Rule 4:87-3.Form of account; statement of assets to be annexed to account

Last amended September 4, 1990 · Current through June 18, 2026 · Last verified July 7, 2026

In one sentenceRule 4:87-3 lets an account's charges and allowances be typed or computer-printed, requires corpus and income to be stated separately even when combined in one schedule, and lists six statements that must be annexed to every account, covering asset values, changes in holdings, tax and income apportionments, and how requested commissions are computed.

Full Text of Rule 4:87-3

Text sizeJump to: (a) (b)

(a) Form of Account. The charges and allowances as to principal and income and the statements required to be annexed to the account may be typed or in the form of computer or machine printouts; and, where appropriate, the accountant may use a single schedule for the presentation of portions of the account, but charges and allowances as to corpus and income shall be stated separately.

(b) Statement to be Annexed to Account. To all accounts shall be annexed:

(1) a full statement or list of the investments and assets composing the balance of the estate in the accountant’s hands, setting forth the inventory value or the value when the accountant acquired them and the value as of the day the account is drawn, and also stating with particularity where the investments and assets are deposited or kept and in what name;

(2) a statement of all changes made in the investments and assets since they were acquired or since the day of the last account, together with the date the changes were made;

(3) a statement as to items apportioned between principal and income, showing the apportionments made;

(4) a statement as to apportionments made with respect to transfer inheritance or estate taxes;

(5) a statement of allocation if counsel fees, commissions and other administration expenses have been paid out for corpus, but the benefits of the deductions from corpus have been allocated in part or in whole to income beneficiaries for tax purposes; and

(6) a statement showing how the commissions requested, with respect to corpus, are computed, and in summary form the assets or property, if any, not appearing in the account on which said commissions are in part based.

End

Amendment History

New Jersey publishes each rule’s amendment record in a “History” note beneath the rule. It is reproduced verbatim below; the “R.R.” citations refer to the former Revised Rules numbering the current rules replaced.

Source-R.R. 4:106-2. Paragraph (a) adopted and paragraphs (b) (c) (d) (e) and (f) redesignated June 29, 1973 to be effective September 10, 1973; former R. 4:87-2; amended and rule redesignated June 29, 1990 to be effective September 4, 1990.

Plain-English Summary

An account doesn't have to be handwritten — typed pages or computer printouts work, and the accountant can even use a single schedule to present different parts of the account, so long as corpus and income charges and allowances stay clearly separated.

Six things get attached to every account: a full list of the investments and assets on hand, showing their inventory value or their value when acquired, along with their value as of the account date, plus where and how they're held; a record of every change made to those holdings since they were acquired or since the last account, with dates; a breakdown of how items were apportioned between principal and income; a breakdown of apportionments tied to transfer inheritance or estate taxes; a statement of any allocation where fees or expenses came out of corpus but the tax benefit went to income beneficiaries; and a statement showing how any requested commission on corpus was calculated, including assets that factor into that calculation even if they don't appear in the account itself.

Frequently Asked Questions

Must an account be handwritten?

No, typed pages or computer printouts are acceptable, and a single schedule may present multiple parts of the account, as long as corpus and income stay separately stated.

What must be annexed to every account?

Six statements: current investment and asset values, changes in holdings since acquisition or the last account, principal/income apportionments, tax apportionments, any corpus-to-income fee allocation, and how requested corpus commissions were computed.

Source & verification. The rule text and amendment history are reproduced verbatim from the official New Jersey Rules of Court (N.J. Ct. R. 4:87-3). Prescribed by the Supreme Court of New Jersey (N.J. Const. art. VI, § 2, ¶ 3). The plain-English summary is original and written by us. Last verified July 7, 2026. · Official source

Also known as: form of accountstatement of assets annexed