Accounting for Estates and Inheritances
Organization of income, expenses, properties, and documents to maintain a clear and well-supported administration of the estate.
The Planilla de Caudal Relicto (estate tax return) reports the assets the decedent held as of the date of death. However, an estate may continue to generate economic activity after that date.
Rentals, sales, interest, maintenance expenses, insurance, repairs, taxes, and distributions require separate, organized records. Depending on the case, the estate may also have tax obligations as a fiduciary entity.
RTM Accounting offers support to organize that activity, prepare records, and provide the information needed by the heirs and the professionals involved in the administration.
When might you need this service?
- Inherited properties that remain leased.
- Businesses or productive assets that continue to operate.
- Recurring payments for CRIM, insurance, utilities, or maintenance.
- Repairs or improvements paid with estate funds.
- Sale of assets before final distribution.
- Bank accounts used for income and expenses.
- Reimbursements claimed by heirs.
- Need to render accounts or prepare reports.
- Preparation of fiduciary or informative returns.
- Partial or final distributions to beneficiaries.
Scope of RTM's service
- Design of accounting categories for the estate.
- Organization of income and expenses.
- Reconciliation of available bank accounts.
- Recordkeeping by property or asset.
- Control of accounts receivable and payable.
- Classification of contributions, advances, and reimbursements.
- Preparation of internal statements or reports.
- Organization of supporting documentation.
- Coordination of information for the applicable fiduciary return.
- Support in partial or final closings of the administration period.
Information or documents that may be requested
Documentation varies according to the assets, volume of operations, administration structure, and the estate's tax obligations.
- 01Death certificate.
- 02Available will or declaration of heirs.
- 03Identification of the administrator, executor, or representative.
- 04Employer identification number of the estate, if any.
- 05Bank statements.
- 06Lease agreements.
- 07Record of collections.
- 08Invoices, receipts, and supporting documents.
- 09Payments for CRIM, insurance, and utilities.
- 10Mortgage and loan information.
- 11Documents from sales of assets.
- 12Distributions made to heirs.
- 13Returns, informative filings, and Treasury communications.
- 14Inventory of properties and assets.
- 15Accounting records previously used.
General process
- 01
Activity evaluation
We identify the properties, accounts, and economic operations of the estate.
- 02
Document organization
We gather statements, invoices, contracts, receipts, and other available evidence.
- 03
Record design
We establish appropriate categories and controls for the estate's movements.
- 04
Recording and reconciliation
We organize income, expenses, accounts, and balances based on the documentation provided.
- 05
Report preparation
We prepare administrative reports according to the engaged scope.
- 06
Tax information
We identify the information needed for the applicable tax obligations.
- 07
Periodic follow-up
We update the records according to the agreed frequency and service.
Frequently asked questions
Related official resources
Keep the estate organized during its administration
Tell us which properties, accounts, or activities generate movements so we can design an appropriate control system.