Fiduciary Accounting Part 4: The New Frontier (Total Return Trusts) 2023 WEBCAST

Company: WASHINGTON SOCIETY OF CPAS
Location: Los Angeles
Posted on: May 28, 2023

Job Description:

Because fiduciary accounting has not kept of with the times in relationship to finance and economics, it us often difficult for the fiduciary to provide a level of benefit to the income beneficiary without negatively impacting the remainder beneficiaries. In order to modernize fiduciary accounting, new provisions provide for a more modern approach using either the "trustee's power to adjust" or "unitrusts." We will explore these New Frontier Trusts and their application to your fiduciary clients.HighlightsWhat are New Frontier Trusts? Situations where the use of the trustee's power to adjust or a unitrust can be beneficial. Understanding the requirements for using a particular strategy. Authority and requirements for the trustee's power to adjust with a problem example. Authority and requirements for unitrusts with a problem example. Capital gains in Distributable Net Income (DNI).PrerequisitesBasic knowledge of fiduciary accounting.Designed ForCPAs and financial professionals.ObjectivesDetermine the requirements of a particular strategy and whether a trust can meet these requirements. Recognize the pros and cons of making these elections. Identify the impact on both the income and remainder beneficiary from the use of these strategies.

Keywords: WASHINGTON SOCIETY OF CPAS, Los Angeles , Fiduciary Accounting Part 4: The New Frontier (Total Return Trusts) 2023 WEBCAST, Accounting, Auditing , Los Angeles, California