After the Inheritance

Here's my question. After inheriting money, is it a common procedure to have to send a ledger to my attorney specifying where every nickel went to that I spent? Also is it common for me to provide copies of deposit slips when depositing the inheritance???

If you are the Executor or Administrator, and not the sole beneficiary, the answer is that you have to keep track of the estate's money as it is not "your" money. The records often are needed for periodic and final filings with the court known as an "accounting" to close the estate and let you off the hook for possible claims by other beneficiaries and tax authorities.


yes. If