Frequently asked questions

A complete fiduciary accounting: cover page, summary, supporting schedules (receipts, disbursements, sales with gains and losses, distributions, assets on hand), beneficiary statements and a verification page, as a PDF. Also an Excel workbook with live formulas, a CSV bundle, per-beneficiary summary letters and a review packet for an attorney or CPA.

Trusts, decedents' estates, conservatorships and guardianships of adults, and agents under a power of attorney. Guardianships of minors, and matters with a minor beneficiary, aren't supported.

PDF statements, CSV exports and OFX/QFX downloads from banks and brokerages. Multiple accounts and multiple years per matter.

Summafolio is software, not a law firm or accounting firm. It doesn't give legal, tax or investment advice, and using it doesn't create an attorney-client or accountant-client relationship. Whether you need a lawyer depends on your matter and your court; many fiduciaries have counsel review the accounting before filing.

No. You (or your attorney) review it, sign it and file or deliver it. We never file documents or contact courts or beneficiaries.

California, Florida, New York, Pennsylvania, Texas, Illinois, Ohio, Georgia, North Carolina, Arizona, Washington, New Jersey, Michigan and Virginia, plus a uniform format for every other state. See the sources for each.

We can't promise that. Each format follows the structure of the statute, rule or model form it cites, but courts and judges have their own requirements, and some require their own official forms (for example California's GC-400 series for conservatorships, Ohio Form 13.0, Michigan PC 583 and North Carolina AOC-E-506). Where a mandated form exists, we produce the schedules and totals to transfer onto it. Check your court's rules before filing.

Yes. The ledger is format-independent, so you can render it in any supported format at no extra charge, for example when a trust has beneficiaries in another state.

By default, using the rules of the Uniform Principal and Income Act as enacted in most states: interest and ordinary dividends to income, sale proceeds and capital-gain distributions to principal, trustee and accounting fees split half and half, and so on. Every allocation shows its rule and citation. You can add rules for a matter (for example, when the trust instrument says otherwise) or override a single transaction. Read the guide.

At carry value: the value when the fiduciary received the asset (date-of-death value, inventory value, the prior account's closing value or cost). Gains and losses on sale are measured against carry value. Current market value from the final statements is shown alongside where the format calls for it.

Two checks, both exact. First, the accounting balances: total charges equal total credits. Second, every account is rebuilt from its statements and must match each closing balance and share count, with no missing statements or breaks between periods. If either fails, the accounting is marked as a draft and can't be signed off.

For decedents' estates in California, Florida, New York and Texas, it computes statutory compensation under each state's schedule and shows the tiers. Trustee compensation depends on the trust and isn't computed.

Only the people in your workspace. Data is encrypted at rest with a key specific to each matter. Our staff don't access matter contents except when you ask us to for support, or when the law requires it.

90 days by default, then the matter and its statements are deleted automatically. Firms can set 7 to 365 days. You can delete a matter at any time. Download your exports before then.

No. Never.

$349 for a standard accounting and $699 for complex ones, paid when you export the final accounting. Details.

Accounting preparation costs are commonly paid as an administration expense, but whether that's proper for your matter depends on the instrument, the law and the court. Ask your attorney.