Judicial Accounting Law and Legal Definition

A judicial accounting is a financial inventory of assets, debts, income, expenditures, and other items, which is submitted to the court. A judicial accounting is used in various contexts, such as estate administration, divorce, partnership dissolution, and others.

The following is an example of a state statute's guidelines for an accounting by a conservator:

An accounting shall include:

(1) A listing of the receipts, disbursements, and distributions from the estate under the conservator's control during the period covered by the account;

(2) A listing of the estate;

(3) The services being provided to the protected person;

(4) The significant actions taken by the conservator during the reporting period;

(5) A recommendation as to the continued need for conservatorship and any recommended changes in the scope of the conservatorship;

(6) Any other information requested by the court or useful in the opinion of the conservator;

(7) The compensation requested and the reasonable and necessary expenses incurred by the conservator; and

(8) An annual inventory of any item of tangible personal property with a value of two thousand five hundred dollars or more which has come into the conservator's possession or knowledge for the minor or protected person.