Fiduciary Accounting Part 2: Tools, Rules and Relationship to Tax 2024
Webinar
2.00 Credits
Member Price $0.00
Non-Member Price $0.00
Overview
To properly account for estates and non-grantor trusts, an advisor must understand the statutory requirements to account, the proper classification of revenue and expenses in a chart of account and the importance of provisions in the estate planning document. Additionally, the differences and similarities to fiduciary taxation must be understood.
Highlights
- Setting up a chart of accounts
- Reviewing the estate plan
- Distinguishing between "income" and "principal"
- Understanding the relationship of fiduciary accounting to fiduciary taxation
Prerequisites
Fiduciary Accounting Part 1: Fiduciary Duty Basics & Authority - UPIA (UFIPA) 2023
Designed For
CPAs and financial professionals.
Objectives
- Determine fiduciary accounting from the entity's financial records
- Recognize whether a receipt or disbursement is income or principal
- Identify the distribution provisions in the estate plan
Preparation
None
Non-Member Price $0.00
Member Price $0.00