SUMMARY
Rating System:
After conducting a review of the estate accounts under the ESTATE ACCOUNT REVIEW PROGRAMTM the outcome of the review is summarized using the ESTATE ACCOUNT RATING SYSTEMTM. See attached form.
The estate account review concludes with an overall assessment of the estate accounts and rates the accounting and administration of the estate as shown by the accounts using one of the following designations: Pass/Green - Caution/Amber - Fail/Red.
PASS/GREEN:
An estate review that receives a Pass/Green designation means the review did not reveal any significant issues. It also means the beneficiary can feel comfortable in signing the release. The administration of the estate as revealed by the accounts has passed the review.
CAUTION/AMBER:
An estate review that receives a Caution/Amber designation means the review revealed some issues that the beneficiary should review. The issues identified are usually those that require some consideration and a decision. In this case the administration of the estate is generally not bad but some questions have been raised that should cause the beneficiary to proceed with caution.
FAIL/RED:
An estate review that receives a Fail/Red designation means the review reveals significant issues that should be resolved before the beneficiary signs the release. The issues could be with the wording of the release itself. In this case the issues identified should be resolved before the estate accounts can be passed. Such a designation may require the estate trustee to formally pass his or her accounts in Court.
