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Ray, I have attached a file for you to review. Again, the…

Hello Ray, I have attached a...
Hello Ray,
I have attached a file for you to review. Again, the headers are Income and Principal. One account had $35,745.23. one beneficiary received $17,872.61 and the other received $17,872.62. The 6/1/2008 was taken in full by beneficiary 1 for executor fees. My question is this, should the amounts in income be the same in the principal column or should it show what the originating amount of the account is?ie: $17,872.61(income) and $35,745.23(principal) or same as income. Also, to total both columns are added together, isnt this doubling the amounts once on hand?
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Answered in 5 minutes by:
3/8/2018
Ray
Ray, Lawyer
Category: Legal
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Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

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You would want to show the original balance and what was paid and what current balance is here.

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If the amount on the left represents all that was paid out here $53, 527.13 then you are fine here.
It shows what came in and what went out by distribution.I think you are fine as you have it.

I appreciate the chance to help you again.Thanks

If you can positive rate 5 stars it i s much appreciated.

Ray
Ray, Lawyer
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Experience: 30 years in civil, probate, real estate, elder law
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Joycelaw
Joycelaw, Attorney
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Customer reply replied 4 months ago
Please explain! So, for first entry it would be the $34,000 in principal, and the distributed $17,972.61 in the income. Second entry in #2 would be $17, 872.62 in principal and the same in income? Other amounts would have entry in income and nothing in principal? And then both columns are added together?

Thats correct as you state it.

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Customer reply replied 4 months ago
Thank you very much

Have a great day talk to you again soon.

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