Section 22.12 Failure to Account for Moneys Collected—Principal and Interest

• Library: Estate Administration 2014 Supp

2. (§22.12) Failure to Account for Moneys Collected—Principal and Interest

Personal representatives must account at each settlement for all moneys collected during the settlement period. Section 473.543, RSMo Supp. 2008. Section 473.543.1 requires personal representatives to account for the exact amount of principal and interest collected on each claim due the estate and to provide a detailed statement of all interest earned on estate assets. But In re Stroh, 899 S.W.2d 534, 540 (Mo. App. E.D. 1995), held that “the provisions of the probate code governing independent administration do not require” a separation of principal from the interest paid on a note in the personal representative’s final statement of account. Because the personal representative is...