Sec. 359.002. ANNUAL ACCOUNT REQUIRED UNTIL ESTATE CLOSED. (a) Not later than the 60th day after each anniversary of the date a personal representative of the estate of a decedent qualifies and receives letters testamentary or of administration to administer the decedent's estate under court order, unless the court authorizes an extension, the representative shall file an annual account conforming to the essential requirements of Section 359.001 regarding changes in the estate assets occurring during the 12-month period after the date the most recent previous account was filed. (b) The annual account must be filed in a manner that allows the court or an interested person to ascertain the true condition of the estate, with respect to money, securities, and other property, by adding to the balances forwarded from the most recent previous account the amounts received during the period covered by the account and subtracting the disbursements made during that period. (c) The description of property sufficiently described in an inventory or previous account may be made in the annual account by reference to that description.
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