What does it mean to 'pass accounts' as an executor in Ontario?

Passing accounts is a formal court process in Ontario by which an executor (estate trustee) presents a complete financial accounting of the estate to a judge for review and approval. The executor provides detailed records of every asset collected, every payment made, every disbursement from the estate, and the proposed compensation for their own services.

The court assesses whether the executor managed the estate properly, whether all expenses are reasonable and justified, and whether the proposed executor compensation is fair. Beneficiaries receive notice and can object to any items in the accounts before the court approves them.

Passing accounts is not required in every estate. If all residuary beneficiaries are legally capable adults who have reviewed and signed off on the accounts and the executor's compensation, an informal passing with signed consents is usually sufficient without going to court. Formal court passing of accounts is typically pursued when there is a dispute, when there are minor or incapable beneficiaries, or when the executor wants the protection of a court order.