

Timelines, obligations, and consequences

Accountings are often due on a schedule set by the court—commonly annually for guardianships or when the court orders periodic accountings in estates. A final accounting is due before the court closes the estate. Failure to file required accountings can expose the fiduciary to removal, surcharge (personal liability for losses or improper payments), and denial of fee allowance. If a beneficiary or creditor objects, the court may require evidentiary proof.

Practical checklist for preparing an accounting

1. Gather all bank and investment statements covering the accounting period.
2. Assemble canceled checks, receipts, invoices, closing statements, appraisals, and tax returns.
3. Prepare an itemized ledger showing each receipt and disbursement with dates and payees.
4. Reconcile ledger totals to account balances shown on bank statements.
5. Prepare a sworn cover statement or petition asking the court to approve the accounting or enter final settlement.
6. Attach or be ready to present supporting documents for material transactions.
7. If claiming fees or commissions, prepare a fee petition with justification and supporting billing records.
8. File the accounting with the probate clerk and serve required parties (beneficiaries and creditors) as the court requires.

When to consult a lawyer

Consider hiring an attorney if the estate involves:

• Complex assets (closely-held business interests, retirement accounts with tax issues, significant real estate)
• Disputed creditor claims or beneficiary objections
• Potential fiduciary liability or tax exposure
• Unclear records or suspected estate asset loss

Helpful Hints

• Keep contemporaneous records: maintain a running ledger from day one to make accountings easier and more credible.
• Use bank statements and canceled checks as primary proof for most transactions.
• Obtain professional appraisals for high‑value items rather than relying on rough estimates.
• File interim accountings on time if the court orders them; missing deadlines can create personal exposure.
• Obtain beneficiary receipts or written releases when making final distributions to reduce later disputes.
• If you request fees, be prepared to justify them with time records, invoices, and evidence of results produced for the estate.
• Check your county probate court website or call the clerk for required forms and local filing procedures before you file.