Rule 197. Quarterly accounts
(a) Every executor and administrator shall file successive serially
numbered quarterly accounts of his administration for quarters ending March
31st, June 30th, September 30th, and December 31st of each year until final
accounting. The account for each quarter shall be filed on or before the 15th
day of the month next after the end of the quarter unless said 15th day is a
holiday, in which event the account may be filed on the first business day
after that holiday; provided that the first account of an executor or
administrator need not be filed at the end of the quarter during which his
inventory is filed, but shall be filed at the end of the next succeeding
(b) In every account, the executor or administrator shall charge himself
with all assets which have come into his possession or control, or with the
balance shown by the last preceding account, together with any newly discovered
assets and any income of the estate, and every other item that was part of the
estate at any time during the period covered by the account. He shall itemize
and may claim credit for the amount of all debts, claims, and expenses paid by
him and all losses incurred by the estate during said period. All collections
and every change in the form of any assets shall appear in the account. If
transactions have been numerous, the account may be stated in the form of a
summary with reference therein to attached schedules wherein the detail of each
summarized entry is set forth. The statement of every expenditure or other
disposition of assets must refer to and be supported by numbered vouchers which
shall be filed with the clerk together with the account.
(c) To each account there shall be attached a brief narrative statement
signed by both the executor or administrator and his attorney of record
showing: (1) the progress made in administration during the accounting period,
and if no substantial progress is shown, the reason for delay; (2) the progress
anticipated during the next period, and (3) the anticipated date of final
(d) Every account shall be subscribed by both executor or administrator
and his attorney or one of his attorneys of record, and shall be verified by
either executor or administrator or his attorney.
(e) Every account shall be filed in duplicate in the office of the clerk
in the division wherein the executor or administrator has been appointed.
(f) An executor or administrator and his attorney or attorneys of record
shall be equally responsible for the prompt filing of proper accounts. By
signing an account, an attorney shall be deemed to certify that the statements
therein contained are accurate insofar as his knowledge thereof extends, and
insofar as his own records and the records of the executor or administrator
available to him show.--Added Dec. 17, 1976.
Accounts of executors and administrators, see 15 V.I.C. ' 561 et seq.
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