Trustees and executors typically must account annually, while conservators and guardians must account every two years. Yet very few attorneys and CPAs who represent fiduciaries understand how to prepare and present fiduciary accountings. This course will explore the differences between fiduciary accounting and tax and financial accounting; use real-world examples to move from basic concepts of fiduciary accounting to more complicated aspects of the Uniform Principal and Income Act; and discuss techniques for highlighting the fiduciary's good deeds, while mitigating the bad. You'll also explore fiduciary fees and the challenges CPAs face when they serve as trustees.
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