UAET
UNDERSTANDING ACCOUNTING ISSUES FOR ESTATES AND TRUSTS
MEETING YOUR ACCOUNTING AND AUDITING CPE REQUIREMENTS

This one-day program is designed to provide comprehensive coverage of fiduciary accounting. This course will help practitioners build a unique practice working with clients, attorneys, and estate planners.

Major topics include:

• Review of major legal and tax concepts
• Concepts of fiduciary accounting: Principal and income reports
• The Uniform Principal and Income Act and your specific state laws on principal and income applied to common expenditures and receipts
• The crucial differences between fiduciary accounting and tax accounting
• How fiduciary accounting income impacts distributable net income
• The unique problems of distributions from an estate or trust and their impact on fiduciary accounting
• How to set up an accounting system for an estate or trust, prepare a judicial accounting, and record-keep for fiduciary accounting
• How practitioners can handle audits of estates and trusts
• Various exercises and problems

Designed for: All practitioners who wish to learn about the complex and unique accounting issues for estates and trusts.

Level of knowledge: Basic

Field of study: Accounting