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Maine Probate Accounting
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Maine Probate Accounting

Maine probate accounting: the 3-month inventory (18-C section 3-706), the written account to beneficiaries, and the sworn closing statement (section 3-1003).

By Settled Editorial

Maine probate accounting is lighter than many people expect. Maine follows the Uniform Probate Code as Title 18-C, so an informal estate files no routine court accountings. The personal representative files one inventory within 3 months of appointment, keeps orderly financial records, gives the affected beneficiaries a written account, then closes the estate with a sworn closing statement. This guide walks through each of those duties, the deadlines that govern them, and how the picture changes if the estate goes into supervised administration.

What "Accounting" Means in a Maine Estate

In many states a personal representative files periodic accounts that a judge reviews and approves. Maine works differently for the common path. An informal estate answers to the beneficiaries and creditors, not to a probate judge reviewing line items. So the accounting duty in Maine breaks into four practical parts:

  • The inventory you file or mail within 3 months (18-C M.R.S. section 3-706)
  • The records you keep of every dollar that comes in and goes out
  • The written account you furnish to the beneficiaries whose interests are affected
  • The sworn closing statement that ends the administration (section 3-1003)

The one setting that looks like a traditional court accounting is supervised administration, covered near the end of this guide. There, a judge oversees the estate and no distribution happens without a court order. Most Maine estates never reach that point.

Think of the whole job as a clean paper trail. You show what the estate held, what it collected, what it paid, what it distributed, and what remained. If those numbers reconcile and the beneficiaries have seen them, an informal Maine estate closes without a hearing.

The Inventory: Your First Accounting Duty

The inventory is the foundation of every later accounting figure, and it carries a hard deadline.

Under 18-C M.R.S. section 3-706, within 3 months after appointment the personal representative prepares an inventory of the property the decedent owned at the time of death. The statute sets three points you cannot skip:

  • List each item of property the decedent owned at death
  • Show fair market value as of the date of death, not the value on the day you write the inventory
  • Indicate the type and amount of any encumbrance, such as a mortgage or lien, on any item

The same section calls for a schedule of the decedent's credits, meaning debts owed to the decedent. That schedule names the obligors, the amounts due, and the nature of each obligation.

You have a choice on delivery. You either file the inventory with the court or mail it to the interested persons who request it. Either way, keep a dated copy. The values you record here become the opening figures in your account, so accuracy at this stage saves work later.

When You Find More Property

Estates rarely reveal everything at once. A forgotten bank account surfaces. An appraisal corrects a guess you made early. Maine plans for that.

Under 18-C M.R.S. section 3-708, if property that was not in the original inventory comes to your knowledge, or if you learn that the value or description of an item was erroneous or misleading, you prepare a supplementary inventory. Handle it the same way you handled the first one, and the running record stays honest.

Keeping Records During Administration

Between the inventory and the close, your records are the account. Maine does not hand you a fill-in-the-blank form for an informal estate, so build the account yourself around three running categories.

Receipts. Every dollar the estate takes in: inventory values realized, interest and dividends, rent, proceeds from selling estate property, refunds, and money collected on debts owed to the decedent. Note the source, date, and amount of each one.

Disbursements. Every dollar the estate pays out: funeral costs, valid creditor claims, taxes, court and filing fees, attorney and appraiser fees, upkeep on estate real estate, and personal representative compensation. Note the payee, date, purpose, and amount.

Assets on hand. What the estate still holds at the end of the period: account balances, property not yet transferred, and anything else in your control.

Keep estate money in a separate estate account. Never mix it with your own funds. Commingling is one of the fastest ways a personal representative draws a surcharge or a removal petition, and it makes the account nearly impossible to reconcile. Hold on to the bank statements, canceled checks, receipts, and invoices behind each entry so you can prove any line if a beneficiary or the court asks.

The account has to reconcile. The math is simple: opening inventory value plus receipts, minus disbursements, equals the assets on hand at the close. When that equation balances, you are ready to prepare the account for the beneficiaries.

The Written Account to Beneficiaries

Here is the step people miss because no court demands it up front. To close an informal Maine estate, section 3-1003 requires you to give a full account in writing of your administration to the distributees whose interests are affected. This written account is what turns your internal records into something the beneficiaries can read and check.

A workable account pulls your three running categories into one document:

  • A summary of receipts during the administration
  • A summary of disbursements, grouped by purpose
  • The distributions made or proposed to each beneficiary
  • Any assets still on hand and how they will be handled

Give it to the people who take under the will or the intestacy statute. If a beneficiary reads the account and agrees, you have both transparency and a record that they saw the numbers. If a beneficiary wants a judge to review the figures instead, that request pushes the estate toward the formal settlement track below. For a sense of where distribution sits in the wider job, see the Maine executor duties guide.

Closing the Estate by Sworn Statement

The closing statement is the finish line for an informal estate, and it is a sworn document.

Under 18-C M.R.S. section 3-1003, no earlier than 6 months after the date of original appointment, the personal representative may file a verified statement with the court that says:

  • The time limited for creditors to present claims has expired
  • The estate has been fully administered, meaning claims, expenses, and taxes are paid and the assets went to the persons entitled to them
  • Copies of the statement went to all distributees and to creditors whose claims are neither paid nor barred, and a full written account went to the distributees whose interests are affected

If claims are still open, the statement instead describes how those liabilities are handled, such as distributees agreeing to answer for a claim or another arrangement that protects the creditor.

Filing the closing statement does not instantly discharge you. Under the same section, if no proceedings involving the personal representative are pending in the court one year after the closing statement is filed, the appointment terminates. That one-year quiet period is the practical end of the job. Because the timing keys off appointment and the creditor window, it helps to map it against the Maine probate timeline and the Maine creditor claims deadlines before you file.

Why the Written Account Protects You

The account is not busywork. It is your shield.

Under 18-C M.R.S. section 3-1005, the rights of successors and of creditors whose claims are not otherwise barred, asserted against the personal representative for breach of fiduciary duty, are barred unless a proceeding starts within 6 months after the closing statement is filed. So an accurate account that you deliver and file starts a short clock in your favor.

One limit matters. That 6-month bar does not cover fraud, misrepresentation, or inadequate disclosure. A hidden transaction or a misleading number keeps the door open long after the deadline. The lesson is plain: disclose the facts fully in the written account, and the short bar works the way it is meant to.

Formal Settlement and Supervised Administration

Two tracks replace the informal sworn statement with court review. Both look more like a traditional accounting.

Formal Order of Complete Settlement

Under 18-C M.R.S. section 3-1001, the personal representative or any interested person may petition for an order of complete settlement of the estate. The court can approve the settlement, direct or approve distribution, and discharge the personal representative from further claim or demand. Families reach for this when a beneficiary wants a judge to bless the numbers, or when a clean discharge on the record is worth the extra step.

Supervised Administration

Supervised administration is the closest Maine comes to ongoing court accountings. Once the court orders supervision, it oversees the whole administration. Under 18-C M.R.S. section 3-504, the personal representative may not exercise the power to make any distribution of the estate without prior order of the court. Under section 3-505, the court issues interim orders during the case and the distribution and closing orders that end it.

In this setting, expect to account to the court on the schedule it sets, and to wait for an order before paying beneficiaries. Supervision is usually the product of a request by an interested person or a will provision, not the default. If your estate involves a dispute you cannot settle among the parties, review the path with a licensed Maine attorney before you assume the informal route still fits.

Deadlines at a Glance

StepDeadlineStatute
File or mail the inventoryWithin 3 months of appointment18-C M.R.S. section 3-706
File the sworn closing statementNo earlier than 6 months after appointment18-C M.R.S. section 3-1003
Time bar on claims against the personal representative6 months after the closing statement is filed18-C M.R.S. section 3-1005
Appointment terminates1 year after the closing statement, if no proceedings pending18-C M.R.S. section 3-1003

Local practice varies among Maine's county Probate Courts. Check with your Register of Probate for any local filing preferences that sit on top of these statewide rules.

Common Accounting Mistakes in Maine

A few errors send Maine personal representatives back to fix their paperwork or, worse, expose them to personal liability.

  • Missing the 3-month inventory. The clock starts at appointment, and the inventory anchors every later figure. Calendar it the day you receive your letters.
  • Commingling funds. Estate money belongs in a dedicated estate account. Mixing it with personal funds breaks the account and breaches your duty.
  • Distributing before the claim window closes. Paying beneficiaries too early can leave you answering for a valid claim that lands afterward. Work through the Maine debt and creditor rules first.
  • Skipping the written account. The closing statement swears that you furnished a written account to the affected distributees. If you never prepared one, the sworn statement is false.
  • Thin records. Reconstruct nothing from memory. Save the statements, checks, and invoices so any line survives a question.

Compensation and Professional Help

You are allowed to be paid for the work. Under 18-C M.R.S. section 3-719, a personal representative is entitled to reasonable compensation for services. List that compensation in the account as a disbursement so the beneficiaries see it plainly rather than discovering it later.

Both attorney fees and accountant fees are legitimate estate expenses you can pay from estate funds and record in the account. Bring in a professional when the estate runs a business, holds income-producing assets, faces contentious beneficiaries, or trips into supervised administration. For the broader duties that surround the account, start with the Maine executor duties guide and the Maine probate guide.

Frequently Asked Questions

Does a Maine personal representative file accountings with the court?

Usually no. Maine follows the Uniform Probate Code as Title 18-C, so an informal estate files no routine court accountings. The personal representative files one inventory within 3 months (18-C M.R.S. section 3-706), keeps records, furnishes a written account to the affected beneficiaries, and closes with a sworn closing statement (section 3-1003). Court accountings arise only in supervised administration.

When is the Maine estate inventory due?

Within 3 months after appointment. Under 18-C M.R.S. section 3-706 the personal representative prepares an inventory of property the decedent owned at death, listing fair market value as of the date of death and any encumbrances, then files it with the court or mails it to interested persons who request it.

What is a Maine closing statement?

It is a verified statement the personal representative files to close an informal estate under 18-C M.R.S. section 3-1003. Filed no earlier than 6 months after appointment, it certifies that the claim period has expired, the estate is fully administered, and a full written account went to the affected distributees. If no proceedings are pending one year after filing, the appointment terminates.

How long can someone challenge my accounting in Maine?

Under 18-C M.R.S. section 3-1005, a claim against the personal representative for breach of fiduciary duty is barred unless it starts within 6 months after the closing statement is filed. A claim for fraud, misrepresentation, or inadequate disclosure survives that bar, which is why the written account should disclose the facts plainly.

Do Maine beneficiaries get to see the account?

Yes. To close under 18-C M.R.S. section 3-1003 the personal representative must furnish a full written account of the administration to the distributees whose interests are affected and send copies to unpaid creditors who are not barred. Beneficiaries who want more detail can ask for a formal settlement under section 3-1001.

Do I need a lawyer to close a Maine estate?

Maine does not require one for informal closing. Estates that face a will contest, an insolvent balance sheet, a demand for supervised administration, or a beneficiary dispute over the account tend to benefit from a licensed Maine attorney. Confirm anything specific to your estate with your Register of Probate or a Maine attorney.

Related Guides

Sources:

It is not legal advice.

Information current as of July 21, 2026

Settled Estate is not a law firm, and this content is for informational purposes only and does not constitute legal advice. Probate laws and procedures in Maine can change. Consult with a qualified attorney for advice specific to your situation. Full disclaimer.

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