Fiduciary Accounting for Estates and Trusts

Overview

2.0 Credits
ONLINE

Fiduciary accounting for trusts and estates is one of the least understood branches of accounting. Fiduciary accounting is not particularly concerned with recording income and expenses, but is obsessed with determining when receipts and expenditures are assigned to income or principal/corpus. This course will dive into this tricky area and provide a reporting guide for fiduciary accounting. This event may be a rebroadcast of a live event, with the instructor available to answer your questions either during or after the event.

Objectives

To provide a working knowledge of the financial accounting rules for estates and trusts.

Discuss planning and potential pitfalls.

Major Topics

  • Examine provisions of the Uniform Principal and Income Act.
  • Mandatory and discretionary allocations and adjustments.
  • Trustees ability to override the fallback rules.
  • Review the contents of a proper set of trust accounting statements.

Designed For

Practitioners and members in industry seeking to gain a better understanding of fiduciary accounting of estates and trusts issues.

Prerequisite

None

Advanced Preparation

None
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